Principles, Property, and Land Use Practice Question

Question

A license applicant is reviewing a practice scenario for the Tennessee Affiliate Broker Exam involving life estate and agency and property condition disclosure practice. What should the licensee understand? (Item 42)

Answer choices

1. A. The client’s preference eliminates the need to disclose known material facts.
2. B. Identify ownership measured by a life with future rights held by another party in a way that fits Tennessee exam practice.
3. C. The party who complains first automatically receives the remedy requested.
4. D. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.

Correct Answer

B. Identify ownership measured by a life with future rights held by another party in a way that fits Tennessee exam practice.

Explanation

The correct answer is B because life estate requires candidates to identify ownership measured by a life with future rights held by another party. The Tennessee reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.

Question details

• Difficulty: medium
• Domain: Principles, Property, and Land Use
• Objective: life estate

Practice more

Start Principles, Property, and Land Use practice

Back to Principles, Property, and Land Use