Affiliate Broker Test - TN 2023/2024
question and answers 100%
Which of the following is a violation of federal fair housing law?
A) A landlord refuses to rent to anyone under the age of 30.
B) A private homeowner advertises a private house share using the
phrase: "No minorities."
C) private homeowner lives in a duplex and won't rent the other half to
a pregnant woman.
D) private homeowner lives in a triplex and won't rent one of the units
to a family. - correct answerA private homeowner advertises a private
house share using the phrase: "No minorities."
What is the definition of an appraisal?
A) An estimate of value for a specific purpose, party, and property as
of a specific date
B) An estimate of value that provides a buyer with a "not-to-exceed"
offer recommendation
C) An estimate of value that provides a lending institution with a risk
assessment regarding the decision to lend money
D) An estimate of value that provides a seller with a range of listing
prices - correct answerAn estimate of value for a specific purpose,
party, and property as of a specific date
From a real estate professional's point of view, what's the purpose of
qualifying buyers?
A) To determine the buyer's readiness to buy
B) To determine whether the buyer is has enough money to pay you a
good commission
C) To learn if you have anything in common with the buyer
D) To see if the buyer can provide you with an appropriate advance
fee - correct answerTo determine the buyer's readiness to buy
,Which one of these describes a deed?
A) Abstract of title
B) Ownership document
C) Promissory note
D) Recording fee - correct answerOwnership document
The ______ protects consumers from unwanted email solicitations.
A) Anti-Telemarketer Act of 2000
B) CAN-SPAM Act of 2003
C) Do Not Call Implementation Act of 2003
D) Junk Fax Prevention Act of 2005 - correct answerCAN-SPAM Act
of 2003
Which law requires the EPA to establish air quality standards?
A) The Clean Air Act of 1970
B) The Clean Air Act of 2010
C) The Environmental Quality Act of 1970
D) The EPA Air Quality Standards Act - correct answerThe Clean Air
Act of 1970
Buyer Penelope adores the house at 212 Maple Street, but two weeks
after making her offer, she's discovered it's got some issues that
weren't identified on the state-required seller disclosure form. She still
wants to buy the house. Since the seller appears to have lied on the
disclosure form, what can Penelope do?
A) Ask the seller to make the repairs needed, or ask for a credit to
cover the cost of those repairs.
B) Because the seller lied on the disclosure forms, the purchase
contract is invalidated, so Penelope must make a new offer.
C) Complete the transaction, then sue the seller for fraud.
,D) Reduce the amount of her offer. - correct answerAsk the seller to
make the repairs needed, or ask for a credit to cover the cost of those
repairs.
Mary Lou owns property in a rural part of the state. She was recently
approached by a representative of a company that would like to drill
for oil on a piece of her property. What type of lease is the
representative likely discussing with Mary Lou?
A) Ground lease
B) Land use lease
C) Oil and gas lease
D) Residential lease - correct answerOil and gas lease
What score does an applicant need to pass the national and state
exams for a real estate broker license in Tennessee?
A) 70% or greater
B) 75% or greater
C) 80% or greater
D) 85% or greater - correct answer75% or greater
Marissa, a buyer, asks you what she can do to prepare to buy. What
should you tell her?
A) She should determine how much furniture she will need.
B) She should determine whom she wants to live near.
C) She should get a second job for additional income.
D) She should get pre-qualified. - correct answerShe should get pre-
qualified.
Which of the following is a benefit of the MLS from a broker's
standpoint?
A) It increases the broker's chance for double-ending the deal.
B) It provides better market exposure, perhaps resulting in a quicker
sale at a higher price.
, C) It reduces the cooperating commission that must be paid.
D) It's free. - correct answerIt provides better market exposure,
perhaps resulting in a quicker sale at a higher price.
What's the area of a rectangular building that's 40 feet by 20 feet?
A) 800 feet
B) 800 square feet
C) 80 feet
D) 80 square feet - correct answer800 square feet
Which choice correctly identifies the seven protected classes
according to the Fair Housing Act?
A)Military service, color, national origin, religion, sex, familial status,
and disability
B) Race, color, age, religion, sex, military service, and disability
C) Race, color, national origin, religion, sex, familial status, and
criminal history
D) Race, color, national origin, religion, sex, familial status, and
disability - correct answerRace, color, national origin, religion, sex,
familial status, and disability
How do predatory lenders take advantage of consumers?
A) Making loans to consumers who can't afford them
B) Not selling their loans on the secondary market
C) Selling their loans on the secondary market
D) Underwriting loans - correct answerMaking loans to consumers
who can't afford them
What type of license will you receive if you have a supervising broker
at the time of application?
