Tennessee Realtor State Practice Exam

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How often can real estate firms receive an escrow waiver?

  1. Every transaction

  2. Once every month

  3. Once each license renewal period

  4. Once per year

The correct answer is: Once each license renewal period

Real estate firms can receive an escrow waiver once each license renewal period. This guideline is important as it allows firms to handle certain transactions without the necessity of maintaining an escrow account for every transaction they conduct. By linking the waiver to the license renewal period, it establishes a clear framework for oversight and compliance, ensuring that firms still operate within regulatory standards while enjoying the flexibility offered by the waiver. Other options imply varying frequencies that do not align with established practices, hence reaffirming the idea that the renewal period provides a structured timeframe for such waivers.

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