Tennessee Timeshare License Tests Compilation Bundle

Timeshares correct answer: A timeshare property is one in which there is multiple shared ownership or multiple shared use of a piece of real estate. More than a hotel room, timeshares are condominium-style units that typically consist of one to three bedrooms, multiple bathrooms, a full kitchen, an...

timeshare estate correct answer: Pieces of real estate owned by multiple unrelated individuals who occupy the dwelling unit in one- to two-week intervals during the year. Timeshare use correct answer: Gives the purchaser the right to possess the property at given times for a given duration, but...

How many of the members of the Commission may come from the real estate industry? correct answer: 7 Which rule applies to the appointment of a full-time director of education? correct answer: The person must be a college graduate. What is the purpose of The Real Estate Act? correct answer: ...

Appurtenant correct answer: A homeowner has negotiated with a neighbor to obtain the permanent right to pass over the northern part of the neighbor's land to gain access to the river. He pays the neighbor $9,000 for the right of access and receives a deed. This is an easement A legal easement c...

What is the Tennessee Real Estate Commission (TREC)? correct answer: The Judicial Body of the Real Estate industry in Tennessee Following discriminatory practice, you should make complaint within ________ Days correct answer: 180 What is a time share estate? correct answer: Ownership or lea...

How long is a TSA license valid for? correct answer: 2 years If a timeshare AGENT initially becomes licensed on June 6, 2000, when will the license expire? correct answer: June 30, 2002 (end of the month - 2 years later) If a timeshare REPRESENTATIVE initially becomes licensed on June 6, 200...

timeshare units can be created correct answer: In any unit unless prohibted by local laws Receipt of public offering statement shall take place no later than: correct answer: Date of sale To be valid, a public offering letter must be: correct answer: Signed and dated Disclosure of recess...

1: there are normally three methods of scheduling fractional ownership. Which of the following would be characteristics of floating weeks of fixed rotations? Correct answer: package of weeks that vary from year to year 2: there are normally three methods of scheduling fractional ownership. Which...

Do you have to be a resident of the state to be licensed with TREC? correct answer: Yes How far ahead can you indicate a price increase? correct answer: No more than 6 months Can you misstate the value of a gift? correct answer: No Can you indicate that a prospective tour has won a prize...

Timeshare Units can be created: correct answer: in any unit unless prohibited by local laws Receipt of Public Offering Statement shall take place no later than: correct answer: date of sale To be valid, a Public Offering Statement must be: correct answer: signed AND dated Disclosure of R...

The judicial body of the real estate industry in the state of Tennessee. correct answer: What is the Tennessee Real Estate Commission? ∙ Nine members: 3 from each grand division of the state. ∙ 7 from the real estate industry ∙ 2 from the general public correct answer: Tennessee Real Es...

acquisition agent correct answer: people who solicit others to attend a presentation license expire correct answer: 2 years from the issued date powers of the commission correct answer: can fine you, suspend your license, or refer you to court reinstatement for expired license correct an...

Timeshare units can be created: correct answer: in any unit unless prohibited by local laws Receipt of Public Offering Statement shall take place no later than: correct answer: Date of sale To be valid, a Public Offering Statement must be: correct answer: signed and dated Disclosure of R...

What can be a timeshare? correct answer: Anything unless prohibited by another document or regulation. What is a project instrument? correct answer: All documents associated with a timeshare. What is the Tennessee Real Estate Commission (TREC)? correct answer: The judicial body of the real ...