Tennessee Realtor State Practice Exam

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Which of the following can be issued a Tennessee broker's license?

A natural person only
An entity only
A person or an entity
Only corporations

The correct answer is: A person or an entity

A Tennessee broker's license can be issued to both a natural person and an entity. This means that individuals who meet the state's licensing requirements, such as completing the necessary education and passing the state exam, can obtain a broker's license. Additionally, various business structures – such as corporations, partnerships, or limited liability companies (LLCs) – can also be licensed as brokers if they comply with state regulations. This flexibility allows for a variety of business models in the real estate industry, supporting not only individual entrepreneurs but also larger entities that may be conducting business in Tennessee. Therefore, recognizing that both individuals and entities can hold a broker's license is crucial for understanding the scope of real estate practice in the state.