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A COMPREHENSIVE PACKAGE DEAL FOR AFFILIATE BROKER EXAMS|ALL YOU NEED TO KNOW|100% PASS
A COMPREHENSIVE PACKAGE DEAL FOR AFFILIATE BROKER EXAMS|ALL YOU NEED TO KNOW|100% PASS
[Meer zien]A COMPREHENSIVE PACKAGE DEAL FOR AFFILIATE BROKER EXAMS|ALL YOU NEED TO KNOW|100% PASS
[Meer zien]The Tennessee Human Rights Commission (THRC) 
enforces fair housing laws in the state. 
 
 
 
Exemptions to Tennesse's Human Rights Act are: 
1. Rental of one housing unit when the building contains no more than two independent units, if the owner or a family member lives in one of the units. 2. Re...
Voorbeeld 4 van de 36 pagina's
In winkelwagenThe Tennessee Human Rights Commission (THRC) 
enforces fair housing laws in the state. 
 
 
 
Exemptions to Tennesse's Human Rights Act are: 
1. Rental of one housing unit when the building contains no more than two independent units, if the owner or a family member lives in one of the units. 2. Re...
acceleration 
a provision in a mortgage, lease or land contract, which gives the lender, lessor or vendor the option of declaring the entire balance due upon any default of the borrower, lessee or vendee 
 
 
 
acceptance 
the receipt of a deed or other thing with the intention of retaining it; agre...
Voorbeeld 2 van de 9 pagina's
In winkelwagenacceleration 
a provision in a mortgage, lease or land contract, which gives the lender, lessor or vendor the option of declaring the entire balance due upon any default of the borrower, lessee or vendee 
 
 
 
acceptance 
the receipt of a deed or other thing with the intention of retaining it; agre...
What is a broker 
individual who is licensed to buy, sell, exchange, and lease property for other people, in exchange for compensation. 
 
 
 
What is a an affiliate broker 
practices real estate under a contract with a broker. 
 
 
 
What is a brokerage agreement 
contract between a broker and a cl...
Voorbeeld 1 van de 3 pagina's
In winkelwagenWhat is a broker 
individual who is licensed to buy, sell, exchange, and lease property for other people, in exchange for compensation. 
 
 
 
What is a an affiliate broker 
practices real estate under a contract with a broker. 
 
 
 
What is a brokerage agreement 
contract between a broker and a cl...
AFFILIATE BROKER TN STATE PRACTICE EXAM WITH 100% CORRECT ANSWERS
Voorbeeld 3 van de 20 pagina's
In winkelwagenAFFILIATE BROKER TN STATE PRACTICE EXAM WITH 100% CORRECT ANSWERS
TN Real Estate Affiliate Broker exam with 100% correct answers.
Voorbeeld 3 van de 18 pagina's
In winkelwagenTN Real Estate Affiliate Broker exam with 100% correct answers.
The State Regulator of real estate licensees 
The Tennessee Real Estate Commission 
 
 
 
Enacts rules addressing professional conduct, conducts hearings concerning violations of the Act, imposes penalties, and administers a Real Estate Recovery Fund to protect the public 
The Tennessee Real Estate ...
Voorbeeld 2 van de 12 pagina's
In winkelwagenThe State Regulator of real estate licensees 
The Tennessee Real Estate Commission 
 
 
 
Enacts rules addressing professional conduct, conducts hearings concerning violations of the Act, imposes penalties, and administers a Real Estate Recovery Fund to protect the public 
The Tennessee Real Estate ...
Personal Property 
Also called Chattels 
Has mobitily! 
 
 
 
Life Estate that is willed and then sold, the buyer can live there... 
Until the seller, that sold the willed property, dies. 
 
 
 
Tenants in Common 
-unequal interest 
-no right of survivorship 
 
 
 
Joint Tenancy 
Everyone has an equ...
Voorbeeld 2 van de 6 pagina's
In winkelwagenPersonal Property 
Also called Chattels 
Has mobitily! 
 
 
 
Life Estate that is willed and then sold, the buyer can live there... 
Until the seller, that sold the willed property, dies. 
 
