Tennessee (state
exam)Real Estate
LATEST 2026-2027 EXAM
WITH QUESTIONS AND
CORRECT VERIFIED
ANSWERS GRADED A+
Who appoints members of TREC? - ANSWERS-Governor
How many years are the TREC member terms? - ANSWERS-5
Who chooses the TREC chair, vice chair, and executive director? - ANSWERS-The
commission
Affiliate Broker - ANSWERS-• High school diploma
• Completion of 60 classroom hours + 30 credits
Broker - ANSWERS-• Must have high school, 120 classroom hours, 90 credits,
Time Share Salesperson - ANSWERS-• High school diploma
• 30 classroom hours
Only take state part of PSI exam
, Contract - ANSWERS-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 - ANSWERS-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 - ANSWERS-Mixing escrow funds into the same account as non escrow
funds
Conversion - ANSWERS-Using escrow funds for the wrong purposes
Consumer Protection Act - ANSWERS-Law makes it a Class B Misdemeanor to
commit any unfair or deceptive act in any trade or commerce
Time Share Estate - ANSWERS-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 - ANSWERS-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 - ANSWERS-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
Cancellation (backing out) of a timeshare contract must happen within ________ days if
you actually looked at the property in person? - ANSWERS-10 days
Cancellation (backing out) of a timeshare contract must happen within ________ days if
you did not looked at the property in person? - ANSWERS-15 days
Who holds deposit for a timeshare? - ANSWERS-(Third-party) attorney, bank, title
company, etc.
At least ______ of each prize/gift must be given? - ANSWERS-1
With timeshares, If a sales presentation is required to qualify it must be stated. True or
false? - ANSWERS-True
With timeshares, The retail value of each prize/gift must be stated. True or false? -
ANSWERS-True
exam)Real Estate
LATEST 2026-2027 EXAM
WITH QUESTIONS AND
CORRECT VERIFIED
ANSWERS GRADED A+
Who appoints members of TREC? - ANSWERS-Governor
How many years are the TREC member terms? - ANSWERS-5
Who chooses the TREC chair, vice chair, and executive director? - ANSWERS-The
commission
Affiliate Broker - ANSWERS-• High school diploma
• Completion of 60 classroom hours + 30 credits
Broker - ANSWERS-• Must have high school, 120 classroom hours, 90 credits,
Time Share Salesperson - ANSWERS-• High school diploma
• 30 classroom hours
Only take state part of PSI exam
, Contract - ANSWERS-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 - ANSWERS-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 - ANSWERS-Mixing escrow funds into the same account as non escrow
funds
Conversion - ANSWERS-Using escrow funds for the wrong purposes
Consumer Protection Act - ANSWERS-Law makes it a Class B Misdemeanor to
commit any unfair or deceptive act in any trade or commerce
Time Share Estate - ANSWERS-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 - ANSWERS-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 - ANSWERS-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
Cancellation (backing out) of a timeshare contract must happen within ________ days if
you actually looked at the property in person? - ANSWERS-10 days
Cancellation (backing out) of a timeshare contract must happen within ________ days if
you did not looked at the property in person? - ANSWERS-15 days
Who holds deposit for a timeshare? - ANSWERS-(Third-party) attorney, bank, title
company, etc.
At least ______ of each prize/gift must be given? - ANSWERS-1
With timeshares, If a sales presentation is required to qualify it must be stated. True or
false? - ANSWERS-True
With timeshares, The retail value of each prize/gift must be stated. True or false? -
ANSWERS-True
