Tennessee Realtor State Practice Exam

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Prepare for the Tennessee Realtor State Exam with questions and explanations designed to help you succeed. Master the principles and regulations of real estate in Tennessee. Ace your exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Raymond wants to comply with Tennessee law, so he always retains records related to a transaction for at least ____.

One year
Two years
Three years
Five years

The correct answer is: Three years

In Tennessee, real estate licensees are legally required to maintain transaction records for a minimum of three years from the date of the transaction. This period is established to ensure that there is adequate documentation available should any disputes arise or if there are inquiries from regulatory authorities. Retaining records for this length of time allows for thorough oversight of business activities and serves to protect both the agents and their clients. It safeguards against potential liability and helps uphold the integrity of real estate transactions within the state. The other potential options for record retention do not align with Tennessee's regulatory requirements, making three years the correct and compliant choice for Raymond to follow.