 
 
Tenants in Common 
-unequal interest 
-no right of survivorship 
 
 
 
Joint Tenancy 
Everyone has an equ...
How many hours are required for AF Broker exam 
90 
 
 
 
Another name for escrow account 
Trust account 
 
 
 
What responsibility does a broker have when a licensee wants to change brokerages? 
Immediately sign TREC's Transfer, Release and Change of Status Form to release the licensee. 
 
 
 
Why...
Voorbeeld 3 van de 18 pagina's
In winkelwagenHow many hours are required for AF Broker exam 
90 
 
 
 
Another name for escrow account 
Trust account 
 
 
 
What responsibility does a broker have when a licensee wants to change brokerages? 
Immediately sign TREC's Transfer, Release and Change of Status Form to release the licensee. 
 
 
 
Why...
Rectangular Survey 
The land description T3N, R4W Principal Meridian refers to what method of property description? 
 
 
 
B)Situs 
Two lots the same size are sold on a street the lot on the corner sells for $20,000 more than the lot in the middle of the street. Which of the following charateristics...
Voorbeeld 2 van de 8 pagina's
In winkelwagenRectangular Survey 
The land description T3N, R4W Principal Meridian refers to what method of property description? 
 
 
 
B)Situs 
Two lots the same size are sold on a street the lot on the corner sells for $20,000 more than the lot in the middle of the street. Which of the following charateristics...
Broker Numberson was in the habit of preparing documents for clients. He could be liable to a charge of practicing law without a license for preparing which of the following? 
A deed. 
 
 
 
An inactive licensee refers his brother as a buyer to an out-of-state broker. How much money can he receive f...
Voorbeeld 1 van de 4 pagina's
In winkelwagenBroker Numberson was in the habit of preparing documents for clients. He could be liable to a charge of practicing law without a license for preparing which of the following? 
A deed. 
 
 
 
An inactive licensee refers his brother as a buyer to an out-of-state broker. How much money can he receive f...
Affiliate broker Oscar discriminates, in violation of the Tennessee Human Rights Act, and also uses an earnest money check for personal use. Oscar's managing broker, Aidan, is unaware of these illegal activities. When the Commission finds out about Oscar's actions, what will be the impact on Aidan...
Voorbeeld 2 van de 12 pagina's
In winkelwagenAffiliate broker Oscar discriminates, in violation of the Tennessee Human Rights Act, and also uses an earnest money check for personal use. Oscar's managing broker, Aidan, is unaware of these illegal activities. When the Commission finds out about Oscar's actions, what will be the impact on Aidan...
An affiliate broker must pass the exams with a 
70% or higher 
 
 
 
Affiliate broker pre-licensing educational requirements: 
-High school diploma or a GED certificate 
-90 hours of pre-licensing coursework (60 hours of real estate principles/fundamentals, which must be completed before sitting for...
Voorbeeld 1 van de 3 pagina's
In winkelwagenAn affiliate broker must pass the exams with a 
70% or higher 
 
 
 
Affiliate broker pre-licensing educational requirements: 
-High school diploma or a GED certificate 
-90 hours of pre-licensing coursework (60 hours of real estate principles/fundamentals, which must be completed before sitting for...
1. Tim, a Tennessee licensee, is affiliated with principal broker Ashton. After a team meeting, Tim asked him "Why do we need to keep purchase documents and closing statements?" Ashton's response should be ______. 
"Tennessee law requires I keep records relating to any real estate transaction or...
Voorbeeld 3 van de 20 pagina's
In winkelwagen1. Tim, a Tennessee licensee, is affiliated with principal broker Ashton. After a team meeting, Tim asked him "Why do we need to keep purchase documents and closing statements?" Ashton's response should be ______. 
"Tennessee law requires I keep records relating to any real estate transaction or...
[CH.2] (National Math) Tennessee Affiliate Broker Pre-license Course exam with 100% correct ansJohn bought an odd-shaped lot that was 100 feet deep, but the front footage was 160 feet and the length of the back side of the lot was 80 feet. What is the square footage of his lot? 
12,000 SF 
 
 
 
Ter...
Voorbeeld 2 van de 11 pagina's
In winkelwagen[CH.2] (National Math) Tennessee Affiliate Broker Pre-license Course exam with 100% correct ansJohn bought an odd-shaped lot that was 100 feet deep, but the front footage was 160 feet and the length of the back side of the lot was 80 feet. What is the square footage of his lot? 
12,000 SF 
 
 
 
Ter...
Which of the following is legal advertising on a sign? 
"For rent by owner/agent, 555-1234," on a building owned, but not listed, by a broker. 
 
