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TN Exam Prep Matching Worksheet 4 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 Matching Worksheet 4 questions and answers | accurate and verified with rationales | updated 2024 | graded A+ | guaranteed pass
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  • Tennessee Real Estate Prep
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  • Tennessee Real Estate Prep

TN Exam Prep Matching Worksheet 4 questions and answers | accurate and verified with rationales | updated 2024 | graded A+ | guaranteed pass

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  • August 6, 2024
  • 29
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • tn exam prep matching worksheet 4

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  • Tennessee Real Estate Prep
  • Tennessee Real Estate Prep

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TN Exam Prep Matching
Write the code corresponding to the correct match in the space provided.

___ 1. A statement or act, or failure to make a statement or A1. intermediation
act, that misleads a party in a transaction. May be B1. underwriting
intentional or unintentional. May warrant legal
recourse or license revocation. C1. customer
___ 2. A transaction broker who assists principal parties in D1. real estate investment
completing a transaction without acting as a fiduciary trust (REIT)
agent of either party. E1. lien
___ 3. A legal contract that establishes and controls the F1. granting clause, or
dynamics of the agency relationship between principal premises clause for deed
and agent. The principal to the listing may be buyer, G1. buydown
seller, landlord, or tenant.
H1. commingling
___ 4. An accounting entry on a closing statement indicating
an amount a party must pay. I1. collateral
___ 5. A surviving joint tenant's right to receive all rights and J1. property management /
interests in the property enjoyed by another joint tenant managers
in the event of the latter's death. K1. servient tenement
___ 6. An underwriting equation that is used to determine how L1. private grant
much debt an individual can reasonably afford in view M1. eviction
of the party's or household's income.
N1. asset sale
___ 7. The value of a property as established by assessors for
the purpose of ad valorem taxation. O1. mechanic's lien
___ 8. 1. A process of investigating the financial capabilities P1. mortgage
and creditworthiness of a prospective borrower and Q1. point of beginning
granting credit to a qualified borrower. 2. The act of (POB)
insuring or financing a party, business venture, or R1. Warranty forever
investment.
S1. 1973
___ 9. A defeasible fee estate where title automatically reverts
to the grantor if usage conditions stated in the deed are T1. counteroffer
violated. U1. for land trust
___ 10. The business of procuring customers on behalf of V1. implied agency
clients for the purpose of completing a real estate W1. bundle of rights
transaction.
X1. eminent domain
___ 11. Most common type of agency relationship. Agent is
representing either buyer or seller. Y1. lien priority
___ 12. A freehold estate that is limited in duration to the life Z1. superior lien
of the owner or other named person. On the death of A2. redemption period /
this person, legal title passes to the grantor or other equity of redemption
named party. B2. township
___ 13. Tax deed C2. liquidated damages
___ 14. A right of an owner or tenant to use a property D2. mineral rights
without interference from others.
E2. mill
___ 15. Removal of a tenant from a property because of a
lease default. F2. goodwill
G2. periodic tenancy

