Tennessee Timeshare License Exam Questions and Answers 100% Solved

Tennessee Timeshare License Exam Questions and Answers 100% Solved What is an acquisition agent? People who solicit others to attend a presentation When does your license expire? 2 years from the date of issuance What are the powers of the commission? The can fine you, suspend your license, or refer you to court. If your license is expired, how can you get reinstated? Retake the test What is an escrow account? Deposit for purchase into a bank account Who is the developer and can they be refused a license? The person or entity which is in the business of creating or selling any timeshare program What is the project? The developement What is an exchange agent? RCI What can be a timeshare? Anything unless it is prohibited by other documents What is a project instrument? All documents associated with the timeshare If the property is not a timeshare, what is it? A rental or whole ownership When do we present the public offering statement? The first thing in the closing, it must contain the rescission statement in it. What is the rescission/cancellation period in TN? 10 or 15 days How long does one have to submit a complaint if they feel they have been discriminated against? 180 days How long do you have to spend as an affiliate broker before you can apply for a broker license? Three Years What is errors and ommision insurance? Who has to have it? All agents must have insurance to protect them against inadequate or negative actions