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TN Exam Prep Test 1 Verified and 100% Correct Q & A, Complete Document for Exam
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TN Exam Prep Test 1 Verified and 100% Correct Q & A, Complete Document for Exam
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TN Exam Prep TestEnter the letter for the matching Answer
1. Legislation aimed at preventing unfair A. Section 62, Chapter 13
trade practices and monopoly, including
collusion, price fixing, and allocation of B. planned unit development (PUD)
markets.
C. Advertising
2. A transfer of title to real property without
the consent or against the will of the D. hazard insurance
owner, for example, eminent domain,
foreclosure, and adverses possession. E. escrow
3. A lump sum payment on any loan which F. Building Owners and Managers
retires the remaining loan balance in full. Association
4. Most common type of agency G. prior appropriation
relationship. Agent is representing either
buyer or seller. H. co-brokerage
5. A brokerage practice where agents and
I. ethics
brokers outside of the listing broker's
agency assist as subagents in procuring J. market value
a customer in exchange for portions of
the commission. K. security
6. Insurance against loss or damage to real L. involuntary alienation
property improvements; required by most
mortgage lenders to protect the collateral. M. implied contract
7. A law which restricts the period during
N. balloon payment
which a damaged party may seek to
rescind or disaffirm a contract or take O. Single agency
other legal actions.
8. An unstated or unintentional agreement P. depreciation
that may be deemed to exist by
Q. unequal services
implication because of acts or statements
by any of the parties to the agreement. R. antitrust laws
Not enforceable.
9. A legal doctrine granting a state the S. statute of limitations
power to control and regulate the use of T. certificate of title
water resources within state boundaries.
Tennessee does not have this.
10. A document expressing the opinion of a
title officer or attorney that a property
seller is in fact the owner of a good title
based on a review of title records.
11. www.boma.org
12.
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