Tennessee Affiliate Broker National Exam Version 2

Practice exam for Salesperson and Broker License Exam under Real Estate Exams (Licensing Exams). 5 sample questions.

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Sample Questions

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Exam Questions

Question 1
If you comply with their request, you are
A. guilty of discriminatory practices.
B. fulfilling your agency responsibilities.
C. implementing good risk management practices.
D. serving as the property manager in addition to the agent.
Correct Answer: A
Rationale: Complying with a request to discriminate violates fair housing laws. It is not agency duty, risk management, or property management.
Question 2
Which could legally be offered to a prospective seller as an incentive to enter into a listing contract?
A. $500 in cash.
B. A Visa or American Express gift card.
C. Payment of the premium for a home warranty.
D. A bank certificate of deposit with a value of $1,000.
Correct Answer: C
Rationale: A home warranty premium is a legal service incentive. Cash, gift cards, and CDs are considered illegal inducements under TREC rules.
Question 3
When a licensed affiliate broker advertises real estate services NOT for a franchise or cooperative advertising group, the advertisement must include the affiliate broker’s
A. name.
B. firm name.
C. license number.
D. telephone number.
Correct Answer: B
Rationale: TREC requires the firm name in solo ads to identify the brokerage. Name alone is insufficient. License number and phone are not required.
Question 4
For how long MUST a broker keep complete records of each completed real estate transaction?
A. Five years from the listing date.
B. Five years from the closing date.
C. Three years from the listing date.
D. Seven years from the closing date.
Correct Answer: B
Rationale: Records must be kept five years from closing date when the transaction is complete. Listing date starts earlier and is incorrect.
Question 5
If the purchaser of a timeshare wishes to waive his or her right to rescind the purchase, which is true?
A. He or she may only do so if the timeshare purchase contract includes a provision for cancellation after the first use of the timeshare property.
B. He or she must wait at least 24 hours after signing the purchase contract before he can waive his right to rescind.
C. He or she may only do so if the timeshare purchase is for a contract period of less than five years.
D. He or she may not waive his right to rescind under any circumstances.
Correct Answer: D
Rationale: Tennessee law does not allow waiver of the rescission period for timeshares. It is a protected consumer right.

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