Tennessee Affiliate Broker Exam With Complete Questions And 100% Verified Answers/2024.

The Tennessee Human Rights Commission (THRC) - correct answer enforces fair housing laws in the state. Exemptions to Tennesse's Human Rights Act are: - correct answer 1. Rental of one housing unit when the building contains no more than two independent units, if the owner or a family member lives in one of the units. 2. Rental of a room or rooming unit in a housing accommodation that shares a common bath (and only in regards to sex as a protected class). 3. Sale, rental, or preference of a dwelling owned, operated, or used in conjunction with a religious organization, association, society, or any nonprofit to members of the same religion (unless membership in that religion discriminates on the basis of race, color, or national origin) 4.Single-sex dorms or rental properties including, but not limited to, those at colleges and universities. Functions of the Tennessee Human Rights Commission (THRC) - correct answer Safeguard individuals from discrimination through enforcement and education. Oversees the state's execution of federal laws prohibiting discrimination. Ensures the state has legislation that supports and expands, as needed, on federal civil rights laws. Conducts investigations into discrimination complaints, which can be made online. Educates members of the public about their rights under the Human Rights Act. Commingling - correct answer the act of depositing trust funds in a personal or business bank account. Conversion - correct answer the act of using escrow funds for personal use. Vital records - correct answer records necessary to continue to do business in the event of a disruption or disaster. EX Client files and contract, current lists of customers, current accounts receivable (money people owe you), and financial record General records - correct answer records deemed important enough to manage and keep. These might include accounts payable (money you owe others), bills and invoices, employment records, expense receipts, travel logs, prospect and referral correspondence, or referral phone lists. 3 years - correct answer amount of time state law requires all documents and records be kept, both hard copy and electronic. 24 hours - correct answer amount of time you have to make documents readily accessible to TREC 10 days - correct answer amount of time licensee has to complete tasks associated with transfer of affiliation Advertising does not include - correct answer promotional materials that advertise licensees themselves, such as hats, pens, notepads, t-shirts, name tags, business cards, and the sponsorship of charitable and community events. written permission from the owner is required - correct answer to advertise another licensees listing A gift, prize, or other valuable consideration may only be given as an incentive to a purchase, a listing, or lease if the gift or prize is made: - correct answer With the affiliated firm's approval and under its sponsorship. In writing and signed by the licensee Prize or Gift Disclosure of all pertinent details must be included, - correct answer Accurate details of the gift or prize, Fair market value of the gift or prize, The time and place of delivery of the offered item, Any requirements that the prospective buyer or lessor must satisfy 75% - correct answer passing score for broker examination required hours of education for brokers - correct answer 120 50 miles - correct answer distance in which a licensee must live from their firms office hours of education required for new broker to complete prior to 3rd anniversary - correct answer 120 broker and affiliate broker CEU requirements per 2 year licensing period - correct answer 16hrs $50 - correct answer penalty per 30 day period prior to 120 days for licensing lapse $100 - correct answer penalty per 30 day period beginning on 121st day but prior to 1 year $50 - correct answer change of address fee 10 days - correct answer amount of time licensees have to notify TREC of change of firm address requirement for educator - correct answer 4 year term and college degree $80 - correct answer license renewal fee Renewal Deadline - correct answer 60 days prior to expiration date Uniform Administrative Procedures Act. - correct answer - act that TREEC members must operate within 10 days - correct answer amount of time a licensee has to respond to a TREC complaint term for TREC member - correct answer 5 years