 
 
Affiliate broker Bird has been licensed for at least two years. He has just passed the state broker examination and would like to apply for a broker...
Voorbeeld 2 van de 12 pagina's
In winkelwagenWhich of the following is legal advertising on a sign? 
"For rent by owner/agent, 555-1234," on a building owned, but not listed, by a broker. 
 
 
 
Affiliate broker Bird has been licensed for at least two years. He has just passed the state broker examination and would like to apply for a broker...
the type of listing contract that a seller gives to one firm yet the seller retains the right to find a buyer him/herself and not pay a commission is a(an) 
Exclusive agency agreement 
 
 
 
a listing broker is usually what a ________ agent. 
a special agent 
 
 
 
the written agreement between the ...
Voorbeeld 2 van de 13 pagina's
In winkelwagenthe type of listing contract that a seller gives to one firm yet the seller retains the right to find a buyer him/herself and not pay a commission is a(an) 
Exclusive agency agreement 
 
 
 
a listing broker is usually what a ________ agent. 
a special agent 
 
 
 
the written agreement between the ...
A woman passed the affiliate broker examination and is eager to begin listing and selling homes. What can she do? 
Apply for a license on the forms provided by the TREC and wait to receive it. 
 
 
 
A broker has several branch offices. Which is true regarding the management? 
Each branch office mus...
Voorbeeld 3 van de 17 pagina's
In winkelwagenA woman passed the affiliate broker examination and is eager to begin listing and selling homes. What can she do? 
Apply for a license on the forms provided by the TREC and wait to receive it. 
 
 
 
A broker has several branch offices. Which is true regarding the management? 
Each branch office mus...
How long does a licensee changing affiliation have to complete required procedures with the Commission? 
10 Days 
 
 
 
From whom may an affiliate broker receive compensation? 
From the broker he or she is affiliated with 
 
 
 
When may a licensee who has changed affiliation begin to engage in real...
Voorbeeld 2 van de 10 pagina's
In winkelwagenHow long does a licensee changing affiliation have to complete required procedures with the Commission? 
10 Days 
 
 
 
From whom may an affiliate broker receive compensation? 
From the broker he or she is affiliated with 
 
 
 
When may a licensee who has changed affiliation begin to engage in real...
Definition of Brokerage 
The bringing together of parties interested in making a real estate transaction. 
 
 
 
What is Agency? 
The relationship between a principal and an agent. Usually a property owner and a real estate broker. 
 
 
 
What is a Single Agency? 
A broker who represents only one cl...
Voorbeeld 2 van de 6 pagina's
In winkelwagenDefinition of Brokerage 
The bringing together of parties interested in making a real estate transaction. 
 
 
 
What is Agency? 
The relationship between a principal and an agent. Usually a property owner and a real estate broker. 
 
 
 
What is a Single Agency? 
A broker who represents only one cl...
Which of the following is a violation of federal fair housing law? 
 
A) A landlord refuses to rent to anyone under the age of 30. 
B) A private homeowner advertises a private house share using the phrase: "No minorities." 
C) private homeowner lives in a duplex and won't rent the other half to a...
Voorbeeld 4 van de 54 pagina's
In winkelwagenWhich of the following is a violation of federal fair housing law? 
 
A) A landlord refuses to rent to anyone under the age of 30. 
B) A private homeowner advertises a private house share using the phrase: "No minorities." 
C) private homeowner lives in a duplex and won't rent the other half to a...
Broker 
Person or company licensed to sell buy exchange or lease real property for others and to charge a fee for those services 
 
 
 
Salesperson (affiliate broker) 
Employed by or associated with the broker to perform brokerage activities on behalf of the broker 
 
 
 
Appraisal 
Assessing a prop...
Voorbeeld 4 van de 65 pagina's
In winkelwagenBroker 
Person or company licensed to sell buy exchange or lease real property for others and to charge a fee for those services 
 
 
 
Salesperson (affiliate broker) 
Employed by or associated with the broker to perform brokerage activities on behalf of the broker 
 
 
 
Appraisal 
Assessing a prop...
Once an agency has been terminated, the obligation of confidentiality 
continues forever. 
 
