TN Timeshare Exam Practice Test Questions and Correct Solutions 2024/2025

TN Timeshare Exam Practice Test Questions and Correct Solutions 2024 What is the Tennessee Real Estate Commission? - Answer -Judicial body of real estate industry in TN Following discriminatory practice, you should make a complaint with ____ days. - Answer -180 What is a timeshare estate? - Answer -Ownership or leasehold estate in property devoted to a timeshare fee, tenants in common, time span ownership, interval ownership, and a time share lease. What is an acquisitions agent? - Answer -Licensed and attempts directly to encourage any person to attend a sales presentation for a timeshare program What is a purchaser? - Answer -Anyone who buys timeshare What is an exchange agent? - Answer -An agent for an exchange program What is a sales agent? - Answer -Person acting as a seller of any Time Share contract (only sell under specific time share developer) Anyone who sells timeshare. What is a person that sells more than 5 timeshares a year that are not their own? - Answer -Timeshare resale broker What is a unit?` - Answer -Real property improvements in a project which is divided into timeshare program. What is a managing agent? - Answer -Person with management duties and responsibilities and obligations of a timeshare program What are timeshare units? (what can be a timeshare) - Answer -Anything can be a timeshare unit unless expressly prohibited by project instruments or local governing laws What should be included in the Public Offering Statement? - Answer -name of county where property is located legal description of property ID of time periods by letter, name and number ID of timeshare estates and how many units can be a timeshare Common expenses and voting rights any restrictions on use occupancy alterations or alienation of timeshare units