Tennessee Real Estate Test with
100% Correct Answers
How many years are the TREC member terms? - Answer- 5
Who chooses the TREC chair, vice chair, and executive director? - Answer- The
commission
Affiliate Broker - Answer- • High school diploma
• Completion of 60 + 30 credits
Broker - Answer- • Must have high school, plus 90 credits, plus 120 classroom hours
Time Share Salesperson - Answer- • High school diploma
• 30 classroom hours
Contract - Answer- Agreement between 2 or more parties who, in a "meeting of the
minds" have pledged to perform or refrain from performing some act
Exclusive Listing Agreement - Answer- Legally enforceable real estate agency
agreement between a real estate broker and a client, authorizing a real estate licensee
to act as a parties exclusive agent for the purchase, sale, or lease of real estate
Commingling - Answer- Mixing escrow funds into the same account as non escrow
funds
Conversion - Answer- Using escrow funds for the wrong purposes
Consumer Protection Act - Answer- Law makes it a Class B Misdemeanor to commit
any unfair or deceptive act in any trade or commerce
Time Share Estate - Answer- Ownership/leasehold estate in property devoted to a time
share fee, tenants in common, time span ownership, interval ownership, and a time
share lease
Time Share Program - Answer- Arrangement for time share intervals in a time share
project where use is subject to a schedule on a periodic basis occurring annually over
any period of time in excess of 1 year
, Vacation Club - Answer- Program in which a purchaser obtains a recurring right to use
and occupy the space in more than one site through the mandatory use of a reservation
system
Right to Encumber - Answer- Right to mortgage the property as collateral for debt
Surface Rights - Answer- Apply to real estate contained within the surface boundaries of
parcel
Air Rights - Answer- Apply to space above surface boundaries of parcel
Regulatory Powers - Answer- Enable the agency to pass specific regulations and rules
to support the administration of the license law
Judicial Powers - Answer- Enable it to conduct hearings and investigations into the
activities of licensees and to rule on license suspensions or revocations
Administrative Powers - Answer- Enable it to establish the staff organization, records,
and facilities to manage the licensing process and the licensees themselves
Mission of the Tennessee Real Estate Commission - Answer- Protect the public
TREC consists of how many members? - Answer- 9
Who appoints members of TREC? - Answer- Governor
Subsurface Rights - Answer- Apply to land beneath surface of real estate parcel
extending from its surface boundaries downward to center of earth
Accretion - Answer- Increase of land created by water deposits of soil by the natural
flow of water
Erosion - Answer- Gradual loss of land caused by flowing water or wind
Avulsion - Answer- Loss of land by a sudden and large scale change in water flow
Relection - Answer- Increase in land due to the receding of water from the shore
Alluvion - Answer- Actual soil, rock and other matter moved by flowing water which
results in accretion
Fixtures - Answer- Personal property item that has been converted to real property by
attachment to real estate
100% Correct Answers
How many years are the TREC member terms? - Answer- 5
Who chooses the TREC chair, vice chair, and executive director? - Answer- The
commission
Affiliate Broker - Answer- • High school diploma
• Completion of 60 + 30 credits
Broker - Answer- • Must have high school, plus 90 credits, plus 120 classroom hours
Time Share Salesperson - Answer- • High school diploma
• 30 classroom hours
Contract - Answer- Agreement between 2 or more parties who, in a "meeting of the
minds" have pledged to perform or refrain from performing some act
Exclusive Listing Agreement - Answer- Legally enforceable real estate agency
agreement between a real estate broker and a client, authorizing a real estate licensee
to act as a parties exclusive agent for the purchase, sale, or lease of real estate
Commingling - Answer- Mixing escrow funds into the same account as non escrow
funds
Conversion - Answer- Using escrow funds for the wrong purposes
Consumer Protection Act - Answer- Law makes it a Class B Misdemeanor to commit
any unfair or deceptive act in any trade or commerce
Time Share Estate - Answer- Ownership/leasehold estate in property devoted to a time
share fee, tenants in common, time span ownership, interval ownership, and a time
share lease
Time Share Program - Answer- Arrangement for time share intervals in a time share
project where use is subject to a schedule on a periodic basis occurring annually over
any period of time in excess of 1 year
, Vacation Club - Answer- Program in which a purchaser obtains a recurring right to use
and occupy the space in more than one site through the mandatory use of a reservation
system
Right to Encumber - Answer- Right to mortgage the property as collateral for debt
Surface Rights - Answer- Apply to real estate contained within the surface boundaries of
parcel
Air Rights - Answer- Apply to space above surface boundaries of parcel
Regulatory Powers - Answer- Enable the agency to pass specific regulations and rules
to support the administration of the license law
Judicial Powers - Answer- Enable it to conduct hearings and investigations into the
activities of licensees and to rule on license suspensions or revocations
Administrative Powers - Answer- Enable it to establish the staff organization, records,
and facilities to manage the licensing process and the licensees themselves
Mission of the Tennessee Real Estate Commission - Answer- Protect the public
TREC consists of how many members? - Answer- 9
Who appoints members of TREC? - Answer- Governor
Subsurface Rights - Answer- Apply to land beneath surface of real estate parcel
extending from its surface boundaries downward to center of earth
Accretion - Answer- Increase of land created by water deposits of soil by the natural
flow of water
Erosion - Answer- Gradual loss of land caused by flowing water or wind
Avulsion - Answer- Loss of land by a sudden and large scale change in water flow
Relection - Answer- Increase in land due to the receding of water from the shore
Alluvion - Answer- Actual soil, rock and other matter moved by flowing water which
results in accretion
Fixtures - Answer- Personal property item that has been converted to real property by
attachment to real estate
