US Real Estate Tennessee Test 7

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Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Tennessee Professional (Real Estate, USA) USA — Tennessee State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Tennessee.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Tennessee · Education: Professional (Adult) · Part: Real Estate — Tennessee · Country: USA · Region: USA — Tennessee

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is a warranty deed?

A) lease

B) quitclaim

C) guarantees clear title

D) option

Question 2

Which agency licenses agents in Tennessee?

A) IRS

B) State Bar

C) Medical Board

D) Tennessee Real Estate Commission

Question 3

What is a listing agreement?

A) purchase offer

B) lease

C) deed

D) contract to sell a property

Question 4

What is earnest money?

A) buyer good-faith deposit

B) commission

C) fee

D) tax

Question 5

What is a fiduciary duty?

A) secrecy from client

B) loyalty, obedience, care to client

C) profit first

D) dual profit

Question 6

What is dual agency?

A) buyer only

B) two brokers

C) one broker representing both sides

D) no representation

Question 7

What is a quitclaim deed?

A) transfers whatever interest exists

B) lease

C) full warranty

D) loan

Question 8

What is the Fair Housing Act?

A) tax law

B) zoning code

C) bans housing discrimination

D) building code

Question 9

What classes are protected in housing?

A) race, color, religion, sex, handicap, family, national origin

B) income

C) age only

D) politics

Question 10

What is redlining?

A) surveying

B) appraising

C) illegal denial by neighborhood

D) mapping

Question 11

What is steering?

A) showing homes

B) advertising

C) guiding buyers by race (illegal)

D) negotiating

Question 12

What is a CMA?

A) comparative market analysis

B) survey

C) appraisal

D) inspection

Question 13

What is an appraisal?

A) listing

B) inspection

C) professional value opinion

D) offer

Question 14

What is title insurance?

A) protects against title defects

B) flood policy

C) life insurance

D) home warranty

Question 15

What are the three appraisal approaches?

A) sales comparison, cost, income

B) show, stage, sell

C) list, sell, close

D) offer, accept, record

Question 16

What is PITI?

A) a tax

B) a loan type

C) principal, interest, taxes, insurance

D) a deed

Question 17

What is LTV?

A) lease term value

B) loan-to-value ratio

C) land title verification

D) listing traffic volume

Question 18

What is PMI?

A) flood insurance

B) title insurance

C) property tax

D) insurance for low down payments

Question 19

What is escrow?

A) neutral third-party holding

B) down payment

C) tax

D) commission

Question 20

What is a deed?

A) lease

B) offer

C) ownership transfer document

D) loan paper

US Real Estate Tennessee Test 7

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