A) Active license
B) Broker's license
C) Firm license
question and answers 100%
Which of the following is a violation of federal fair housing law?
A) A landlord refuses to rent to anyone under the age of 30.
B) A private homeowner advertises a private house share using the
phrase: "No minorities."
C) private homeowner lives in a duplex and won't rent the other half to
a pregnant woman.
D) private homeowner lives in a triplex and won't rent one of the units
to a family. - correct answerA private homeowner advertises a private
house share using the phrase: "No minorities."
What is the definition of an appraisal?
A) An estimate of value for a specific purpose, party, and property as
of a specific date
B) An estimate of value that provides a buyer with a "not-to-exceed"
offer recommendation
C) An estimate of value that provides a lending institution with a risk
assessment regarding the decision to lend money
D) An estimate of value that provides a seller with a range of listing
prices - correct answerAn estimate of value for a specific purpose,
party, and property as of a specific date
From a real estate professional's point of view, what's the purpose of
qualifying buyers?
A) To determine the buyer's readiness to buy
B) To determine whether the buyer is has enough money to pay you a
good commission
C) To learn if you have anything in common with the buyer
D) To see if the buyer can provide you with an appropriate advance
fee - correct answerTo determine the buyer's readiness to buy
,Which one of these describes a deed?
A) Abstract of title
B) Ownership document
C) Promissory note
D) Recording fee - correct answerOwnership document
The ______ protects consumers from unwanted email solicitations.
A) Anti-Telemarketer Act of 2000
B) CAN-SPAM Act of 2003
C) Do Not Call Implementation Act of 2003
D) Junk Fax Prevention Act of 2005 - correct answerCAN-SPAM Act
of 2003
Which law requires the EPA to establish air quality standards?
A) The Clean Air Act of 1970
B) The Clean Air Act of 2010
C) The Environmental Quality Act of 1970
D) The EPA Air Quality Standards Act - correct answerThe Clean Air
Act of 1970
Buyer Penelope adores the house at 212 Maple Street, but two weeks
after making her offer, she's discovered it's got some issues that
weren't identified on the state-required seller disclosure form. She still
wants to buy the house. Since the seller appears to have lied on the
disclosure form, what can Penelope do?
A) Ask the seller to make the repairs needed, or ask for a credit to
cover the cost of those repairs.
B) Because the seller lied on the disclosure forms, the purchase
contract is invalidated, so Penelope must make a new offer.
C) Complete the transaction, then sue the seller for fraud.
,D) Reduce the amount of her offer. - correct answerAsk the seller to
make the repairs needed, or ask for a credit to cover the cost of those
repairs.
Mary Lou owns property in a rural part of the state. She was recently
approached by a representative of a company that would like to drill
for oil on a piece of her property. What type of lease is the
representative likely discussing with Mary Lou?
A) Ground lease
B) Land use lease
C) Oil and gas lease
D) Residential lease - correct answerOil and gas lease
What score does an applicant need to pass the national and state
exams for a real estate broker license in Tennessee?
A) 70% or greater
B) 75% or greater
C) 80% or greater
D) 85% or greater - correct answer75% or greater
Marissa, a buyer, asks you what she can do to prepare to buy. What
should you tell her?
A) She should determine how much furniture she will need.
B) She should determine whom she wants to live near.
C) She should get a second job for additional income.
D) She should get pre-qualified. - correct answerShe should get pre-
qualified.
Which of the following is a benefit of the MLS from a broker's
standpoint?
A) It increases the broker's chance for double-ending the deal.
B) It provides better market exposure, perhaps resulting in a quicker
sale at a higher price.
, C) It reduces the cooperating commission that must be paid.
D) It's free. - correct answerIt provides better market exposure,
perhaps resulting in a quicker sale at a higher price.
What's the area of a rectangular building that's 40 feet by 20 feet?
A) 800 feet
B) 800 square feet
C) 80 feet
D) 80 square feet - correct answer800 square feet
Which choice correctly identifies the seven protected classes
according to the Fair Housing Act?
A)Military service, color, national origin, religion, sex, familial status,
and disability
B) Race, color, age, religion, sex, military service, and disability
C) Race, color, national origin, religion, sex, familial status, and
criminal history
D) Race, color, national origin, religion, sex, familial status, and
disability - correct answerRace, color, national origin, religion, sex,
familial status, and disability
How do predatory lenders take advantage of consumers?
A) Making loans to consumers who can't afford them
B) Not selling their loans on the secondary market
C) Selling their loans on the secondary market
D) Underwriting loans - correct answerMaking loans to consumers
who can't afford them
What type of license will you receive if you have a supervising broker
at the time of application?
A) Active license
B) Broker's license
C) Firm license
