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Tennessee Real Estate Questions with
Answers (100% Correct Answers)
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
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
,2
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
Subsurface Rights Answer: Apply to land beneath surface of real estate parcel
extending from its surface boundaries downward to center of earth
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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
Allodial System Answer: Individuals are entitled to own property without
proprietary control by the king/government
Metes and Bounds Answer: Identifies the boundaries of a parcel of real estate
using reference points, distances, and angles. Starts at origination point (point
of beginning or POB) and returns to the POB at the end of description
Datum Answer: Standard elevation reference points
Benchmarks Answer: Local elevation markers
Eminent Domain Answer: Right of the government to take private property for
a necessary public use, with just compensation to the owner
Escheat Answer: Property cannot be without an owner, if an owner dies
without a will and without heirs, property reverts to the state
Freehold Estate Answer: Duration of owner rights cannot be determined
Leasehold Estate Answer: Distinguished by its specific duration, as represented
by the lease term
Tennessee Real Estate Questions with
Answers (100% Correct Answers)
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
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
,2
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
Subsurface Rights Answer: Apply to land beneath surface of real estate parcel
extending from its surface boundaries downward to center of earth
, 3
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
Allodial System Answer: Individuals are entitled to own property without
proprietary control by the king/government
Metes and Bounds Answer: Identifies the boundaries of a parcel of real estate
using reference points, distances, and angles. Starts at origination point (point
of beginning or POB) and returns to the POB at the end of description
Datum Answer: Standard elevation reference points
Benchmarks Answer: Local elevation markers
Eminent Domain Answer: Right of the government to take private property for
a necessary public use, with just compensation to the owner
Escheat Answer: Property cannot be without an owner, if an owner dies
without a will and without heirs, property reverts to the state
Freehold Estate Answer: Duration of owner rights cannot be determined
Leasehold Estate Answer: Distinguished by its specific duration, as represented
by the lease term