 
 
If a buyer signs an exclusive buyer agency agreement with real estate agent A, then purchases a property directly from real estate agent B, which of the following is TRUE? 
It is likely that B did not as...
Voorbeeld 2 van de 8 pagina's
In winkelwagenOnce an agency has been terminated, the obligation of confidentiality 
continues forever. 
 
 
 
If a buyer signs an exclusive buyer agency agreement with real estate agent A, then purchases a property directly from real estate agent B, which of the following is TRUE? 
It is likely that B did not as...
Affiliate broker Oscar discriminates, in violation of the Tennessee Human Rights Act, and also uses an earnest money check for personal use. Oscar's managing broker, Aidan, is unaware of these illegal activities. When the Commission finds out about Oscar's actions, what will be the impact on Aidan...
Voorbeeld 2 van de 5 pagina's
In winkelwagenAffiliate broker Oscar discriminates, in violation of the Tennessee Human Rights Act, and also uses an earnest money check for personal use. Oscar's managing broker, Aidan, is unaware of these illegal activities. When the Commission finds out about Oscar's actions, what will be the impact on Aidan...
Tennessee Affiliate Broker License Exam Flashcards exam with 100% correct answersCapitalization 
 
The process of calculating the present worth of a property on the basis of its capacity to continue to produce an income stream 
 
 
 
 
Economic age 
 
Age of a building determined by its condition an...
Voorbeeld 4 van de 58 pagina's
In winkelwagenTennessee Affiliate Broker License Exam Flashcards exam with 100% correct answersCapitalization 
 
The process of calculating the present worth of a property on the basis of its capacity to continue to produce an income stream 
 
 
 
 
Economic age 
 
Age of a building determined by its condition an...
Seller's Agent 
Works only on behalf of the seller to promote their interests 
 
 
 
Buyer's Agent 
Works only on behalf of the buyer to promote their interests 
 
 
 
Exclusive Listing 
A listing agreement that entitles the broker to a commission if any including the seller finds a buyer for the ...
Voorbeeld 2 van de 6 pagina's
In winkelwagenSeller's Agent 
Works only on behalf of the seller to promote their interests 
 
 
 
Buyer's Agent 
Works only on behalf of the buyer to promote their interests 
 
 
 
Exclusive Listing 
A listing agreement that entitles the broker to a commission if any including the seller finds a buyer for the ...
The 4 unities of possession, interest, time & title are associated with? 
Joint tenancy 
 
 
 
Two friends purchased property with a deed that transferred the property without further explanation. They took title as which of the following? 
Tenants in common 
 
 
 
3 people are joint tenants with ri...
Voorbeeld 1 van de 2 pagina's
In winkelwagenThe 4 unities of possession, interest, time & title are associated with? 
Joint tenancy 
 
 
 
Two friends purchased property with a deed that transferred the property without further explanation. They took title as which of the following? 
Tenants in common 
 
 
 
3 people are joint tenants with ri...
TN RE laws and regulations are primarily contained in: 
1. The TN RE Broker Act of 1973 
2. Rules of the TN RE CommissionUni 
 
 
 
Other laws relevant to RE licensees include: 
Uniform Landland and Tenant Act 
Horizontal Propert Act 
Notice of Completion Statute 
TN Lead-based Paint Certification A...
Voorbeeld 3 van de 26 pagina's
In winkelwagenTN RE laws and regulations are primarily contained in: 
1. The TN RE Broker Act of 1973 
2. Rules of the TN RE CommissionUni 
 
 
 
Other laws relevant to RE licensees include: 
Uniform Landland and Tenant Act 
Horizontal Propert Act 
Notice of Completion Statute 
TN Lead-based Paint Certification A...
In order for there to be an agency in Tennessee, law requires there be a 
 
