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TN timeshare study guide Questions with 100% Correct Answers | Updated & Verified | 2024
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TN timeshare study guide Questions with 100% Correct Answers | Updated & Verified | 2024
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TN timeshare study guide Questions with100% Correct Answers | Updated &
Verified | 2024
How long does the Real Estate director serve? ✔✔4 years
How long do Real Estate commissioners serve? ✔✔5 years
how long to Human rights commissioners serve? ✔✔6 years
How many members of Human rights comission? ✔✔15
How are human rights commissioners divided? ✔✔5,5,5 from each part of state
Who appoints commissioners? ✔✔governor
How are TN human rights commissioners paid? ✔✔For each day of service
What constitutes a premium tourist city? ✔✔population over 3000, 40% or more assessed value
must be hotels, restaurants etc.
, What is inter vivos trust? ✔✔A revocable trust created while the owner is still alive to hold property for
benefit of another. Also a living trust
What is a timeshare estate? ✔✔An estate in real property. Character of real estate is fee simple
What is an acquisitions agent? ✔✔Person who solicits people to attend a presentation
What is an exchange agent? ✔✔agent of exchange programs, RCI agent.
What is a purchaser? ✔✔Anyone who buys a timeshare
What is a sales agent? ✔✔Person who sells timeshare
What is a Time Share Resale Broker? ✔✔Person who sells 5 or more timeshare a year that are not
your own.
What is a unit? ✔✔real property improvements in a project which is divided into timeshare segments
What is a managing agent? ✔✔person with management duties and responsibilities and obligations of
a timeshare program?
What can be a timeshare unit? ✔✔Anything unless prohibited by project instruments or local
governing laws
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