Tennessee Real Estate Affiliate Broker Exam — All Questions
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Tennessee real estate licensing is administered by the Tennessee Real Estate Commission (TREC) under:
- a.Tennessee Code Annotated Title 62, Chapter 13✓
- b.U.S. Department of Housing and Urban Development regulations
- c.the bylaws of the National Association of REALTORS
- d.local multiple listing service rules
TREC licenses and regulates real estate professionals in Tennessee under Title 62, Chapter 13 of the Tennessee Code Annotated. TREC handles licensing, education standards, and discipline; trade associations and the MLS do not license practitioners.
In Tennessee, the entry-level license held by a new licensee working under a broker is the:
- a.Salesperson
- b.Affiliate broker✓
- c.Associate broker
- d.Managing broker
Tennessee's entry-level license is the 'affiliate broker,' which must be held under a principal broker. With experience and additional education, an affiliate broker may qualify for a broker license. The affiliate broker is Tennessee's equivalent of a salesperson.
Tennessee requires all active real estate licensees to carry:
- a.Only a surety bond
- b.Errors and omissions (E&O) insurance✓
- c.Health insurance
- d.No insurance of any kind
A distinctive Tennessee requirement is that every active real estate licensee must carry errors and omissions (E&O) insurance. TREC offers a group policy option, but licensees may obtain equivalent independent coverage; without current E&O coverage a license cannot be active.