TN Real Estate state practice exam questions
with correct answers
TREC can hold as many meetings as it deems necessary throughout the year, but it must have a minimum of three meetings. Where must these meetings take place? - Answer One in each, West, middle, east division
Gideon is planning to run a full-page ad in the Knoxville newspaper to promote his
open house in two weeks. He'll be offering a free overnight stay at a local resort to the winner of the door prize. Which of the following is a true statement? - Answer Gideon's ad must clearly state the value and all qualifications and accurate specifications of the prize.
A principal broker in Tennessee is required to ______ for all transactions in which affiliated licensees participate. - Answer Review and approve transactional documents and agreements
How many members of TREC are licensed real estate brokers or affiliate brokers in Tennessee? - Answer 7
Ralph is a broker whose license was suspended when one of his affiliated brokers committed a violation. This is mostly likely because ______ - Answer Ralph either knew about the violation or is guilty of failure to supervise
Mike is applying for an affiliate broker license. What type of written examination requirement does this type of license have? - Answer The applicant must pass the national and state exams with a score of 70% or greater.
Deborah, a sponsoring broker, is required to display the licenses of ________. - Answer All affiliate brokers, both independent contractors and employees Who's entitled to reimbursement from the Real Estate Education and Recovery Account? - Answer A member of the public who's been granted a judgment against a licensee
Which of these must Tennessee licensees disclose relative to specific real estate transactions handled by their brokerages? - Answer Immediate family relationships
Which violation is likely to result in license revocation? - Answer Criminal actions
Ted and Tanya, Tennessee buyers, are represented by Brooke Sales. They want to make an offer on a home and give Brooke a check for $5,000 for earnest money. The check is post-dated for a week. Ted explains, "We have the money, but I need to shuffle a few things around before this check is good." Can Ted and Tanya do this? - Answer No. Earnest money needs to be able to be deposited immediately, so a post-dated check won't work.
Which of the following statements is true regarding the termination date of a listing
agreement or sales contract in Tennessee? - Answer A definite termination date must be included.
In addition to a firm real estate license and a principal broker, what else must real estate firms have to meet Tennessee firm license requirements? - Answer A physical location and facility that can adequately accommodate affiliated licensees
Which of the following would you need to disclose about a listed property? - Answer Your stepfather is the property owner.
with correct answers
TREC can hold as many meetings as it deems necessary throughout the year, but it must have a minimum of three meetings. Where must these meetings take place? - Answer One in each, West, middle, east division
Gideon is planning to run a full-page ad in the Knoxville newspaper to promote his
open house in two weeks. He'll be offering a free overnight stay at a local resort to the winner of the door prize. Which of the following is a true statement? - Answer Gideon's ad must clearly state the value and all qualifications and accurate specifications of the prize.
A principal broker in Tennessee is required to ______ for all transactions in which affiliated licensees participate. - Answer Review and approve transactional documents and agreements
How many members of TREC are licensed real estate brokers or affiliate brokers in Tennessee? - Answer 7
Ralph is a broker whose license was suspended when one of his affiliated brokers committed a violation. This is mostly likely because ______ - Answer Ralph either knew about the violation or is guilty of failure to supervise
Mike is applying for an affiliate broker license. What type of written examination requirement does this type of license have? - Answer The applicant must pass the national and state exams with a score of 70% or greater.
Deborah, a sponsoring broker, is required to display the licenses of ________. - Answer All affiliate brokers, both independent contractors and employees Who's entitled to reimbursement from the Real Estate Education and Recovery Account? - Answer A member of the public who's been granted a judgment against a licensee
Which of these must Tennessee licensees disclose relative to specific real estate transactions handled by their brokerages? - Answer Immediate family relationships
Which violation is likely to result in license revocation? - Answer Criminal actions
Ted and Tanya, Tennessee buyers, are represented by Brooke Sales. They want to make an offer on a home and give Brooke a check for $5,000 for earnest money. The check is post-dated for a week. Ted explains, "We have the money, but I need to shuffle a few things around before this check is good." Can Ted and Tanya do this? - Answer No. Earnest money needs to be able to be deposited immediately, so a post-dated check won't work.
Which of the following statements is true regarding the termination date of a listing
agreement or sales contract in Tennessee? - Answer A definite termination date must be included.
In addition to a firm real estate license and a principal broker, what else must real estate firms have to meet Tennessee firm license requirements? - Answer A physical location and facility that can adequately accommodate affiliated licensees
Which of the following would you need to disclose about a listed property? - Answer Your stepfather is the property owner.
