Real Estate Tennessee State Exam Questions and Answers 100% Pass

Real Estate Tennessee State Exam Questions and Answers 100% Pass When an earnest money check is deposited, what information does Tennessee require be recorded and maintained? - Answer ️️ -Who provided the funds (the depositor) A principal broker in Tennessee is required ______ for all transactions in which affiliated licensees participate. - Answer ️️ -Review and approve transactional documents and agreements What must licensees do to maintain their licenses? - Answer ️️ -Complete continuing education requirements and pay the renewal fee Addision didn't make an on-site inspection of the timeshare project prior to signing the contract. She's now signed the contract but a little voice inside her head is telling her to get out while the getting is good. In Tennessee, how many days does Addison have to cancel the contract? - Answer ️️ -15 days Licensees in Tennessee are required to keep transaction documents for a minimum of_____ - Answer ️️ -Three years Before applying for relief from the recovery fund, what must Tennessee consumers do when they receive a judgment against a licensee for wrongdoing? - Answer ️️ -Exhaust other legal remedies. Which of the following situations is outside of the Tennessee Real estate Commission's jurisdiction? - Answer ️️ -Kathi just bought a house and claims that her credit union promised her one interest rate but gave her a higher one. (TREC can't mediate or resolve a problem with a financial institution) What should you document to avoid E&O claims? - Answer ️️ -Conversations and recommendations Dolly is a real estate salesperson. She placed an advertisement online that includes her name, the firm's number, city and state where her brokerage is located, and the county where her brokerage is licensed. What element did she leave off that must be included? - Answer ️️ -Brokerage name Percy and Jackson have formed a team within their Gatlinburg real estate brokerage firm. They're drafting up some advertisements to help launch their team. What do they need to keep in mind when designing their marketing materials? - Answer ️️ -Ads must include the team name and brokerage firm name. Edward, a Tennessee principal broker, is going through transaction and contract files from one year ago. Which of the following statements is NOT true? - Answer ️️ -Edward's affiliate