TENNESSEE AFFILIATE BROKER STUDY GUIDE 2026
QUESTIONS AND ANSWERS GRADED A+
✔✔Tennessee does NOT consider which type of listing to be a legal listing? - ✔✔Net
listing
✔✔An ad violating Regulation Z is a violation of - ✔✔truth in lending.
✔✔Disclosure of finance cost and disclosure of closing costs - ✔✔differ in that
Regulation Z mandates finance cost disclosure; RESPA mandates closing cost
disclosure.
✔✔During the listing period, an agent showed a property to a buying prospect. The
prospect did not buy it. Two days later, the agent's listing agreement expired. Three
days later, the buyer purchased the property directly from the owner. The agent's
company may still be entitled to commission if the listing agreement contained a -
✔✔broker protection clause.
✔✔To justify a commission during a listing presentation, stating that when your firm lists
a property, the listing is marketed on multiple websites with a virtual tour would be an
example of - ✔✔value-added services.
✔✔In an exclusive agency listing, the sellers will - ✔✔not pay a commission if they
secure their own buyer.
✔✔For safety reasons, when conducting an open house, agents should - ✔✔have
another agent or licensed personal assistant present
✔✔Placing a listing in the MLS is a benefit to the seller because - ✔✔the properties are
exposed to a larger market.
✔✔An ad for a condominium for sale inviting buying prospects to "bring Rover" when, in
fact, the development has a no-pet policy is - ✔✔misleading and untruthful.
✔✔If an agent runs a real estate ad in general circulation media of a property for sale -
✔✔no ad has to be run in any ethnic publication.
✔✔Most often, the reason a property does NOT sell is that the - ✔✔property is
overpriced.
✔✔If a seller wants to list at a price slightly higher than recommended by the licensee,
the - ✔✔licensee should list at the price the seller suggests.
, ✔✔When a licensee performs a CMA for a seller, the licensee is suggesting to the seller
- ✔✔a probable sales price range.
✔✔Agents A and B are in competition for the same listing. A's firm is asking for a 6%
fee, and B's firm is asking for a 7% fee. To justify a higher fee, B should explain - ✔✔the
valued-added services her firm offers.
✔✔When owners disclose the net amount they wish to receive as a result of a real
estate sale, the broker - ✔✔can calculate selling expenses and suggest a list price.
✔✔If a seller insists on a list price substantially higher than the licensee's recommend
parameters, the licensee should - ✔✔either reject the listing or suggest that the seller
pay for an appraisal.
✔✔A likely reason firm A cannot advertise a listing of firm B is - ✔✔the seller has
chosen to opt out.
✔✔When cooperating brokers advertise a listing firm's listings, they must include a
statement that - ✔✔some of the listings do not belong to the advertiser.
✔✔Advertising media available to a real estate licensee is - ✔✔essentially unlimited.
✔✔With an exclusive right-to-sell listing, the - ✔✔listing firm normally offers cooperation
to other brokers.
✔✔After a listing presentation, a way to find out whether the sellers are ready to list is to
- ✔✔ask for the order.
✔✔A buyer wants to purchase a home along the banks of the Cumberland River. She is
concerned that the property may be in a floodplain. Her BEST source for current
information about the floodplain status of the property is - ✔✔the U.S. Army Corps of
Engineers.
✔✔A net listing is illegal in Tennessee because - ✔✔all commissions must be disclosed
in Tennessee.
✔✔The rule of law governing disclosure of closing costs in an ad is - ✔✔the Real Estate
Settlement Procedures Act.
✔✔A seller is currently occupying the home he wants to sell. The real estate agent
presents a Property Condition Disclosure form to the seller to complete and sign. He
refuses. The agent should attempt to have the seller complete a - ✔✔property condition
disclaimer statement.
QUESTIONS AND ANSWERS GRADED A+
✔✔Tennessee does NOT consider which type of listing to be a legal listing? - ✔✔Net
listing
✔✔An ad violating Regulation Z is a violation of - ✔✔truth in lending.
✔✔Disclosure of finance cost and disclosure of closing costs - ✔✔differ in that
Regulation Z mandates finance cost disclosure; RESPA mandates closing cost
disclosure.
✔✔During the listing period, an agent showed a property to a buying prospect. The
prospect did not buy it. Two days later, the agent's listing agreement expired. Three
days later, the buyer purchased the property directly from the owner. The agent's
company may still be entitled to commission if the listing agreement contained a -
✔✔broker protection clause.
✔✔To justify a commission during a listing presentation, stating that when your firm lists
a property, the listing is marketed on multiple websites with a virtual tour would be an
example of - ✔✔value-added services.
✔✔In an exclusive agency listing, the sellers will - ✔✔not pay a commission if they
secure their own buyer.
✔✔For safety reasons, when conducting an open house, agents should - ✔✔have
another agent or licensed personal assistant present
✔✔Placing a listing in the MLS is a benefit to the seller because - ✔✔the properties are
exposed to a larger market.
✔✔An ad for a condominium for sale inviting buying prospects to "bring Rover" when, in
fact, the development has a no-pet policy is - ✔✔misleading and untruthful.
✔✔If an agent runs a real estate ad in general circulation media of a property for sale -
✔✔no ad has to be run in any ethnic publication.
✔✔Most often, the reason a property does NOT sell is that the - ✔✔property is
overpriced.
✔✔If a seller wants to list at a price slightly higher than recommended by the licensee,
the - ✔✔licensee should list at the price the seller suggests.
, ✔✔When a licensee performs a CMA for a seller, the licensee is suggesting to the seller
- ✔✔a probable sales price range.
✔✔Agents A and B are in competition for the same listing. A's firm is asking for a 6%
fee, and B's firm is asking for a 7% fee. To justify a higher fee, B should explain - ✔✔the
valued-added services her firm offers.
✔✔When owners disclose the net amount they wish to receive as a result of a real
estate sale, the broker - ✔✔can calculate selling expenses and suggest a list price.
✔✔If a seller insists on a list price substantially higher than the licensee's recommend
parameters, the licensee should - ✔✔either reject the listing or suggest that the seller
pay for an appraisal.
✔✔A likely reason firm A cannot advertise a listing of firm B is - ✔✔the seller has
chosen to opt out.
✔✔When cooperating brokers advertise a listing firm's listings, they must include a
statement that - ✔✔some of the listings do not belong to the advertiser.
✔✔Advertising media available to a real estate licensee is - ✔✔essentially unlimited.
✔✔With an exclusive right-to-sell listing, the - ✔✔listing firm normally offers cooperation
to other brokers.
✔✔After a listing presentation, a way to find out whether the sellers are ready to list is to
- ✔✔ask for the order.
✔✔A buyer wants to purchase a home along the banks of the Cumberland River. She is
concerned that the property may be in a floodplain. Her BEST source for current
information about the floodplain status of the property is - ✔✔the U.S. Army Corps of
Engineers.
✔✔A net listing is illegal in Tennessee because - ✔✔all commissions must be disclosed
in Tennessee.
✔✔The rule of law governing disclosure of closing costs in an ad is - ✔✔the Real Estate
Settlement Procedures Act.
✔✔A seller is currently occupying the home he wants to sell. The real estate agent
presents a Property Condition Disclosure form to the seller to complete and sign. He
refuses. The agent should attempt to have the seller complete a - ✔✔property condition
disclaimer statement.
