Cancellation of contract is without penalty if they follow the disclosure of
rescission rights. It must be refunded within ___ days after receipt of notice.
- ANS ✅30
True or False? Misleading advertising is unlawful? - ANS ✅True
When can the commission issue a cease and desist order? - ANS ✅If a
developer has not registered a timeshare program?
Prize or gift promotional offers are only okay under what two
circumstances? - ANS ✅Under sponsorship and with approval of firm with
whom licensee is affiliated. And in writing signed by licensee with disclosure of
all pertinent details.
What cannot be paid to any person who does not have a real estate license?
- ANS ✅Case rebates, cash gits and cash prizes.
If for any reason a guest has not received their gifts within ____, they may be
given the gift or cash equivalent. - ANS ✅72 hours
1
TN Timeshare
, TN
What are the powers of the real estate commission? - ANS ✅They can fine
licensees, suspend the license, refer you to a court of law, their investigator can
come by any time during business hours to see any of your records and they can
close a development.
The real estate commission forms the rules in accordance with the ____. -
ANS ✅Tennessee Code Annotated
What are the prerequisites for licensing? - ANS ✅Honest, 18 years of age,
resident of state, not criminal, not on probation.
True or false? An applicant who has passed the exam within the last 6
months is not necessarily qualified for a license. - ANS ✅True
What is the renewal fee for the license? - ANS ✅80
The original license fee is ____ Plus ___ for education and recovery fee? - ANS
✅100, 30
You must renew you license ____ days prior to expiration - ANS ✅60
You must make a minimum passing score of _____% on your exam. - ANS
✅70
2
TN Timeshare
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