Exam (elaborations)
Tennessee Law real estate Questions and Answers Fully Solved
- Course
- Institution
Tennessee Law real estate
[Show more]
Content preview
Tennessee Law real estateThe title of the Tennessee law is - answer Tennessee Broker license act of 1973
Adverse facts are defined under Tennessee law as - answer Conditions or occurrences generally recognized as having a negative impact on the value of real estate.
A person engaged under contract by or on behalf of a licensed broker participating in real estate activities as defined by Tennessee law is considered a? - answer Affiliate broker
Which of the following do not have to be licensed to perform any actions covered by Tennessee real estate law? - answer Owner of real estate and Attorney in fact operation
under a recorded power of attorney
Who is required to carry Errors and Omissions insurance in Tennessee? - answer All active licensees
Sally mistakenly let her E&O insurance lapse. She applied for her renewal license after completing her continuing education and sent in her renewal fee. Which of the following activities are permissible by TREC? – answer TREC will notify both Sally and her broker
of the lapsed insurance.
How many licensed members are there on the Tennessee Real Estate Commission? - answer7
Which of the following is not a power of TREC? - answer Turn agent over to proper court of this state for violations of this law.
The TREC, under the law administers the education and recovery account. In that law there are maximum fines set by the legislature. Which of the following best describes these maximum fines? - answer$30,000.00 per licensee total and $15,000.00 total per transaction.
In the events a licensee is found guilty of breaking the real estate law, the TREC? - answerMust either suspend, revoke or downgrade the licensee
What restrictions are set that allow the TREC to withhold payments from the education and recovery account when ordered to by the courts? - answerMay not pay if the payment would drop the account balanc below $500,000.00
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78998 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now