TN timeshare study guide 2023/ 86
Questions and Correct Answers/ Graded A+
If there is a complaint against licensee, they must answer in how many days? - -10 days
-If a customer sees a timeshare and buys it how long do they have to cancel the
purchase? - -10 days
-If the customer does not see the time share and buys it how long do they have to cancel
the purchase? - -15 days
-If customer cancels purchase how long does the developer have to refund all the
monies? - -30 days
-If a public offering statment is incomplete how long do you have to ammend it? - -45
days
-How long before the time-share real estate expires must you renew? - -60 days
-If not renewed how much is the fine for the first 60 days? - -50 per month or part of
month due date to expiration
-If not renewed after 60 days how much is it to renew license - -100 per month or part
of month for 60 days beyond expiration
-Camping contracts must be canceled in how many days? - -15 days
-Camping contracts must be refunded in how many days? - -30 days
-Camping contract rain checks must be within how many days? - -120 days
-Commission must notify complainant of discriminatory practice in how many days? - -
10 days
-Either party may indicate civil action within how many days? - -20 days
-Complainant has how many days to appeal a ruling? - -30 days
-Commission has how many days to appeal ruling? - -30 days
-Must initiate "Court of Appeals" proceeding in how many days? - -30 days
-If civil action is taken commission must act within how many days? - -60 days
-Hearings concerning discrimination must be within how many days? - -90 days
, -Following discriminatory practice how long do you have to make a complaint? - -180
days
-If the commission doesn't schedule hearing, how long until you go to county chancery,
circuit court, or court of appeals? - -180 days
-What is the fee for licensing? - -100
-What is the education and recovery fee? - -30
-What is the license renewal fee? - -80
-TREC 1 Form name change fee? - -10
-TREC 1 Form firm name change fee? - -10
-TREC 1 Form change where you work fee? - -25
-TREC 1 Form to retire license fee? - -25
-TREC 1 Form to un-retire license fee? - -25
-TREC 1 Form to change broker fee? - -25
-TREC 1 Form to change firm address form? - -25
-Fee for registration of in-state time-share? - -100
-Annual renewal fee for timeshare interval plans? - -50
-Registration of out of state timeshare interval plans? - -200
-Anual renewal for out of state timeshare interval plans? - -100
-Aquisition agents registration fee? - -25
-Time Share Act registration of TS or Vacation club fee? - -500
-Request exemption form registration fee - -250
-1st time involuntary discrimination fee? - -10,000
-2nd time involuntary discrimination fee? - -25,000
-3rd time involuntary discrimination fee? - -50,000
-How long to preserve real estate transaction records? - -3 years
Questions and Correct Answers/ Graded A+
If there is a complaint against licensee, they must answer in how many days? - -10 days
-If a customer sees a timeshare and buys it how long do they have to cancel the
purchase? - -10 days
-If the customer does not see the time share and buys it how long do they have to cancel
the purchase? - -15 days
-If customer cancels purchase how long does the developer have to refund all the
monies? - -30 days
-If a public offering statment is incomplete how long do you have to ammend it? - -45
days
-How long before the time-share real estate expires must you renew? - -60 days
-If not renewed how much is the fine for the first 60 days? - -50 per month or part of
month due date to expiration
-If not renewed after 60 days how much is it to renew license - -100 per month or part
of month for 60 days beyond expiration
-Camping contracts must be canceled in how many days? - -15 days
-Camping contracts must be refunded in how many days? - -30 days
-Camping contract rain checks must be within how many days? - -120 days
-Commission must notify complainant of discriminatory practice in how many days? - -
10 days
-Either party may indicate civil action within how many days? - -20 days
-Complainant has how many days to appeal a ruling? - -30 days
-Commission has how many days to appeal ruling? - -30 days
-Must initiate "Court of Appeals" proceeding in how many days? - -30 days
-If civil action is taken commission must act within how many days? - -60 days
-Hearings concerning discrimination must be within how many days? - -90 days
, -Following discriminatory practice how long do you have to make a complaint? - -180
days
-If the commission doesn't schedule hearing, how long until you go to county chancery,
circuit court, or court of appeals? - -180 days
-What is the fee for licensing? - -100
-What is the education and recovery fee? - -30
-What is the license renewal fee? - -80
-TREC 1 Form name change fee? - -10
-TREC 1 Form firm name change fee? - -10
-TREC 1 Form change where you work fee? - -25
-TREC 1 Form to retire license fee? - -25
-TREC 1 Form to un-retire license fee? - -25
-TREC 1 Form to change broker fee? - -25
-TREC 1 Form to change firm address form? - -25
-Fee for registration of in-state time-share? - -100
-Annual renewal fee for timeshare interval plans? - -50
-Registration of out of state timeshare interval plans? - -200
-Anual renewal for out of state timeshare interval plans? - -100
-Aquisition agents registration fee? - -25
-Time Share Act registration of TS or Vacation club fee? - -500
-Request exemption form registration fee - -250
-1st time involuntary discrimination fee? - -10,000
-2nd time involuntary discrimination fee? - -25,000
-3rd time involuntary discrimination fee? - -50,000
-How long to preserve real estate transaction records? - -3 years
