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TN Exam Prep Quiz 333 questions and answers | accurate and verified with rationales | updated 2024 | graded A+ | guaranteed pass $7.99   Add to cart
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TN Exam Prep Quiz 333 questions and answers | accurate and verified with rationales | updated 2024 | graded A+ | guaranteed pass
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  • Tennessee Real Estate Prep

TN Exam Prep Quiz 333 questions and answers | accurate and verified with rationales | updated 2024 | graded A+ | guaranteed pass

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  • August 6, 2024
  • 39
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • tn exam prep quiz 333 questions and answers accu

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  • Tennessee Real Estate Prep
  • Tennessee Real Estate Prep

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TN Exam Prep Quiz
Circle the letter of the Answer that corresponds to the displayed Question.
1. A financial practice of reducing the value of dollars received in the future by an amount that reflects the interest that would have been earned
if the dollars had been received today.
A. broker's opinion of value
B. executory contract
C. discounting
D. tax deed


2. The rate at which inflows from income property investment must be discounted in order for the total inflows over time to equal the initial outlay,
expressed as a percent; may include projected proceeds from the future sale of the property as an inflow.
A. limited agency / special agency
B. Duties owed to ALL parties
C. internal rate of return
D. unequal services


3. A forced sale of mortgaged property without a formal foreclosure suit or court proceeding. Authorized through a "power of sale" clause in a
mortgage or trust deed document. There is no right of redemption / redemption period option.
A. non-judiical foreclosure
B. leverage
C. liquidity
D. Regulation Z


4. A trust in which a truster conveys a fee estate to a trustee and names himself or herself as beneficiary. The beneficiary in turn controls the
property and the actions of the trustee.
A. land trust
B. obsolescence
C. certificate of title
D. colllusion


5. A legal contract that establishes and controls the dynamics of the agency relationship between principal and agent. The principal to the listing
may be buyer, seller, landlord, or tenant.
A. title insurance
B. listing
C. mutual consent
D. monument


6. A legal document wherein a mortgagor pledges ownership interests in a property to a lender, or mortgagee, as collateral against performance
of the mortgage debt obligation.
A. mortgage
B. scarcity
C. community property
D. Real Estate License Renewal


7. A loan arrangement where the borrower pays extra interesting advance for the future benefit of a lower interest rate over the loan term.
A. tenancy in severalty
B. non-conforming use
C. documentary stamp
D. buydown


8. A listing agreement which pays the listing broker a commission if anyone other than the property owner procures a customer.
A. real estate
B. exclusive agency
C. mortgage
D. non-prorated expense

,9. Obey all lawful instructions of the client; Be loyal to the interests of the client; Scheduling of all property showings; Receiving all offers and
counter offers and forwarding promptly to the client; Answering any questions ; Advising the client as to wh
A. township
B. Duty owed to licensee's client
C. property management / managers
D. statute of limitations
10. Must be confirmed in writing with an unrepresented buyer prior to the preparation of an offer to purchase.
A. Agency Status
B. Non-agency
C. lis pendens
D. value


11. The principal regulator of the money supply as well as the American banking system.
A. limited/advisory agency
B. percentage lease
C. assumption
D. Federal Reserve System


12. An organization of brokers who agree to cooperate in marketing the pooled listings of all members.
A. = 40 acres
B. multiple listing service (MLS)
C. Property Condition Disclosure Form
D. bundle of rights


13. A measure of the degree of residential land use within a given area for purposes of residential zoning and land use control.
A. lis pendens
B. CERCLA Superfund (1980) and SARA Superfund amendment (1986)
C. density
D. present value


14. A document expressing the opinion of a title officer or attorney that a property seller is in fact the owner of a good title based on a review of
title records.
A. Federal Reserve System
B. court appointed guardian
C. certificate of title
D. transfer government property


15. TREC - Any party, other than a client in a transaction, for whom or to whom a licensee provides services.
A. Chapter 1260
B. riparian rights
C. customer
D. hypothecation


