TENNESSEE TIMESHARE CORE EXAM 2026 TEST
QUESTIONS AND ANSWERS GRADED A+
✔✔What cannot be paid to any person who does not hold a real estate license? -
✔✔Cash rebates, cash gifts, and cash prizes
✔✔If for any reason, a guest has not received their gifts within a period of___ they may
be given the gift or the cash equivalent. - ✔✔72 hours
✔✔What are the powers of the real estate commission? - ✔✔They can fine licensees,
they can suspend your license, they can refer you to a court of law, their investigators
can come by at anytime during business hours to see any of your records and they can
close a development.
✔✔The real estate commission forms all the rules in accordance with the_____ -
✔✔Tennessee code annotated
✔✔What are the prerequisites for licensing? - ✔✔Honest
18 years old
Resident of state
Not a criminal
Not on probation
✔✔True or false? An applicant who has passed the exam within the last six months is
not necessarily qualified for a license. - ✔✔True
✔✔What is the renewal fee for the license? - ✔✔$80
✔✔What is the original license fee ______ Plus ___ for education and recovery fee -
✔✔$100
$10
✔✔You must renew your license ____ days prior to expiration - ✔✔60
✔✔You must make a minimum passing score of________ percent on your license
exam - ✔✔70
✔✔If you terminate your affiliation, you have___ days to notify the commission - ✔✔10
✔✔Example: if your broker tells you to sell only to a particular group, and you do as you
were instructed, you were guilty of ____ - ✔✔Discrimination
, ✔✔What are the requirements for a contract and agreement to be made? - ✔✔Offer
and acceptance, valid consideration, competent parties, legal purposes, reality of
consent
✔✔Disclosure of everything related to a loan is considered____ - ✔✔Truth in lending
✔✔_____ is a consumer credit protection law which is part of truth in lending. -
✔✔Regulation-Z
✔✔When does your license expire? - ✔✔Two years less one day from the date of issue
✔✔How do you get reinstated if you let your license expire? - ✔✔The penalty is $50 per
month for two months then $100 per month up to six months, after that you must re-test
✔✔Who is the developer? Can they be refused a license or registration? - ✔✔The
seller. Yes, if they are a moral or financially unstable
✔✔What is an example of an exchange agent? - ✔✔RCI agent
✔✔What can be a timeshare? - ✔✔Anything, unless prohibited by other document for
local regulations
✔✔What is a project instrument? - ✔✔All documents associated with the timeshare
✔✔If the property is not a timeshare, what is it? - ✔✔Rental or whole ownership
✔✔When do we present the public offering statement? - ✔✔First thing in the deeding.
Must have rescission statement on it
✔✔What is the form by which you will be all business with the commission is conducted
after licensing? - ✔✔TREC-1
✔✔When one of the contract essentials is missing, the contract is ___ - ✔✔Voidable
✔✔How long do you have to spend as an affiliate before applying to be a broker? -
✔✔Three years
✔✔How long after passing the test do you have to apply for a license? - ✔✔Six months
then retest
✔✔Whose job is it to make sure that you renew your license? - ✔✔The licensee
✔✔What is an example of a voidable contract? - ✔✔Lacks enforceability
QUESTIONS AND ANSWERS GRADED A+
✔✔What cannot be paid to any person who does not hold a real estate license? -
✔✔Cash rebates, cash gifts, and cash prizes
✔✔If for any reason, a guest has not received their gifts within a period of___ they may
be given the gift or the cash equivalent. - ✔✔72 hours
✔✔What are the powers of the real estate commission? - ✔✔They can fine licensees,
they can suspend your license, they can refer you to a court of law, their investigators
can come by at anytime during business hours to see any of your records and they can
close a development.
✔✔The real estate commission forms all the rules in accordance with the_____ -
✔✔Tennessee code annotated
✔✔What are the prerequisites for licensing? - ✔✔Honest
18 years old
Resident of state
Not a criminal
Not on probation
✔✔True or false? An applicant who has passed the exam within the last six months is
not necessarily qualified for a license. - ✔✔True
✔✔What is the renewal fee for the license? - ✔✔$80
✔✔What is the original license fee ______ Plus ___ for education and recovery fee -
✔✔$100
$10
✔✔You must renew your license ____ days prior to expiration - ✔✔60
✔✔You must make a minimum passing score of________ percent on your license
exam - ✔✔70
✔✔If you terminate your affiliation, you have___ days to notify the commission - ✔✔10
✔✔Example: if your broker tells you to sell only to a particular group, and you do as you
were instructed, you were guilty of ____ - ✔✔Discrimination
, ✔✔What are the requirements for a contract and agreement to be made? - ✔✔Offer
and acceptance, valid consideration, competent parties, legal purposes, reality of
consent
✔✔Disclosure of everything related to a loan is considered____ - ✔✔Truth in lending
✔✔_____ is a consumer credit protection law which is part of truth in lending. -
✔✔Regulation-Z
✔✔When does your license expire? - ✔✔Two years less one day from the date of issue
✔✔How do you get reinstated if you let your license expire? - ✔✔The penalty is $50 per
month for two months then $100 per month up to six months, after that you must re-test
✔✔Who is the developer? Can they be refused a license or registration? - ✔✔The
seller. Yes, if they are a moral or financially unstable
✔✔What is an example of an exchange agent? - ✔✔RCI agent
✔✔What can be a timeshare? - ✔✔Anything, unless prohibited by other document for
local regulations
✔✔What is a project instrument? - ✔✔All documents associated with the timeshare
✔✔If the property is not a timeshare, what is it? - ✔✔Rental or whole ownership
✔✔When do we present the public offering statement? - ✔✔First thing in the deeding.
Must have rescission statement on it
✔✔What is the form by which you will be all business with the commission is conducted
after licensing? - ✔✔TREC-1
✔✔When one of the contract essentials is missing, the contract is ___ - ✔✔Voidable
✔✔How long do you have to spend as an affiliate before applying to be a broker? -
✔✔Three years
✔✔How long after passing the test do you have to apply for a license? - ✔✔Six months
then retest
✔✔Whose job is it to make sure that you renew your license? - ✔✔The licensee
✔✔What is an example of a voidable contract? - ✔✔Lacks enforceability