A) verbal agreement between the client and the affiliate broker. 
B) written and signed bilateral agreement. 
C) signed confirmation of agency form. 
D) written and signed unilateral agreement. 
B) written and signed bilater...
Voorbeeld 2 van de 9 pagina's
In winkelwagenIn order for there to be an agency in Tennessee, law requires there be a 
 
A) verbal agreement between the client and the affiliate broker. 
B) written and signed bilateral agreement. 
C) signed confirmation of agency form. 
D) written and signed unilateral agreement. 
B) written and signed bilater...
A licensee negotiates the sale of a home intended for his fiancée and himself. He properly identifies himself as a licensee to the seller but neglects to disclose that he is getting married to the buyer. Do the actions of the licensee violate the license law? 
 
Yes, because a licensee cannot purch...
Voorbeeld 2 van de 15 pagina's
In winkelwagenA licensee negotiates the sale of a home intended for his fiancée and himself. He properly identifies himself as a licensee to the seller but neglects to disclose that he is getting married to the buyer. Do the actions of the licensee violate the license law? 
 
Yes, because a licensee cannot purch...
real estate 
Includes land plus improvements and appurtenances, which include rights, privileges, and fixtures 
 
1. Surface rights 
2. Air rights 
3. Subsurface rights, including mineral 
 
 
 
Personal Property 
Everything that is not real estate 
 
1. To transfer, must be in the Purchase and Sale...
Voorbeeld 1 van de 3 pagina's
In winkelwagenreal estate 
Includes land plus improvements and appurtenances, which include rights, privileges, and fixtures 
 
1. Surface rights 
2. Air rights 
3. Subsurface rights, including mineral 
 
 
 
Personal Property 
Everything that is not real estate 
 
1. To transfer, must be in the Purchase and Sale...
The land description T3N, R4W Principal Meridian refers to what method of property description? 
Rectangular Survey 
 
 
 
Two lots the same size are sold on a street the lot on the corner sells for $20,000 more than the lot in the middle of the street. Which of the following characteristics most li...
Voorbeeld 2 van de 11 pagina's
In winkelwagenThe land description T3N, R4W Principal Meridian refers to what method of property description? 
Rectangular Survey 
 
 
 
Two lots the same size are sold on a street the lot on the corner sells for $20,000 more than the lot in the middle of the street. Which of the following characteristics most li...
Deed 
a written and signed document that transfers legal title to real property from the seller to the buyer. Not required to be recorded. only to be delivered. 
 
 
 
Parties to a deed 
grantor (seller) grantee (buyer) 
 
 
 
Executed deed 
passing of the deed 
 
 
 
Who signs the deed? 
the granto...
Voorbeeld 1 van de 3 pagina's
In winkelwagenDeed 
a written and signed document that transfers legal title to real property from the seller to the buyer. Not required to be recorded. only to be delivered. 
 
 
 
Parties to a deed 
grantor (seller) grantee (buyer) 
 
 
 
Executed deed 
passing of the deed 
 
 
 
Who signs the deed? 
the granto...
What action should the seller take when an offer is rejected? 
 
Make a formal counter offer. 
Complete a contract rider. 
Complete an addendum. 
Note the rejection on the offer. 
Note the rejection on the offer. 
 
 
 
Which of the following requires a written contract? 
 
The purchase of a TV for ...
Voorbeeld 4 van de 62 pagina's
In winkelwagenWhat action should the seller take when an offer is rejected? 
 
Make a formal counter offer. 
Complete a contract rider. 
Complete an addendum. 
Note the rejection on the offer. 
Note the rejection on the offer. 
 
 
 
Which of the following requires a written contract? 
 
The purchase of a TV for ...
The State Regulator of real estate licensees 
The Tennessee Real Estate Commission 
 
 
 
Enacts rules addressing professional conduct, conducts hearings concerning violations of the Act, imposes penalties, and administers a Real Estate Recovery Fund to protect the public 
The Tennessee Real Estate ...
Voorbeeld 2 van de 12 pagina's
In winkelwagenThe State Regulator of real estate licensees 
The Tennessee Real Estate Commission 
 
 
 
Enacts rules addressing professional conduct, conducts hearings concerning violations of the Act, imposes penalties, and administers a Real Estate Recovery Fund to protect the public 
The Tennessee Real Estate ...
A lien is an example of a/an...? 
 
