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CE Shop Initial assessment Test Missed Questions (Tennessee and National with 100% correct ANSWERS
Brokers can disburse escrow funds when a transaction closes succesfully. 
Which of the following statements about brokers in Tennessee and the disbursement of escrow funds is true? 
 
 
 
24 hours 
Brokerage documents that the Tennessee Real Estate Commission requests must be produced within ______ of the request. 
 
 
 
Insurable title is one that may have known defects but is still insurable. Ashish should carefully review the title policy. 
Ashish is purchasing a bank-owned property. His real...
- Package deal
- Exam (elaborations)
- • 98 pages •
Brokers can disburse escrow funds when a transaction closes succesfully. 
Which of the following statements about brokers in Tennessee and the disbursement of escrow funds is true? 
 
 
 
24 hours 
Brokerage documents that the Tennessee Real Estate Commission requests must be produced within ______ of the request. 
 
 
 
Insurable title is one that may have known defects but is still insurable. Ashish should carefully review the title policy. 
Ashish is purchasing a bank-owned property. His real...
Affiliate Broker TN National Exam Practice (PSI) exam latest update with 100% correct answers.
1. The fewer properties on the market, the greater the scarcity. What's the effect on prices? 
Prices are pushed upward 
 
 
 
1. Frank owns a property on which there is walkway to the beach shared by his neighbors on either side. What is Frank's property? 
· Servient estate 
 
 
 
1. Simon is looking for a facility for a large grocery distribution operation. He found two options, one of which is offering him a triple net lease, and the other an absolute net lease. Why is his attorney arguing...
- Package deal
- Exam (elaborations)
- • 35 pages •
1. The fewer properties on the market, the greater the scarcity. What's the effect on prices? 
Prices are pushed upward 
 
 
 
1. Frank owns a property on which there is walkway to the beach shared by his neighbors on either side. What is Frank's property? 
· Servient estate 
 
 
 
1. Simon is looking for a facility for a large grocery distribution operation. He found two options, one of which is offering him a triple net lease, and the other an absolute net lease. Why is his attorney arguing...
State Portion Content Outline Review exam latest update with 100% correct answers.
Purpose of the Tennessee Real Estate Commission aka. TREC 
Their mission is to protect the public. The commission may enact and enforce bylaws, rules and regulations that are reasonably necessary. 
 
 
 
Number of Members in TREC 
9 
 
 
 
Required Member Demographics 
The governor appoints 7 members who are brokers and/or affiliate brokers. 2 non-licensee members are selected to serve on the commission who must be from different divisions (i.e. east, west, or middle). Also must have at least 1 ...
- Package deal
- Exam (elaborations)
- • 17 pages •
Purpose of the Tennessee Real Estate Commission aka. TREC 
Their mission is to protect the public. The commission may enact and enforce bylaws, rules and regulations that are reasonably necessary. 
 
 
 
Number of Members in TREC 
9 
 
 
 
Required Member Demographics 
The governor appoints 7 members who are brokers and/or affiliate brokers. 2 non-licensee members are selected to serve on the commission who must be from different divisions (i.e. east, west, or middle). Also must have at least 1 ...
Tennessee (state exam)Real Estate exam latest update with 100% correct answers
Enable the agency to pass specific regulations and rules to support the administration of the license law 
Regulatory Powers 
 
 
 
Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations 
Judicial Powers 
 
 
 
Enable it to establish the staff organization, records, and facilities to manage the licensing process and the licensees themselves 
Administrative Powers 
 
 
 
Protect the public 
Mission of the Tennessee Real ...
- Package deal
- Exam (elaborations)
- • 20 pages •
Enable the agency to pass specific regulations and rules to support the administration of the license law 
Regulatory Powers 
 
 
 
Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations 
Judicial Powers 
 
 
 
Enable it to establish the staff organization, records, and facilities to manage the licensing process and the licensees themselves 
Administrative Powers 
 
 
 
Protect the public 
Mission of the Tennessee Real ...
TN Real Estate Exam Practice Questions PROPERTY OWNERSHIP (Affiliate Broker - 7 Items; Broker 6 Items) exam latest update with 100% correct answers
REAL PROPERTY 
Interests, benefits, and rights that are automatically included in the ownership of real estate. (Real Property) Refer to both the physical property and the rights of ownership, while other states still make the distinction. 
 
 
 
PERSONAL PROPERTY 
Personalty. All the property that can be owned and that does not fit the definition of real property. Personal property is movable. Also known as Chattles, and include such tangibles as chairs, tables, clothing, money, bonds, bank acc...
- Package deal
- Exam (elaborations)
- • 12 pages •
REAL PROPERTY 
Interests, benefits, and rights that are automatically included in the ownership of real estate. (Real Property) Refer to both the physical property and the rights of ownership, while other states still make the distinction. 
 
