Tennessee Timeshare License Exam 2026
Questions and 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
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, 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
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Questions and 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
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, 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
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
