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Acsording to a purchase agreement, the buyer has the right to a final inspection. The cost of this inspection will be paid tom the eamest money deposit 2.tomaically. only it the inspection reveals misrepresentation. 1. only th the parties have agreed to it in writing. 0. under no cirtumstances. Afilith licnsees who are REQUIRED to complete continuing education MUST complete how many approved hours Fourhous. Sitten hours. Thity hours. D. One hundred twenty hours. Aerparit ha been filt against an affiliate broker. The afiiliate broker, employed as an independent contractor, failed to inp te pincipel broker inlomed of the actions under complaint. Which of the following statements regarding this itiation is TReve? Q. A The broiker cannot be held liable for falling to supervise an independent contractor. Q. The broker cannot be held liable for actions of which the affillate broker did not keep the broker informed. C. Onf the affiliste broker can be held liable for his actions. 0. Both the afillita broker and the principal broker may be disciplined for their individual conduct. When would a Tennessee real estate licensee need to acquire a commercial license? A. when leasing office space of 10,000 square feet or more B. When selling a residential building of more than four units C. once the licensee has sold five or more commercial properties 00. there is no special commercial real estate license in Tennessee Which of the following is REQUIRED of a licensee in retired status? A. Maintain errors and omissions insurance. B. Maintain afililiation with a principal broker. C. Pay the TREC renewal fee when due every two years. O D. Complete 16 hours of continuing education every two years. Which or the following is REQUIRED of a licensee in retired status? A. Maintain errors and omissions insurance. 8. Maintaln afililiation with a principal broker. OC. Pay the TREC renewal fee when due every two years. 0. Complete 16 hours of continuing education every two years. The Real Estate Commission may take action against which of the following people? O. An attorney acting in accordance with her legal practice. 8. Alicensee employed to sell real estate. OC. Real estate owners selling their own real property. Q0. An executor handling real estate transactions. Acouple ouns a mullifamily dwelling. They are excluded from the application of the Human Rights Act under Tennessee tarit the dwelling contains housing accommodations for NOT more than A. two lamilias living independently of each other. OB. nuotanilies Iving independently of each other, and if one of the housing accommodations is the owner's or omner's lamily's residence. six tamililes living independently of each other, and if one of the housing accommodations is the owner's or omer's lamily's residence. All listing agreements MUST A. be an exclusive right to sell. B. have a definite expiration date. C. stipulate that the property will be entered into the MLS. D. include a provision for commission. You are logged in as a In advertising there are certain state rules and guidelines that must be followed. Advertising that is regulated incluo ilgns, ndilo ads, television ads, and other materials but does NOT include Ayers. 8. websites. C. business cards. 0 0. email signatures. Alicensee is contacted by a buyer who wants her to write an offer on one of her listings for $40,000 under the asking price. The licensee should A. drat the offer and presentit to the seller according to the buyer's instructions. Q. provide the buyer with a CMA to justify the listing price. 0 C. tell the buyer lo get another broker to draft the offer. 0. Wel the buyer that drating the offer would be insulting to the seller. Anewspaper ad for listed real estate MUST include the A. name of the employing firm. B. name of the seller. C. price of the property. D. street address of the property. The Real Estate Commission does NOT have the power to O A. suspend or revoke real estate licenses. B. subpoena witnesses for its investigations. OC. regulate commission rates. D. review broker's escrow or trustee accounts

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