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Real Estate Salesperson Exam — National Portion

Recovery fund (TN): practice questions

Our Real Estate (National) bank has 4 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Tennessee

What is the most the Tennessee real estate education and recovery account will pay per transaction?

  1. $100,000
  2. $10,000
  3. $15,000
  4. $25,000
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C. $15,000 — Tenn. Code Ann. 62-13-208(d)(1).

Question 2 · Tennessee

Once the recovery account has paid this aggregate amount on behalf of one licensee, it is no longer liable for that licensee's acts. What is the amount?

  1. $100,000
  2. $45,000
  3. $20,000
  4. $30,000
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D. $30,000 — Tenn. Code Ann. 62-13-208(d)(2).

Question 3 · Tennessee

Who is barred from recovering from the Tennessee education and recovery account?

  1. A seller who sued in a county general sessions court
  2. Any claimant who is not a Tennessee resident
  3. A buyer who was represented by a facilitator
  4. A licensee who acted as an agent in the transaction
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D. A licensee who acted as an agent in the transaction — Tenn. Code Ann. 62-13-208(d)(3).

Question 4 · Tennessee

What minimum balance must the Commission maintain in the education and recovery account?

  1. $1,000,000
  2. $750,000
  3. $500,000
  4. $250,000
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C. $500,000 — Tenn. Code Ann. 62-13-208(a); Tenn. Comp. R. & Regs. 1260-01-.11(3)(a).

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