TN Timeshare Exam 100% Solved
Correctly
What is the Tennessee Real Estate Commission? - ANSWER✔✔-Judicial body of real
estate industry in TN
Following discriminatory practice, you should make a complaint with ____ days. -
ANSWER✔✔-180
What is a timeshare estate? - ANSWER✔✔-Ownership or leasehold estate in property
devoted to a timeshare fee, tenants in common, time span ownership, interval
ownership, and a time share lease.
What is an acquisitions agent? - ANSWER✔✔-Licensed and attempts directly to
encourage any person to attend a sales presentation for a timeshare program
What is a purchaser? - ANSWER✔✔-Anyone who buys timeshare
What is an exchange agent? - ANSWER✔✔-An agent for an exchange program
What is a sales agent? - ANSWER✔✔-Person acting as a seller of any Time Share
contract (only sell under specific time share developer) Anyone who sells timeshare.
, What is a person that sells more than 5 timeshares a year that are not their own? -
ANSWER✔✔-Timeshare resale broker
What is a unit?` - ANSWER✔✔-Real property improvements in a project which is
divided into timeshare program.
What is a managing agent? - ANSWER✔✔-Person with management duties and
responsibilities and obligations of a timeshare program
What are timeshare units? (what can be a timeshare) - ANSWER✔✔-Anything can be a
timeshare unit unless expressly prohibited by project instruments or local governing
laws
What should be included in the Public Offering Statement? - ANSWER✔✔-name of
county where property is located
legal description of property
ID of time periods by letter, name and number
ID of timeshare estates and how many units can be a timeshare
Common expenses and voting rights
any restrictions on use occupancy alterations or alienation of timeshare units
ownership interest/maintenance provisions/ replacement
Correctly
What is the Tennessee Real Estate Commission? - ANSWER✔✔-Judicial body of real
estate industry in TN
Following discriminatory practice, you should make a complaint with ____ days. -
ANSWER✔✔-180
What is a timeshare estate? - ANSWER✔✔-Ownership or leasehold estate in property
devoted to a timeshare fee, tenants in common, time span ownership, interval
ownership, and a time share lease.
What is an acquisitions agent? - ANSWER✔✔-Licensed and attempts directly to
encourage any person to attend a sales presentation for a timeshare program
What is a purchaser? - ANSWER✔✔-Anyone who buys timeshare
What is an exchange agent? - ANSWER✔✔-An agent for an exchange program
What is a sales agent? - ANSWER✔✔-Person acting as a seller of any Time Share
contract (only sell under specific time share developer) Anyone who sells timeshare.
, What is a person that sells more than 5 timeshares a year that are not their own? -
ANSWER✔✔-Timeshare resale broker
What is a unit?` - ANSWER✔✔-Real property improvements in a project which is
divided into timeshare program.
What is a managing agent? - ANSWER✔✔-Person with management duties and
responsibilities and obligations of a timeshare program
What are timeshare units? (what can be a timeshare) - ANSWER✔✔-Anything can be a
timeshare unit unless expressly prohibited by project instruments or local governing
laws
What should be included in the Public Offering Statement? - ANSWER✔✔-name of
county where property is located
legal description of property
ID of time periods by letter, name and number
ID of timeshare estates and how many units can be a timeshare
Common expenses and voting rights
any restrictions on use occupancy alterations or alienation of timeshare units
ownership interest/maintenance provisions/ replacement
