Tennessee Real Estate Exam Prep

TN Salesperson Practice Exam

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Tennessee Sample Practice Real Estate Exam Questions and Answers

Tennessee State Section

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Question 1

What is homestead protection?

A	Gradual subsidence of waters, leaving dry land.
B	Net cash remaining to investor after sale of investment property.
C	The status provided to a home owner's principal residence that protects the home against judgement up to a specified amount.
D	The estimated value that an asset will have at then end of it's useful life.

Question 2

Which of the following isn't part of a deed?

A	Habendum
B	acknowledgement
C	Premises
D	novation

Question 3

Which of the following is a landlord's option for a tenant not paying rent?

A	lock the tenant out of the apartment
B	shut off the power
C	shut off the gas
D	unlawful detainer action in court

Question 4

Which of the following is required for an applicant to receive a Real Estate License?

A	Must have a Bachelors degree
B	Must sit and pass the required exam
C	Must be 25 or older
D	Must have lived in the state for more than a year

Question 5

How soon can a broker receive a commission check after a closing in Tennessee?

A	When the Buyer moves in.
B	Once the offer sheet is signed.
C	After the transaction is completed and funded.
D	Once the seller agrees to the price.

Question 6

Which is not necessary for a valid contract?

A	legal object
B	due date
C	acceptance
D	offer

Question 7

Which of the following is not a state that participates in reciprocity?

A	Connecticut
B	Arkansas
C	New York
D	Georgia

Question 8

Which of the following would not put a sales person in jeopardy of losing their license in Tennessee?

A	Depositing his/her clients escrow money into a personal account
B	Convicted of a felony
C	Placing an ad claiming to be a broker when they are not.
D	Being authorized to accept and excessive commission.

Question 9

What term means "going to the state?"

A	Eminent Domain
B	escheat
C	Taxation
D	police power

Question 9 Explanation:

Escheat is if someone dies and there is no one to inherit or no will the property goes to the state.

Question 10

What tenancies does Tennessee allow?

A	Joint tenancy
B	Both
C	Tenancy by the entirety
D	Neither

Question 11

Standing trees would be considered

A	Personal Property
B	Chattels
C	Real property
D	Emblements

Question 12

How many hours of pre-licensing education is required?

A	80 hours
B	100 hours
C	120 hours
D	60 hours

Question 13

After getting the real estate license, how many hours of Continuing Education are you required to take?

A	60
B	100
C	80
D	120

Question 14

Does Tennessee allow Holographic wills?

A	Yes
B	No

Question 15

An easement by prescription may establish

A	who owes back taxes
B	homestead rights
C	use of property
D	a claim to title

Question 16

Does Tennessee have homestead laws?

A	Yes
B	No

Question 17

Does Tennessee allow reciprocity with other states?

A	No
B	Yes

Question 18

Is Tennessee a community property state?

A	No
B	Yes

Question 19

What is a holographic will?

A	a will and testament that has been entirely handwritten and signed by the testator.
B	a will that has been approved by each family member.
C	a will that displays in 3D
D	a standard boiler plate will.

Question 20

In what circumstances, if any, can a broker in Tennessee who is serving as an intermediary representing both parties collect compensation from both the buyer and the seller?

A	None; the broker may only collect compensation from one party to a transaction
B	In most circumstances, except when the buyer and seller are related
C	Only when both buyer and seller give informed consent to this arrangement
D	Only when both buyer and seller have legal representation

Question 21

Who is responsible for maintaining a habitable property and for complying with local housing and building codes?

A	Lessor
B	Lessee
C	Buyer
D	Agent

Question 22

Does Tennessee have dower laws?

A	Yes
B	No

Question 23

The license law is administered by:

A	Real Estate Commission of Tennessee
B	Tennessee Real Estate Board
C	Tennessee Department of Real Estate
D	Tennessee Real Estate Commission

Question 24

The Salesperson license fee costs how much?

A	$55
B	$50
C	$65
D	$60

Question 25

Mortgage "discount" points only apply if which of the following conditions are met?

A	The interest rate on the mortgage loan has been lowered by 2% for each point charged
B	The seller has agreed to pay 1% of the closing costs
C	The interest rate on the mortgage loan has been lowered by 1% for each point charged
D	The loan does not close and the buyer owes the lender for services rendered