Tennessee State Exam Practice Questions With Complete Solutions

The terms of the _______ determine who receives the earnest money. correct answer: contract Woody wanted to work for the new broker in town, so he filed the paperwork necessary to affiliate with a new broker. What will happen to his three listings and two buyer clients? correct answer: They remain with Woody's original broker, unless the broker agrees to other arrangements in writing. Who's entitled to reimbursement from the Real Estate Education and Recovery Account? correct answer: A member of the public who's been granted a judgment against a licensee Ralph is a broker whose license was suspended when one of his affiliated brokers committed a violation. This is mostly likely because ______. correct answer: Ralph either knew about the violation or is guilty of failure to supervise What are the requirements for advertising real estate in Tennessee? correct answer: You must make it clear you are a real estate agent; Your managing broker's information must also be included; The firm's name and phone number must be placed in the ad (you can include yours as well); Everything must be honest and nothing can be misleading or deceptive. Two members of the Tennessee Real Estate Commission, Barb and Jeff, represent the public at large. Besides not being real