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A comprehensive outline of the content covered in the tennessee real estate broker and salesperson examinations. It includes detailed information on various topics, such as property ownership, land use controls, financing, contracts, agency, property disclosures, property management, transfer of title, practice of real estate, real estate calculations, and state-specific requirements. The outline is organized into national and state portions, covering key areas of real estate knowledge and practice.
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Person(s) accompanying an examination candidate may not wait in the examination center, inside the building or on the building's property. This applies to guests of any nature, including drivers, children, friends, family, colleagues, or instructors. Once candidates have been seated and the examination begins, they may leave the examination room only to use the restroom, and only after obtaining permission from the proctor. Candidates will not receive extra time to complete the examination. You may be given a piece of scratch paper and a pencil. You will return the scratch paper and pencil during check-out. Additional protocols for remote online proctored exams, include but not limited to: Temporarily moving out of the camera's line of sight. Candidates are not allowed to have scratch paper. Adequate lighting for the proctor to see candidate’s activity. Internet service must be sufficient to administer the exam. Web camera must be placed for ideal viewing by the proctor. Candidate may not change computers during the exam. Candidate may not change spaces during the exam. Candidate must follow proctor instructions, which may include, but are not limited to: o Keeping hands on the desktop. o Keeping eyes on the computer screen. o Not fidgeting during the exam. o Keeping hands away from face. Please do your best to avoid covering your mouth for the whole duration of exam. Be aware that talking/whispering/mouthing is not allowed during exam. Breaks are NOT allowed during remote online proctored examinations. If you believe you cannot complete your examination without a break, please do not register for remote online proctored examinations. Also note that under no circumstances are you allowed to take a screenshot or photo of the exam or the exam results at any time during or after the session.
The examination will be administered via computer. You will be using a mouse and computer keyboard. TUTORIAL Before you start your examination, an introductory tutorial is provided on the computer screen. The time you spend on this tutorial, up to 15 minutes, DOES NOT count as part of your examination time. Sample questions are included following the tutorial so that you may practice answering questions and reviewing your answers. TEST QUESTION SCREEN One question appears on the screen at a time. During the examination, minutes remaining will be displayed at the top of the screen and updated as you record your answers. IMPORTANT: After you have entered your responses, you will later be able to return to any question(s) and change your response, provided the examination time has not run out or you have ended your examination. EXAMINATION REVIEW PSI, in cooperation with TREC, will be consistently evaluating the examinations being administered to ensure that the examinations accurately measure competency in the required knowledge areas. While taking the examination, examinees will have the opportunity to provide comments on any questions, by clicking on the comments button. Your comments regarding the questions and the examinations are welcomed. These comments will be analyzed by PSI examination development staff. While PSI does not respond to individuals regarding these comments, all substantive comments are reviewed. If a discrepancy is found during the comment review, PSI and the Commission may re-evaluate candidates’ results and adjust them accordingly. This is the only review of examination materials available to candidates.
In order to receive a passing score on each examination, you must correctly answer the score listed below.
# of Items Minimum Passing Score (Percent Correct Required) Affiliate Broker National (^) (80 points)^80 56 (70%) State (^) (40 points)^40 28 (70%) Broker National (^) (80 points)^75 60 (75%) State (^) (50 points)^50 38 (75%) Timeshare Salesperson State^35 25 (70%) Acquisition Agent State^35 25 (70%) Note: National broker exams include questions that are scored up to two points.
Your score will be displayed on screen at the end of the examination and a score report will be emailed to you. If you fail, the emailed score report will include the diagnostic report indicating your strengths and weaknesses by examination type. You may request a duplicate score report after your examination by emailing scorereport@psionline.com.
The following suggestions will help you prepare for your examination. ▪ Planned preparation increases your likelihood of passing.
▪ Start with a current copy of this Candidate Information Bulletin and use the examination content outline as the basis of your study. ▪ Read study materials that cover all the topics in the content outline. ▪ Take notes on what you study. Putting information in writing helps you commit it to memory and it is also an excellent business practice. Underline or highlight key ideas that will help with a later review. ▪ Discuss new terms or concepts as frequently as you can with colleagues. This will test your understanding and reinforce ideas. ▪ Your studies will be most effective if you study frequently, for periods of about 45 to 60 minutes. Concentration tends to wander when you study for longer periods of time. Now you can take the practice exam online at National Real Estate Salesperson Practice Examination National Real Estate Broker Practice Exam to prepare for your Tennessee Broker Examinations. Please note that practice exams are intended only to help testing candidates become familiar with the general types of questions that will appear on a licensing examination. They ARE NOT a substitute for proper education and study. Furthermore, scoring well on the practice exam does not guarantee a positive outcome on an actual licensing examination. Note: You may take the practice exams an unlimited number of times. However, you will need to pay each time.
