TENNESSEE TIMESHARE TEST PAPER 2026 EXAM
QUESTIONS AND ANSWERS GRADED A+
✔✔What can you do if a guest does not have their gifts after 72 hours?? - ✔✔Give them
the gifts or the cash equivalent
✔✔What can be guaranteed to a purchaser? - ✔✔Anything in writing
✔✔What are multiple owners called? - ✔✔Tenants in common
✔✔When may TREC request access to your office records? - ✔✔Anytime during
business hours
✔✔What is the purpose of TREC? - ✔✔To protect the public
✔✔What documents are not contracts? - ✔✔DEEDS
✔✔Who can void the contract during the rescission period? - ✔✔Both the buyer and
seller
✔✔What is an example of a voidable contract? - ✔✔It lacks enforceability
✔✔Who is responsible for misleading advertising? - ✔✔The person who placed the ad
and the principal broker
✔✔What would keep a developer from obtaining a license? - ✔✔Bankruptcy or moral
issues
✔✔If your boss tells you to sell to women only, and you comply, what are you guilty of?
- ✔✔A variety of discriminatory actions
✔✔When is a public offering statement not required? - ✔✔During resale
✔✔Before a timeshare is a timeshare, what is it? - ✔✔A project
✔✔Can you indicated that a prospective tour has won a prize? - ✔✔NO
✔✔Can you misstate the value of a gift? - ✔✔NO
✔✔What must be stated in a Truth of Lending? - ✔✔Disclosure of everything related to
a loan
✔✔What must be there for a contract to be valid? - ✔✔- Offer and acceptance
- value consideration
QUESTIONS AND ANSWERS GRADED A+
✔✔What can you do if a guest does not have their gifts after 72 hours?? - ✔✔Give them
the gifts or the cash equivalent
✔✔What can be guaranteed to a purchaser? - ✔✔Anything in writing
✔✔What are multiple owners called? - ✔✔Tenants in common
✔✔When may TREC request access to your office records? - ✔✔Anytime during
business hours
✔✔What is the purpose of TREC? - ✔✔To protect the public
✔✔What documents are not contracts? - ✔✔DEEDS
✔✔Who can void the contract during the rescission period? - ✔✔Both the buyer and
seller
✔✔What is an example of a voidable contract? - ✔✔It lacks enforceability
✔✔Who is responsible for misleading advertising? - ✔✔The person who placed the ad
and the principal broker
✔✔What would keep a developer from obtaining a license? - ✔✔Bankruptcy or moral
issues
✔✔If your boss tells you to sell to women only, and you comply, what are you guilty of?
- ✔✔A variety of discriminatory actions
✔✔When is a public offering statement not required? - ✔✔During resale
✔✔Before a timeshare is a timeshare, what is it? - ✔✔A project
✔✔Can you indicated that a prospective tour has won a prize? - ✔✔NO
✔✔Can you misstate the value of a gift? - ✔✔NO
✔✔What must be stated in a Truth of Lending? - ✔✔Disclosure of everything related to
a loan
✔✔What must be there for a contract to be valid? - ✔✔- Offer and acceptance
- value consideration
