Tennessee Timeshare Test UPDATED Exam
Questions and CORRECT Answers
acquisition agent - CORRECT ANSWER - people who solicit others to attend a
presentation
license expire - CORRECT ANSWER - 2 years from the issued date
powers of the commission - CORRECT ANSWER - can fine you, suspend your license, or
refer you to court
reinstatement for expired license - CORRECT ANSWER - retake the test
escrow account - CORRECT ANSWER - deposit for purchase into a bank account
developer - CORRECT ANSWER - person/entity in the business of creating or selling any
timeshare program
the project - CORRECT ANSWER - the development
exchange agent - CORRECT ANSWER - RCl
timeshare - CORRECT ANSWER - anything unless it is prohibited by other documents
rental or whole ownership - CORRECT ANSWER - if the property is not a timeshare it is
a
public offering statement presentation - CORRECT ANSWER - first thing in the closing,
must contain the rescission statement in it
, rescission/cancellation period in TN - CORRECT ANSWER - 10 or 15 days
discrimination complaint - CORRECT ANSWER - 180 days to submit a
broker license - CORRECT ANSWER - you must spend three years as an affiliate broker
before you can apply for a
errors and omission insurance - CORRECT ANSWER - all agents must have this to
protect them against inadequate or negative actions
license - CORRECT ANSWER - you can apply for up to 6 months for your
I am - CORRECT ANSWER - who is responsible for renewing your license
property value - CORRECT ANSWER - what doesn't have to be in the truth and lending
statement/public offering statement
misleading - CORRECT ANSWER - in advertising, any statement, action, or liam which is
untrue
72 hours - CORRECT ANSWER - you give guests the gifts or cash equivalent if they
haven't received their gifts after
anything in writing - CORRECT ANSWER - what can be guaranteed to a purchaser
tenants in common - CORRECT ANSWER - multiple owners
Questions and CORRECT Answers
acquisition agent - CORRECT ANSWER - people who solicit others to attend a
presentation
license expire - CORRECT ANSWER - 2 years from the issued date
powers of the commission - CORRECT ANSWER - can fine you, suspend your license, or
refer you to court
reinstatement for expired license - CORRECT ANSWER - retake the test
escrow account - CORRECT ANSWER - deposit for purchase into a bank account
developer - CORRECT ANSWER - person/entity in the business of creating or selling any
timeshare program
the project - CORRECT ANSWER - the development
exchange agent - CORRECT ANSWER - RCl
timeshare - CORRECT ANSWER - anything unless it is prohibited by other documents
rental or whole ownership - CORRECT ANSWER - if the property is not a timeshare it is
a
public offering statement presentation - CORRECT ANSWER - first thing in the closing,
must contain the rescission statement in it
, rescission/cancellation period in TN - CORRECT ANSWER - 10 or 15 days
discrimination complaint - CORRECT ANSWER - 180 days to submit a
broker license - CORRECT ANSWER - you must spend three years as an affiliate broker
before you can apply for a
errors and omission insurance - CORRECT ANSWER - all agents must have this to
protect them against inadequate or negative actions
license - CORRECT ANSWER - you can apply for up to 6 months for your
I am - CORRECT ANSWER - who is responsible for renewing your license
property value - CORRECT ANSWER - what doesn't have to be in the truth and lending
statement/public offering statement
misleading - CORRECT ANSWER - in advertising, any statement, action, or liam which is
untrue
72 hours - CORRECT ANSWER - you give guests the gifts or cash equivalent if they
haven't received their gifts after
anything in writing - CORRECT ANSWER - what can be guaranteed to a purchaser
tenants in common - CORRECT ANSWER - multiple owners