The following is a list of possible study materials for the real estate examinations. The list is given to identify resources and does not constitute an endorsement by PSI or by TREC. Use the latest edition available. NATIONAL PORTION OF THE EXAMINATION ▪ Modern Real Estate Practice, 21st^ Edition, Galaty, Allaway, Kyle, and Williams, Dearborn Real Estate Education, www.dearborn.com, ISBN: 978 - 1 - 0788 - 1887 - 2 ▪ Mastering Real Estate Math, 9th Edition, 2022, Denise Evans www.dearborn.com ISBN: 9781078819008 ▪ The Language of Real Estate, 8th Edition, 2019, Reilly and Spodek, Dearborn Real Estate Education, www.dearborn.com ▪ Property Management, 11th edition, 2016, Kyle, Robert C., Baird, Floyd M. and Kyle, C. Donald, Chicago: Dearborn Real Estate Education www.dearborn.com ▪ Real Estate Law, 11th Edition, 2022, Elliot Klayman, Dearborn Real Estate Education www.dearborn.com ▪ Real Estate Fundamentals, 10th Edition, 2019, Gaddy, Hart, Spodek, Dearborn Real Estate Education,www.dearborn.com ▪ Real Estate Principles, 12th Edition, Charles Jacobus, OnCourse Publishing, N19W24075 Riverwood Drive, Suite 200, Waukesha, WI 53188, 855- 733 - 7239, www.oncoursepublishing.com ISBN 1285420985 ▪ Real Estate Principles, 12th Edition, 2021, Floyd and Allen, Dearborn Real Estate Education,www.dearborn.com ▪ Mastering Real Estate Principles, 8th Edition, 2022, Gerald Cortesi ▪ Real Estate Principles & Practices, 9th Edition, 2014, Arlyne Geschwender, OnCourse Publishing, N19W Riverwood Drive, Suite 200, Waukesha, WI 53188, 855- 733 - 7239, www.oncoursepublishing.com ISBN 0324784554 ▪ Principles of Real Estate Practice, 6th edition, 2019, ettling, Stephen and Cusic, David, Performance Programs Company STATE PORTION OF THE EXAMINATION ▪ Tennessee Real Estate Broker's Licensing Act of 1973 , T.C.A. 62- 13 - 312(B)1-21, 1973, Tennessee Legislature, https://www.lawserver.com/law/state/tennessee/tn- code/tennessee_code_title_62_chapter_ TIMESHARE SALESPERSON EXAMINATION ▪ Official Manual of the Real Estate Commission, Sections 62 - 13 and 66- 32 ▪ Rules of the Tennessee Real Estate Commission , Section 1260 - 1 ▪ Tennessee Human Rights Act, Section 4- 21 ▪ Modern Real Estate Practice, 18th Edition (pages 173- 187 & 256-257), Galaty, Allaway, and Kyle, Dearborn Real Estate Education, (800) 972 - 2220, www.dearborn.com
The affiliate broker and broker examinations are divided into two sections: national and state. Candidates who pass one section but fail the other need retake only the section they failed. The passing score for one section of an examination is valid for two (2) retakes of the failed section or six (6) months, whichever comes first. The timeshare salesperson and acquisition agent exams are one-part. Affiliate broker and broker examinations candidates who fail the first attempt at the examination may retake it as soon as they want (however you cannot schedule until the day after you took the examination). After the second attempt, an examination candidate must wait thirty (30) days between any subsequent failed exams to retake the examination. Note: These retake rules do not apply to the timeshare salesperson and acquisition agent exams. EXAMINATION SUMMARY TABLE Examination Portion # of Items Time Allowed Affiliate Broker National (^) (80 points)^80 160 minutes State 40 (40 points) 80 minutes Broker National (^) (80 points)^75 150 minutes State (^) (50 points)^50 90 minutes Time-share Salesperson State^35 90 minutes
b. VA guaranteed loans c. USDA/Rural Development loan programs
VI. Truth-in-Lending (1 Item) A. Definitions & General Information
The following questions are offered as examples of the types of questions you will be asked during the course of the National Real Estate Broker and Salesperson examinations. They are intended primarily to familiarize you with the style and format of questions you can expect to find in the examinations. The examples do NOT represent the full range of content or difficulty levels found in the actual examinations. SAMPLE QUESTIONS A. Which of the following interests in property is held by a person who is granted a lifetime use of a property that will be transferred to a third party upon the death of the lifetime user?
PSI National Real Estate Broker Examination Instruction IMPORTANT Test questions appear on the screen ONE AT A TIME. A question may have an associated graphic displayed on the screen, or it may direct the candidate to reference material, such as a chart or diagram. Each question may contain up to EIGHT options and ONLY ONE BEST option shall be selected to answer the question. Some options are appropriate but NOT the BEST ANSWER. Please select the option that best answers the question in the exam. A BEST ANSWER reflects the optimal solution or most complete resolution to the scenario presented in the question. Scenario: You are hosting an open house. Mr. and Mrs. Charles Martin come into the house. You greet them and show them the house. The Martins tell you the house is exactly what they are looking for and they are very interested in purchasing it. You then give them information showing the various types of financing available with down payment options and projected payments. Mr. Martin tells you they have been working with Mary Hempstead of XX Realty, a competing real estate company. Before leaving, you thank them for coming and give them your business card. A. The first thing on Monday morning, Mrs. Martin calls and indicates they have tried to reach Mary and cannot. They indicate they have a written buyer’s agent agreement with Mary’s broker. They are afraid someone else is going to buy the house. Which of the following should you do? Select the best answer.