Page |1
TN Timeshare Exam Practice Test
Questions and Correct Answers/ Latest
Update / Already Graded
What is the Tennessee Real Estate Commission?
Ans: Judicial body of real estate industry in TN
Following discriminatory practice, you should make a complaint with
____ days.
Ans: 180
What is a timeshare estate?
Ans: 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?
Ans: Licensed and attempts directly to encourage any person
to attend a sales presentation for a timeshare program
What is a purchaser?
All rights reserved © 2025/ 2026 |
, Page |2
Ans: Anyone who buys timeshare
What is an exchange agent?
Ans: An agent for an exchange program
What is a sales agent?
Ans: 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?
Ans: Timeshare resale broker
What is a unit?`
Ans: Real property improvements in a project which is divided
into timeshare program.
What is a managing agent?
Ans: Person with management duties and responsibilities and
obligations of a timeshare program
All rights reserved © 2025/ 2026 |
, Page |3
What are timeshare units? (what can be a timeshare)
Ans: 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?
Ans: 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
____ must be provided to each purchaser of a timeshare.
Ans: Public Offering statement
When must you give a public offering statement? What is the
exception?
All rights reserved © 2025/ 2026 |
TN Timeshare Exam Practice Test
Questions and Correct Answers/ Latest
Update / Already Graded
What is the Tennessee Real Estate Commission?
Ans: Judicial body of real estate industry in TN
Following discriminatory practice, you should make a complaint with
____ days.
Ans: 180
What is a timeshare estate?
Ans: 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?
Ans: Licensed and attempts directly to encourage any person
to attend a sales presentation for a timeshare program
What is a purchaser?
All rights reserved © 2025/ 2026 |
, Page |2
Ans: Anyone who buys timeshare
What is an exchange agent?
Ans: An agent for an exchange program
What is a sales agent?
Ans: 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?
Ans: Timeshare resale broker
What is a unit?`
Ans: Real property improvements in a project which is divided
into timeshare program.
What is a managing agent?
Ans: Person with management duties and responsibilities and
obligations of a timeshare program
All rights reserved © 2025/ 2026 |
, Page |3
What are timeshare units? (what can be a timeshare)
Ans: 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?
Ans: 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
____ must be provided to each purchaser of a timeshare.
Ans: Public Offering statement
When must you give a public offering statement? What is the
exception?
All rights reserved © 2025/ 2026 |