16. Deed in trust
A. for land trust
B. debt coverage ratio
C. curtesy
D. CERCLA Superfund (1980) and SARA Superfund amendment (1986)


17. A property containing an easement that must "serve" the easement use belonging to a dominant tenement.
A. Federal Home Loan Mortgage Corporation (Freddie Mac)
B. servient tenement
C. origination fee
D. mechanic's lien


18. Acts addressing the disposal of solid and toxic wastes and measures for managing waste. In addition, the Superfund act provided money for
hazardous waste disposal and the authority to charge cleanup costs to responsible parties.
A. rectangular survey system / government survey system
B. condominium estate

, C. proration
D. CERCLA Superfund (1980) and SARA Superfund amendment (1986)
19. A finical analysis to identify the discounted value of the cash flow of an investment over a given number o years.
A. credit
B. prior appropriation
C. joint tenancy
D. discounted cash flow analysis


20. A land use that conflicts with current zoning but is authorized for certain reasons, including undue hardship to comply and minimal negative
impact to leave it alone.
A. variance
B. leasehold estate
C. co-brokerage
D. option


21. Successive property owners of record dating back to the original grant of title from the state to a private party.
A. exclusive agency
B. chain of title
C. debit
D. enforceability


22. Limiting Services
A. business brokerage
B. Unbundling services
C. demand
D. note


23. Investment by a depository institution on behalf of depositors.
A. Warrant of encumbrances
B. intermediation
C. riparian rights
D. chain of title


24. An agent's design for procuring a customer for a client, including selling and promotional activities.
A. courts case law
B. marketing plan
C. qualification
D. predatory price cutting and certain labor strikes, picketing and boycotts


25. Financing that uses mortgaged real property as security for borrowed funds
A. bilateral contract
B. discounting
C. mortgage financing
D. property


26. A tax stamp affixed to a property document or record as evidence that the owner has paid taxes related to the financing or transfer of real
property.
A. liability
B. facilitator / transaction broker
C. documentary stamp
D. discounting


27. A condition of title to a property where there are no claims, liens, or encumbrances clouding title or impeding the property's transferability.
A. eminent domain
B. Unbundling services
C. Section 62, Chapter 13
D. marketable title

, 28. Tax deed
A. allocation of markets
B. Warrant of seisin
C. proprietary lease
D. property sold at a tax sale
29. An item of tangible or intangible value, or one's promise to do or not do some act which is used as an inducement to another party to enter
into a contract.
A. chain of title
B. consideration
C. syndication
D. enforceability


30. A registered marker denoting an official elevation above sea level; used by surveyors to identify other elevations in the area.
A. benchmark
B. section
C. escrow
D. encroachment


31. 1. One of a class of liens that by law have a higher priority than an junior lien; all are tax liens. 2. A junior lien whose priority is higher than
that of another lien.
A. landlocked
B. superior lien
C. cooperative estate
D. 1973


32. A lien against property to secure a tax levy for a specific public improvement, such as a new road or sewer. Only properties benefitting from
the improvement are taxed and liened.
A. private grant
B. interest
C. discounting
D. special assessment lien


33. A mortgage loan having an interest rate that can be periodically raised or lowered in accordance with the movement of a financial index.
A. sublease
B. facilitator
C. concurrency
D. adjustable rate mortgage


34. A public notice in a foreclosure proceeding that the mortgaged property may soon have a judgment issued against it. Enables other investors
to join in the proceeding if they wish to collect their debts.
A. tier
B. plottage
C. "discrimination in housing
D. lis pendens


35. An unlawful practice of mixing escrow funds with the agency's operating funds.
A. tier
B. commingling
C. replacement cost
D. involuntary alienation


36. Do-not-call registry; 90 days allow for inquiry contacts - persons who contact you (calls on properties, visitors to open houses); Violations
range from $500 - $16,000 penalties; Can-spam is for commercial electronic marking. (Fax, emails, text messaging)
A. home equity loan
B. debt coverage ratio
C. State vs. Federal Laws
D. building code


37. Fulfillment of the terms of a contract.

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