Practice Test TN Real Estate state
Questions With Guaranteed Pass
Solutions.
TREC can hold as many meetings as it deems necessary throughout the year, but it must have a
minimum of three meetings. Where must these meetings take place? - Answer One in each,
West, middle, east division
Gideon is planning to run a full-page ad in the Knoxville newspaper to promote his open house
in two weeks. He'll be offering a free overnight stay at a local resort to the winner of the door
prize. Which of the following is a true statement? - Answer Gideon's ad must clearly state the
value and all qualifications and accurate specifications of the prize.
A principal broker in Tennessee is required to ______ for all transactions in which affiliated
licensees participate. - Answer Review and approve transactional documents and agreements
How many members of TREC are licensed real estate brokers or affiliate brokers in Tennessee? -
Answer 7
Ralph is a broker whose license was suspended when one of his affiliated brokers committed a
violation. This is mostly likely because ______ - Answer Ralph either knew about the violation
or is guilty of failure to supervise
Mike is applying for an affiliate broker license. What type of written examination requirement
does this type of license have? - Answer The applicant must pass the national and state exams
with a score of 70% or greater.
Deborah, a sponsoring broker, is required to display the licenses of ________. - Answer All
affiliate brokers, both independent contractors and employees
Who's entitled to reimbursement from the Real Estate Education and Recovery Account? -
Answer A member of the public who's been granted a judgment against a licensee
Which of these must Tennessee licensees disclose relative to specific real estate transactions
handled by their brokerages? - Answer Immediate family relationships
, Ted and Tanya, Tennessee buyers, are represented by Brooke Sales. They want to make an offer
on a home and give Brooke a check for $5,000 for earnest money. The check is post-dated for a
week. Ted explains, "We have the money, but I need to shuffle a few things around before this
check is good." Can Ted and Tanya do this? - Answer No. Earnest money needs to be able to be
deposited immediately, so a post-dated check won't work.
Which of the following statements is true regarding the termination date of a listing agreement
or sales contract in Tennessee? - Answer A definite termination date must be included.
In addition to a firm real estate license and a principal broker, what else must real estate firms
have to meet Tennessee firm license requirements? - Answer A physical location and facility
that can adequately accommodate affiliated licensees
Which of the following would you need to disclose about a listed property? - Answer Your
stepfather is the property owner.
Elana is marketing a new listing. What must she obtain before posting a for sale sign in the
seller's yard? - Answer The seller's written permission
A default to facilitator policy is an attempt to avoid what? - Answer Dual agency
Dual agency - Answer real estate scenario where a real estate agent represents both the buyer
and seller on the same transaction. Rather than split the commission between buyer agent and
listing agent — as a transaction normally would — dual agency gives the entire sum to one
agent.
As a security precaution, which of the following should Tennessee licensees do? - Answer Limit
the amount of personal information they post.
What must all agreements and contracts have per the Tennessee Real Estate Commission? -
Answer Termination date
Donnie is the buyer's agent for a transaction in which May (from a different brokerage) listed
her seller client George's property. From whom will Donnie receive his compensation? - Answer
From his own broker
Questions With Guaranteed Pass
Solutions.
TREC can hold as many meetings as it deems necessary throughout the year, but it must have a
minimum of three meetings. Where must these meetings take place? - Answer One in each,
West, middle, east division
Gideon is planning to run a full-page ad in the Knoxville newspaper to promote his open house
in two weeks. He'll be offering a free overnight stay at a local resort to the winner of the door
prize. Which of the following is a true statement? - Answer Gideon's ad must clearly state the
value and all qualifications and accurate specifications of the prize.
A principal broker in Tennessee is required to ______ for all transactions in which affiliated
licensees participate. - Answer Review and approve transactional documents and agreements
How many members of TREC are licensed real estate brokers or affiliate brokers in Tennessee? -
Answer 7
Ralph is a broker whose license was suspended when one of his affiliated brokers committed a
violation. This is mostly likely because ______ - Answer Ralph either knew about the violation
or is guilty of failure to supervise
Mike is applying for an affiliate broker license. What type of written examination requirement
does this type of license have? - Answer The applicant must pass the national and state exams
with a score of 70% or greater.
Deborah, a sponsoring broker, is required to display the licenses of ________. - Answer All
affiliate brokers, both independent contractors and employees
Who's entitled to reimbursement from the Real Estate Education and Recovery Account? -
Answer A member of the public who's been granted a judgment against a licensee
Which of these must Tennessee licensees disclose relative to specific real estate transactions
handled by their brokerages? - Answer Immediate family relationships
, Ted and Tanya, Tennessee buyers, are represented by Brooke Sales. They want to make an offer
on a home and give Brooke a check for $5,000 for earnest money. The check is post-dated for a
week. Ted explains, "We have the money, but I need to shuffle a few things around before this
check is good." Can Ted and Tanya do this? - Answer No. Earnest money needs to be able to be
deposited immediately, so a post-dated check won't work.
Which of the following statements is true regarding the termination date of a listing agreement
or sales contract in Tennessee? - Answer A definite termination date must be included.
In addition to a firm real estate license and a principal broker, what else must real estate firms
have to meet Tennessee firm license requirements? - Answer A physical location and facility
that can adequately accommodate affiliated licensees
Which of the following would you need to disclose about a listed property? - Answer Your
stepfather is the property owner.
Elana is marketing a new listing. What must she obtain before posting a for sale sign in the
seller's yard? - Answer The seller's written permission
A default to facilitator policy is an attempt to avoid what? - Answer Dual agency
Dual agency - Answer real estate scenario where a real estate agent represents both the buyer
and seller on the same transaction. Rather than split the commission between buyer agent and
listing agent — as a transaction normally would — dual agency gives the entire sum to one
agent.
As a security precaution, which of the following should Tennessee licensees do? - Answer Limit
the amount of personal information they post.
What must all agreements and contracts have per the Tennessee Real Estate Commission? -
Answer Termination date
Donnie is the buyer's agent for a transaction in which May (from a different brokerage) listed
her seller client George's property. From whom will Donnie receive his compensation? - Answer
From his own broker
