TENNESSEE (STATE EXAM) REAL ESTATE / COMPLETE
ACCURATE QUIZZES WITH DETAILED VERIFIED ANSWERS
/ 2025
Terms in this set (79)
Regulatory Powers Enable the agency to pass specific regulations and rules to
support the administration of the license law
Judicial Powers Enable it to conduct hearings and investigations into the
activities of licensees and to rule on license suspensions or
revocations
Administrative Powers Enable it to establish the staff organization, records, and
facilities to manage the licensing process and the licensees
themselves
Mission of the Tennessee Protect the public
Real Estate Commission
TREC consists of how many 9
members?
Who appoints members of Governor
TREC?
How many years are the 5
TREC member terms?
Who chooses the TREC The commission
chair, vice chair, and
executive director?
•High school diploma
Affiliate Broker
•Completion of 60 classroom hours + 30 credits
, Broker • Must have high school, 120 classroom hours, 90 credits,
Time Share Salesperson •High school diploma
•30 classroom hours
Only take state part of PSI exam
Contract Agreement between 2 or more parties who, in a "meeting of
the minds" have pledged to perform or refrain from
performing some act
Exclusive Listing Legally enforceable real estate agency agreement between a
Agreement real estate broker and a client, authorizing a real estate
licensee to act as a parties exclusive agent for the purchase,
sale, or lease of real estate
Commingling Mixing escrow funds into the same account as non escrow funds
Conversion Using escrow funds for the wrong purposes
Consumer Protection Act Law makes it a Class B Misdemeanor to commit any unfair or
deceptive act in any trade or commerce
Time Share Estate Ownership/leasehold estate in property devoted to a time
share fee, tenants in common, time span ownership,
interval ownership, and a time share lease
Time Share Program Arrangement for time share intervals in a time share project
where use is subject to a schedule on a periodic basis
occurring annually over any period of time in excess of 1 year
Vacation Club Program in which a purchaser obtains a recurring right to use
and occupy the space in more than one site through the
mandatory use of a reservation system
ACCURATE QUIZZES WITH DETAILED VERIFIED ANSWERS
/ 2025
Terms in this set (79)
Regulatory Powers Enable the agency to pass specific regulations and rules to
support the administration of the license law
Judicial Powers Enable it to conduct hearings and investigations into the
activities of licensees and to rule on license suspensions or
revocations
Administrative Powers Enable it to establish the staff organization, records, and
facilities to manage the licensing process and the licensees
themselves
Mission of the Tennessee Protect the public
Real Estate Commission
TREC consists of how many 9
members?
Who appoints members of Governor
TREC?
How many years are the 5
TREC member terms?
Who chooses the TREC The commission
chair, vice chair, and
executive director?
•High school diploma
Affiliate Broker
•Completion of 60 classroom hours + 30 credits
, Broker • Must have high school, 120 classroom hours, 90 credits,
Time Share Salesperson •High school diploma
•30 classroom hours
Only take state part of PSI exam
Contract Agreement between 2 or more parties who, in a "meeting of
the minds" have pledged to perform or refrain from
performing some act
Exclusive Listing Legally enforceable real estate agency agreement between a
Agreement real estate broker and a client, authorizing a real estate
licensee to act as a parties exclusive agent for the purchase,
sale, or lease of real estate
Commingling Mixing escrow funds into the same account as non escrow funds
Conversion Using escrow funds for the wrong purposes
Consumer Protection Act Law makes it a Class B Misdemeanor to commit any unfair or
deceptive act in any trade or commerce
Time Share Estate Ownership/leasehold estate in property devoted to a time
share fee, tenants in common, time span ownership,
interval ownership, and a time share lease
Time Share Program Arrangement for time share intervals in a time share project
where use is subject to a schedule on a periodic basis
occurring annually over any period of time in excess of 1 year
Vacation Club Program in which a purchaser obtains a recurring right to use
and occupy the space in more than one site through the
mandatory use of a reservation system