 
 
PERSONAL PROPERTY 
Personalty. All the property that can be owned and that does not fit the definition of real property. Personal property is movable. Also known as Chattles, and include such tangibles as chairs, tables, clothing, money, bonds, bank acc...
Tennessee Portion to Study Part 2 exam latest update with 100% correct answers
Adverse fact 
Is a physical or environmental problem with the property, or anything that would directly negatively affect its value, which must be disclosed if known 
 
 
 
Fraudulent Act 
Is intentional deception in such a way as to take advantage or harm another person 
 
 
 
Negligence 
Is when licensees should have known that incorrect statements were being relied upon as material fact 
 
 
 
Dual contracts 
Is two contracts from the same buyer on the same property. One of the offers is used...
- Package deal
- Exam (elaborations)
- • 21 pages •
Adverse fact 
Is a physical or environmental problem with the property, or anything that would directly negatively affect its value, which must be disclosed if known 
 
 
 
Fraudulent Act 
Is intentional deception in such a way as to take advantage or harm another person 
 
 
 
Negligence 
Is when licensees should have known that incorrect statements were being relied upon as material fact 
 
 
 
Dual contracts 
Is two contracts from the same buyer on the same property. One of the offers is used...
Tennessee Life and Health Insurance LIfe Insurance Portion State Simulator exam latest update with 100% correct answers
Insuring Clause 
In a Life insurance contract, an insurance company's promise to pay stated benefits is called the 
 
 
 
C 
All of these are powers of the Commissioner except 
A. Hold hearings 
B. Enforce insurance laws 
C. Incarcerate a producer 
D. Issue subpoenas 
 
 
 
$25,000 individual whole life policy 
An employee with $25,000 group term life coverage was recently fired. This employee's group coverage may be converted to a 
 
 
 
B 
The amount of monthly disablility benefits payable u...
- Package deal
- Exam (elaborations)
- • 36 pages •
Insuring Clause 
In a Life insurance contract, an insurance company's promise to pay stated benefits is called the 
 
 
 
C 
All of these are powers of the Commissioner except 
A. Hold hearings 
B. Enforce insurance laws 
C. Incarcerate a producer 
D. Issue subpoenas 
 
 
 
$25,000 individual whole life policy 
An employee with $25,000 group term life coverage was recently fired. This employee's group coverage may be converted to a 
 
 
 
B 
The amount of monthly disablility benefits payable u...
Tennessee (state exam)Real Estate exam latest update with 100% correct answers
Regulatory Powers 
Enable the agency to pass specific regulations and rules to support the administration of the license law 
 
 
 
Judicial Powers 
Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations 
 
 
 
Administrative Powers 
Enable it to establish the staff organization, records, and facilities to manage the licensing process and the licensees themselves 
 
 
 
Mission of the Tennessee Real Estate Commission 
P...
- Package deal
- Exam (elaborations)
- • 21 pages •
Regulatory Powers 
Enable the agency to pass specific regulations and rules to support the administration of the license law 
 
 
 
Judicial Powers 
Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations 
 
 
 
Administrative Powers 
Enable it to establish the staff organization, records, and facilities to manage the licensing process and the licensees themselves 
 
 
 
Mission of the Tennessee Real Estate Commission 
P...
PSI TN National exam latest update with 100% correct answers
Real Property 
Land and everything permanently attached to it (Includes that someone can own it) 
 
 
 
Chattle 
an item of personal, movable property. 
 
 
 
fixture 
An item of personal property that has been converted to real property by being permanently affixed to the realty. 
 
 
 
Trade Fixture 
Fixtures and equipment that may be attached to a building during a tenant's occupancy, with the intention that they be removed when the tenant leaves 
 
 
 
Turning real property into personal pr...
- Package deal
- Exam (elaborations)
- • 37 pages •
Real Property 
Land and everything permanently attached to it (Includes that someone can own it) 
 
 
 
Chattle 
an item of personal, movable property. 
 
 
 
fixture 
An item of personal property that has been converted to real property by being permanently affixed to the realty. 
 
 
 
Trade Fixture 
Fixtures and equipment that may be attached to a building during a tenant's occupancy, with the intention that they be removed when the tenant leaves 
 
 
 
Turning real property into personal pr...
Tennessee National Portion REAL ESTATE EXAM QUESTIONS AND ANSWERS
A corporation is 
a legal entity that can buy and sell real estate as set out in its charter. 
 
 
 
Ownership in severalty is 
property owned by one individual or corporation. 
 
 
 
A house is owned by three joint tenants, and one of the owners, as permitted by state law, sells that interest to a new owner. The result is a 
tenancy in common between the new owner and the remaining joint tenants 
 
 
 
The owner of a condominium unit learns that a neighbor has failed to pay real estate taxes. I...
- Package deal
- Exam (elaborations)
- • 396 pages •
A corporation is 
a legal entity that can buy and sell real estate as set out in its charter. 
 
 
 
Ownership in severalty is 
property owned by one individual or corporation. 
 
 
 
A house is owned by three joint tenants, and one of the owners, as permitted by state law, sells that interest to a new owner. The result is a 
tenancy in common between the new owner and the remaining joint tenants 
 
 
 
The owner of a condominium unit learns that a neighbor has failed to pay real estate taxes. I...
CHEMISTRY SEMESTER B FINAL EXAM REVIEW EXAM QUESTIONS WITH 100% CORRECT ANSWERSS
NCCCO CORE PRACTICE QUIZ WITH VERIFIED SOLUTIONS ALREADY GRADED A+.
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