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TN Exam Prep Quiz Verified and 100% Correct Q & A, Complete Document for Exam
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TN Exam Prep Quiz Verified and 100% Correct Q & A, Complete Document for Exam
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TN Exam Prep QuizCircle the letter of the Answer that corresponds to the displayed Question.
1. 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. seller financing
B. special assessment lien
C. 1973
D. township
2. TREC - Party to a transaction with whom the broker has entered into a specific written agency
agreement to provide services.
A. judicial foreclosure
B. client
C. 5
D. 60 years old
3. The brokerage of a business enterprise in addition to any real property it may own or lease.
A. business brokerage
B. Building Owners and Managers Association
C. customer
D. buyer representation agreement
4. A lease clause providing for an increase in rent.
A. escalator clause
B. broker
C. freehold estate
D. conversion
5. 9
A. customer
B. hypothecation
C. commissioners appointed by the Governor
D. contribution
6. A map of one or more properties indicating each parcel's lot and block number, boundaries, and
dimensions.
A. Meridian
B. plat
C. subagency
D. exclusive agency
, 7. A contract for the purchase and sale of real property containing all terms and provision of the sale and
describing the responsibilities of the parties.
A. sale contract
B. allocation of markets
C. taxable income
D. client
8. Master deed
A. collateral
B. condominium developer
C. performance
D. vacancy
9. An item permanently attached to land so as to e defined as real property.
A. limited partnership
B. fixture
C. actual notice (see also constructive notice)
D. density
10. 1. An accounting entry on a closing statement indicating an amount a party has paid or is to receive.
2. Loan funds advanced to a borrower.
A. credit
B. physical deterioration
C. trade fixture
D. intestate
11. A sales agent who works for a broker but is not legally an employee. The employer exerts only limited
control over the contractor's actions, does not provide employee benefits, and does not withhold taxes
from the contractor's pay.
A. interest rate
B. conveyance
C. Chapter 1260
D. <p>independent contractor
12. A fiduciary relationship between an agent and a principal where respective rights and duties are
prescribed by laws of agency and by the agency agreement executed by two parties.
A. agency
B. validity
C. exclusion
D. Agency Status
13. A transfer by a tenant of portions of the rights and obligations of a lease to another party, the
sublessee. The original tenant remains primarily liable to the landlord for fulfilling lease obligations.
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