Real Estate Broker Exam Practice
questions with correct answers
Who |makes |and |changes |the |Commission |rules? |
Qualified |state |courts
The |Commission
The |state |legislature
A |committee |appointed |by |the |Governor |- |correct |answer |-The |Commission
The |Human |Rights |Act |exists |to |ensure |that |
national |mandated |rights |are |carried |out.
basic |rental |rights |laws |are |carried |out.
local |civil |rights |laws |are |carried |out.
federal |civil |rights |laws |are |carried |out. |- |correct |answer |-federal |civil |rights |laws |are |carried |out.
Which |law |regulates |the |sale |and |promotion |of |vacation |clubs? |
The |Summer |Act |of |1967
The |Tennessee |Vacation |Club |Act |of |1995
The |Lake |and |Stream |Act |of |1995
The |Vacations |Act |of |1988 |- |correct |answer |-The |Tennessee |Vacation |Club |Act |of |1995
Which |of |the |following |is |a |section |in |the |License |Act?
Obtaining |listings
Office |management
,Selling |and |marketing
Qualifications |and |licensing |- |correct |answer |-Qualifications |and |licensing
What |is |the |overall |purpose |of |the |Tennessee |Broker |License |Act?
To |create |brokers |and |affiliate |brokers
To |protect |the |public |from |irresponsible |or |unscrupulous |people |in |the |real |estate |business
To |regulate |real |estate |markets |and |broker |commissions |in |Tennessee
To |create |a |Real |Estate |Commission |and |a |set |of |rules |for |it |to |enforce |- |correct |answer |-To |
protect |the |public |from |irresponsible |or |unscrupulous |people |in |the |real |estate |business
What |is |the |purpose |of |the |Commission |rules? |
To |keep |unlicensed |persons |from |collecting |commissions
To |control |the |real |estate |industry |in |Tennessee
To |test |the |effects |of |new |regulations |before |they |become |law
To |enable |the |Commission |to |carry |out |its |duties |under |the |License |Act |- |correct |answer |-To |
enable |the |Commission |to |carry |out |its |duties |under |the |License |Act
When |is |it |legal |for |the |Commission |to |set |real |estate |commissions? |
At |the |beginning |of |the |fiscal |year
Whenever |it |sees |fit
,Never
When |requested |to |do |so |by |a |competent |court |- |correct |answer |-Never
Which |rule |applies |to |the |appointment |of |a |full-time |director |of |education? |
The |person |must |be |a |college |graduate.
The |person |must |hold |a |real |estate |license.
The |person |must |be |over |25 |years |of |age.
The |person |must |have |lived |in |the |State |for |over |5 |years. |- |correct |answer |-The |person |must |be |
a |college |graduate.
Among |the |Commission's |duties |and |responsibilities |are |
establishing |standards |of |practice |for |licensees.
establishing |commission |rates |for |standard |services.
hiring |instructors |for |real |estate |schools.
educating |the |public |about |licensee's |illegal |behavior. |- |correct |answer |-establishing |standards |of |
practice |for |licensees.
What |minimum |balance |must |always |be |maintained |in |the |Recovery |Fund? |
$50,000
$100,000
$500,000
$1,000,000 |- |correct |answer |-$500,000
Which |of |the |following |actions |can |the |Commission |NOT |take? |
Regulate |real |estate |training |schools.
, Establish |ethic |standards |for |licensees. |
Set |commissions. |
Establish |meeting |dates |to |carry |out |its |responsibilities. |- |correct |answer |-Set |commissions.
A |person |in |violation |of |the |Recovery |Act |cannot |be |reinstated |until |he |or |she |has |
repaid |the |full |amount |plus |interest |to |the |State |Treasurer |.
repaid |the |full |amount |plus |interest |to |the |victim.
repaid |50% |of |the |full |amount |plus |interest |to |the |fund.
repaid |the |full |amount |plus |interest |to |the |fund. |- |correct |answer |-repaid |the |full |amount |plus |
interest |to |the |fund.
How |is |the |Real |Estate |Recovery |Fund |funded? |
By |appropriation |in |the |state |budget
By |a |tax |on |all |real |estate |transactions
By |fines |levied |on |violators |of |the |License |Act
By |fees |paid |by |applicants |for |license |and |license |renewal |- |correct |answer |-By |fees |paid |by |
applicants |for |license |and |license |renewal
How |many |of |the |members |of |the |Commission |may |come |from |the |real |estate |industry?