,___ 16. "Established in 1992 for Tennessee to establish how H2. plottage
the licensee is working with the parties (buyers & I2. will
sellers) in the transaction
J2. deficiency judgement
___ 17. Water rights of a property that abuts a watercourse
(stream, river). Navigable - only extends to waters K2. estate
edge; non-navigable - unrestricted and owns the land L2. courts case law
beneath the water to the midpoint. M2. debt service
___ 18. Form of ownership reserved exclusively for husband N2. local laws
and wife.
O2. liability
___ 19. A fiduciary relationship which authorizes the agent to
conduct a broad range of activities for principal in a P2. foreclosure
particular business enterprise. May or may not include Q2. balloon payment
authority to enter into contracts. R2. Institute of Real Estate
___ 20. A financial contract where a seller retains legal title to Management
a property and gives the buyer equitable title and S2. binder
possession over a period of time. Seller finances all or
part of the purchase price. T2. interest rate
___ 21. Payment that occurs at the end of a payment term U2. escalator clause
rather than at the beginning. Examples of items paid V2. assessment
in arrears include taxes and interest. W2. gross income multiplier
___ 22. Granter will assist in clearing any title problems X2. commissioners
discovered later appointed by the
___ 23. Any manmade structure or item affixed to land. Governor
___ 24. An amount of money allocated from a property's Y2. cloud
income to cover future repair and maintenance costs. Z2. statute of limitations
___ 25. ----- must be in the business of real estate A3. real property
___ 26. A parcel of property lacking legal access to a public B3. present value
thoroughfare; requires a court-ordered easement by
necessity to relieve the condition. C3. surface rights
___ 27. A law requiring certain contracts to be in writing in D3. tax certificate
order to be enforceable. Examples are real property E3. 2
conveyances, listing agreements, and long term F3. net listing
leases.
G3. recording
___ 28. 1. A non-cash expense taken against the income of
investment property that allows the owner to recover H3. blind ad
the cost of the investment through tax savings. 2. A I3. land trust
loss of value to improved property. J3. easement
___ 29. A method of legally describing real property which K3. fixture
uses longitude and latitude lines to identify ranges,
tiers, and townships. L3. planned unit
development (PUD)
___ 30. Each commission serves ---- years
M3. Duty owed to licensee's
___ 31. A limitation on the use of a property imposed by deed, client
zoning, state statue, or public regulation.
N3. Warrant of quite
___ 32. An intangible business asset valued at the difference enjoyment
between the sale price and the value of all other assets
of the business. O3. exclusive agency
___ 33. One-percent of a loan amount, a lender's finance P3. unilateral contract
charge Q3. tax deed
R3. non-prorated expense

, ___ 34. A licensed employee or independent contractor hired S3. third party trustee as
by a broker to perform authorized activities on behalf collateral for a a loan
of the broker's client. T3. assessed value
___ 35. A life estate established by operation of law rather U3. 7
than by the actions or wishes of the property owners.
Examples are homestead law, dower, curtesy, and V3. tenancy in severalty
elective share. W3. earnest money escrow
___ 36. The period during which an improvement is expected X3. credit
to remain useful in its original use. Establishes the Y3. Designated Agency
improvement's annual depreciation amounts in
appraisal. Z3. functional obsolescence
___ 37. A multi-use development project requiring special A4. price fixing
zoning and involving deed restrictions. B4. assemblage
___ 38. Created in 1951, they licenses and register real estate C4. comparable
firms, brokers and affiliate brokers. The commission D4. sale contract
also enacts rules addressing professional conduct and
standards of practice. It is classified as a judicial body E4. ad valorem tax
of government. Their mission i F4. quiet title suit
___ 39. A loan arrangement where the borrower pays extra G4. deposit
interesting advance for the future benefit of a lower H4. subsurface rights
interest rate over the loan term.
I4. purchase money mortgage
___ 40. A loss of value to property because of decay or natural
wear and tear. Exacerbated by deferred maintenance, J4. actual notice (see also
or the failure to repair or maintain property on a constructive notice)
regular basis. K4. transfer government
___ 41. A form of real property ownership in which co- property
owners share all rights and interests equally and L4. Secondary mortgage
indivisibly; entails right of survivorship. Defining markets
characteristics are unity of time, equal ownership, M4. adverse facts
transfer of ownership, survivorship.
N4. scarcity
___ 42. A procedure for forcing sale of a secured property to
satisfy a lien holder's claim. O4. Uniform Residential
Landlord and Tenant Act
___ 43. A trust established during one's lifetime in which the (URLTA)
truster conveys legal title to property to a trustee and
names another party as beneficiary. P4. = 43,560 sq. ft.
___ 44. A major secondary mortgage market organization Q4. Contract
which buys conventional, FHA, and VA loans and R4. offer
sells mortgage backed securities. S4. sole proprietorship
___ 45. A body of state-level laws that stipulates how an T4. Unbundling services
estate will be passed on to heirs in the absence of a
valid will. U4. 5
___ 46. Deed in trust V4. steering
___ 47. An agent's design for procuring a customer for a W4. color of title
client, including selling and promotional activities. X4. acceleration
___ 48. The degree of unavailability of a product or service in Y4. conveyance
relation to demand for the product or service. A Z4. "discrimination in
critical element of value. housing
___ 49. An instrument used to convey real property to the A5. yield
trustee of a land trust. The truster is also the
beneficiary. B5. escheat

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