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Tennessee Timeshare License Exam | 55 Questions with 100% Correct Answers

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Institution Tennessee Timeshare
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Tennessee Timeshare License Exam | 55 Questions with 100% Correct Answers What is an acquisition agent? -Correct Answer-People who solicit others to attend a presentation When does your license expire? -Correct Answer-2 years from the date of issuance What are the powers of the commission? -Correct Answer-The can fine you, suspend your license, or refer you to court. If your license is expired, how can you get reinstated? -Correct Answer-Retake the test What is an escrow account? -Correct Answer-Deposit for purchase into a bank account Who is the developer and can they be refused a license? -Correct Answer-The person or entity which is in the business of creating or selling any timeshare program What is the project? -Correct Answer-The developement What is an exchange agent? -Correct Answer-RCI What can be a timeshare? -Correct Answer-Anything unless it is prohibited by other documents What is a project instrument? -Correct Answer-All documents associated with the timeshare If the property is not a timeshare, what is it? -Correct Answer-A rental or whole ownership When do we present the public offering statement? -Correct Answer-The first thing in the closing, it must contain the rescission statement in it. What is the rescission/cancellation period in TN? -Correct Answer-10 or 15 days How long does one have to submit a complaint if they feel they have been discriminated against? -Correct Answer-180 days How long do you have to spend as an affiliate broker before you can apply for a broker license? -Correct Answer-Three Years What is errors and ommision insurance? Who has to have it? -Correct Answer-All agents must have insurance to protect them against inadequate or negative actions How long after passing your test can you apply for your license? -Correct Answer-6 months Who is responsible to renew your license? -Correct Answer-I am What does not have to be in the Truth and Lending Statement? -Correct Answer-Property Value In advertising, what does misleading mean? -Correct Answer-Any statement action or laim which is untrue

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  • if your license is expired how can you get reinst
  • who is the developer and can they be refused a lic

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