Ch. 1 - Tennessee License Law(question and answers)graded A+ 2023

Ch. 1 - Tennessee License Law(question and answers)graded A+ 2023How many of the members of the Commission may come from the real estate industry? - correct answer 7 Which rule applies to the appointment of a full-time director of education? - correct answer The person must be a college graduate. What is the purpose of The Real Estate Act? - correct answer To protect the public against harmful acts by licensees If the Recovery Fund currently has $612,000 on-hand, what would be the most the Commission could spend on educational activities? - correct answer $112,000 What minimum balance must always be maintained in the Recovery Fund? - correct answer $500,000 What is the dollar limit of the additional license renewal fee that goes towards The Real Estate Fund? - correct answer $30 What statement from a broker must a license applicant provide in the application? - correct answer That the broker will supervise and train the applicant What license is required for a real estate branch office? - correct answer A firm license -All real estate offices and branch offices must have; a real estate firm license, a principal broker, and a fixed location with adequate facilities for affiliated licensees. On 8/1/2011, Norm was released on probation. When is the earliest he could be considered for licensure? - correct answer 8/1/2013