- Encumbrance 
- Entitlement 
- Estoppel 
- Escheatment 
Encumbrance 
 
 
 
If a property has both a tax lien and a mortgage lien against it, which lien has priority (generally speaking)? 
 
- Tax lien 
- Mortgage lien 
- They have equal priority 
- Whichever lien...
Voorbeeld 4 van de 58 pagina's
In winkelwagenA lien is an example of a/an...? 
 
- Encumbrance 
- Entitlement 
- Estoppel 
- Escheatment 
Encumbrance 
 
 
 
If a property has both a tax lien and a mortgage lien against it, which lien has priority (generally speaking)? 
 
- Tax lien 
- Mortgage lien 
- They have equal priority 
- Whichever lien...
What are littoral rights concerned with? 
Properties adjacent to non-moving bodies of water. 
 
 
 
Which of the following is NOT part of the bundle of rights? 
To steal property. 
 
 
 
Which of the following is a simple definition of real estate? 
Real estate is that it is air, water, land, and ev...
Voorbeeld 2 van de 11 pagina's
In winkelwagenWhat are littoral rights concerned with? 
Properties adjacent to non-moving bodies of water. 
 
 
 
Which of the following is NOT part of the bundle of rights? 
To steal property. 
 
 
 
Which of the following is a simple definition of real estate? 
Real estate is that it is air, water, land, and ev...
To become a designated agent, one must be 
 
A) 
appointed as such by the managing broker. 
B) 
a dual agent. 
C) 
at least 21 years old and licensed. 
D) 
a member of the National Association of REALTORS®. 
A 
 
 
 
An affiliate broker wishes to retire her license. Prior to that action, she must 
...
Voorbeeld 2 van de 8 pagina's
In winkelwagenTo become a designated agent, one must be 
 
A) 
appointed as such by the managing broker. 
B) 
a dual agent. 
C) 
at least 21 years old and licensed. 
D) 
a member of the National Association of REALTORS®. 
A 
 
 
 
An affiliate broker wishes to retire her license. Prior to that action, she must 
...
TN New Affiliate Broker unit 1 test exam with 100% correct answers
Voorbeeld 3 van de 18 pagina's
In winkelwagenTN New Affiliate Broker unit 1 test exam with 100% correct answers
Commissions are established by 
negotiation between the client/customer and broker. usually a % of the sales price. Must be incl in the listing agreement or buyer's representation agreement. Each broker's office will decide the exact amount. Diff rates for diff types of sales. 
 
 
 
A broker has ...
Voorbeeld 1 van de 2 pagina's
In winkelwagenCommissions are established by 
negotiation between the client/customer and broker. usually a % of the sales price. Must be incl in the listing agreement or buyer's representation agreement. Each broker's office will decide the exact amount. Diff rates for diff types of sales. 
 
 
 
A broker has ...
Class B Misdemeanor 
What an accused is charged with for practicing real estate without a license. 
 
unders tate law 
 
 
 
treble damages 
Being made to pay back up to three times the penalty. 
 
 
 
There are 21 violations listed in the law that can result in disciplinary action: 
aking any subst...
Voorbeeld 2 van de 6 pagina's
In winkelwagenClass B Misdemeanor 
What an accused is charged with for practicing real estate without a license. 
 
unders tate law 
 
 
 
treble damages 
Being made to pay back up to three times the penalty. 
 
 
 
There are 21 violations listed in the law that can result in disciplinary action: 
aking any subst...
The type of contract where a seller employs one real estate firm to find a buyer for the seller's property; yet the seller retains the right to find a buyer himself/herself and not pay a commission to the listing firm is a(an)? 
A. Exclusive right to sell agreement 
B. Exclusive agency agreement 
C...
Voorbeeld 3 van de 30 pagina's
In winkelwagenThe type of contract where a seller employs one real estate firm to find a buyer for the seller's property; yet the seller retains the right to find a buyer himself/herself and not pay a commission to the listing firm is a(an)? 
A. Exclusive right to sell agreement 
B. Exclusive agency agreement 
C...
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