Tennessee Timeshare Test 2023/ 64
Questions and Answers/ Graded A+
acquisition agent - -people who solicit others to attend a presentation
-license expire - -2 years from the issued date
-powers of the commission - -can fine you, suspend your license, or refer you to court
-reinstatement for expired license - -retake the test
-escrow account - -deposit for purchase into a bank account
-developer - -person/entity in the business of creating or selling any timeshare
program
-the project - -the development
-exchange agent - -RCl
-timeshare - -anything unless it is prohibited by other documents
-rental or whole ownership - -if the property is not a timeshare it is a
-public offering statement presentation - -first thing in the closing, must contain the
rescission statement in it
-rescission/cancellation period in TN - -10 or 15 days
-discrimination complaint - -180 days to submit a
-broker license - -you must spend three years as an affiliate broker before you can
apply for a
-errors and omission insurance - -all agents must have this to protect them against
inadequate or negative actions
-license - -you can apply for up to 6 months for your
-I am - -who is responsible for renewing your license
-property value - -what doesn't have to be in the truth and lending statement/public
offering statement
-misleading - -in advertising, any statement, action, or liam which is untrue
Questions and Answers/ Graded A+
acquisition agent - -people who solicit others to attend a presentation
-license expire - -2 years from the issued date
-powers of the commission - -can fine you, suspend your license, or refer you to court
-reinstatement for expired license - -retake the test
-escrow account - -deposit for purchase into a bank account
-developer - -person/entity in the business of creating or selling any timeshare
program
-the project - -the development
-exchange agent - -RCl
-timeshare - -anything unless it is prohibited by other documents
-rental or whole ownership - -if the property is not a timeshare it is a
-public offering statement presentation - -first thing in the closing, must contain the
rescission statement in it
-rescission/cancellation period in TN - -10 or 15 days
-discrimination complaint - -180 days to submit a
-broker license - -you must spend three years as an affiliate broker before you can
apply for a
-errors and omission insurance - -all agents must have this to protect them against
inadequate or negative actions
-license - -you can apply for up to 6 months for your
-I am - -who is responsible for renewing your license
-property value - -what doesn't have to be in the truth and lending statement/public
offering statement
-misleading - -in advertising, any statement, action, or liam which is untrue