None
Two
Five
Seven |- |correct |answer |-Seven
Who |chooses |the |chairman |of |the |Real |Estate |Commission?
questions with correct answers
Who |makes |and |changes |the |Commission |rules? |
Qualified |state |courts
The |Commission
The |state |legislature
A |committee |appointed |by |the |Governor |- |correct |answer |-The |Commission
The |Human |Rights |Act |exists |to |ensure |that |
national |mandated |rights |are |carried |out.
basic |rental |rights |laws |are |carried |out.
local |civil |rights |laws |are |carried |out.
federal |civil |rights |laws |are |carried |out. |- |correct |answer |-federal |civil |rights |laws |are |carried |out.
Which |law |regulates |the |sale |and |promotion |of |vacation |clubs? |
The |Summer |Act |of |1967
The |Tennessee |Vacation |Club |Act |of |1995
The |Lake |and |Stream |Act |of |1995
The |Vacations |Act |of |1988 |- |correct |answer |-The |Tennessee |Vacation |Club |Act |of |1995
Which |of |the |following |is |a |section |in |the |License |Act?
Obtaining |listings
Office |management
,Selling |and |marketing
Qualifications |and |licensing |- |correct |answer |-Qualifications |and |licensing
What |is |the |overall |purpose |of |the |Tennessee |Broker |License |Act?
To |create |brokers |and |affiliate |brokers
To |protect |the |public |from |irresponsible |or |unscrupulous |people |in |the |real |estate |business
To |regulate |real |estate |markets |and |broker |commissions |in |Tennessee
To |create |a |Real |Estate |Commission |and |a |set |of |rules |for |it |to |enforce |- |correct |answer |-To |
protect |the |public |from |irresponsible |or |unscrupulous |people |in |the |real |estate |business
What |is |the |purpose |of |the |Commission |rules? |
To |keep |unlicensed |persons |from |collecting |commissions
To |control |the |real |estate |industry |in |Tennessee
To |test |the |effects |of |new |regulations |before |they |become |law
To |enable |the |Commission |to |carry |out |its |duties |under |the |License |Act |- |correct |answer |-To |
enable |the |Commission |to |carry |out |its |duties |under |the |License |Act
When |is |it |legal |for |the |Commission |to |set |real |estate |commissions? |
At |the |beginning |of |the |fiscal |year
Whenever |it |sees |fit
,Never
When |requested |to |do |so |by |a |competent |court |- |correct |answer |-Never
Which |rule |applies |to |the |appointment |of |a |full-time |director |of |education? |
The |person |must |be |a |college |graduate.
The |person |must |hold |a |real |estate |license.
The |person |must |be |over |25 |years |of |age.
The |person |must |have |lived |in |the |State |for |over |5 |years. |- |correct |answer |-The |person |must |be |
a |college |graduate.
Among |the |Commission's |duties |and |responsibilities |are |
establishing |standards |of |practice |for |licensees.
establishing |commission |rates |for |standard |services.
hiring |instructors |for |real |estate |schools.
educating |the |public |about |licensee's |illegal |behavior. |- |correct |answer |-establishing |standards |of |
practice |for |licensees.
What |minimum |balance |must |always |be |maintained |in |the |Recovery |Fund? |
$50,000
$100,000
$500,000
$1,000,000 |- |correct |answer |-$500,000
Which |of |the |following |actions |can |the |Commission |NOT |take? |
Regulate |real |estate |training |schools.
, Establish |ethic |standards |for |licensees. |
Set |commissions. |
Establish |meeting |dates |to |carry |out |its |responsibilities. |- |correct |answer |-Set |commissions.
A |person |in |violation |of |the |Recovery |Act |cannot |be |reinstated |until |he |or |she |has |
repaid |the |full |amount |plus |interest |to |the |State |Treasurer |.
repaid |the |full |amount |plus |interest |to |the |victim.
repaid |50% |of |the |full |amount |plus |interest |to |the |fund.
repaid |the |full |amount |plus |interest |to |the |fund. |- |correct |answer |-repaid |the |full |amount |plus |
interest |to |the |fund.
How |is |the |Real |Estate |Recovery |Fund |funded? |
By |appropriation |in |the |state |budget
By |a |tax |on |all |real |estate |transactions
By |fines |levied |on |violators |of |the |License |Act
By |fees |paid |by |applicants |for |license |and |license |renewal |- |correct |answer |-By |fees |paid |by |
applicants |for |license |and |license |renewal
How |many |of |the |members |of |the |Commission |may |come |from |the |real |estate |industry?
None
Two
Five
Seven |- |correct |answer |-Seven
Who |chooses |the |chairman |of |the |Real |Estate |Commission?
