Marcus has held a Tennessee affiliate broker license for three years and has completed 90 hours of pre-license education. He now wants to upgrade to a broker license. In addition to meeting the education requirement, what minimum experience requirement must Marcus satisfy under Tennessee law?
Correct Answer
C) Three years of active experience as a licensed affiliate broker
Under Tenn. Code Ann. § 62-13-303, a licensee must have at least three years of active experience as a licensed affiliate broker before being eligible to upgrade to a broker license. Marcus has met this requirement by holding his affiliate broker license for three years.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
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