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Exam (elaborations)

Texas Question and answers 100% correct

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Texas Question and answers 100% correct TREC (Texas Real Estate Commission) - correct answer 6 broker members and 3 public members - created to administer the provisions of the license act - they promulgate contract forms for licensees TRELA (Texas Real Estate License Act) - correct answer P...

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  • July 20, 2024
  • 8
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • texas
  • texas question and answers 100 correct

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  • Real Estate Brokerage
  • Real Estate Brokerage

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LEWISSHAWN55

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Texas
Texas
2024/2025 TREC (Texas Real Estate Commission) - correct answer ✔6 broker members and 3 public members - created to administer the provisions of the license act - they promulgate contract forms for licensees
TRELA (Texas Real Estate License Act) - correct answer ✔Passed by legislation to protect the public
Broker Lawyer Committee - correct answer ✔6 attorneys appointed by the president of the State Bar, 6 brokers appointed by the TREC and 1 public member appointed by the Governor - they write the Texas contract forms
Real Estate Recovery Trust Account - correct answer ✔An account established to pay aggrieved person who suffer a monetary loss due to unscrupulous acts of licensees
SAE (Sales Agent Apprentice Education) - correct answer ✔a 90 core hour requirement that must be met during the first 2 years of licensing in order for a
licensee to be able to renew that license. In addition lice holders must complete the Legal I & II courses with their SAE education for a total of 98 hours to renew (effective January 1, 2016)
CE (Continuing Education) - correct answer ✔an 18 hour course taken once every two years and including 8 hours of legal update, required by all licensees with a total of 270 or more core hours (effective January 1, 2016)
Expired - correct answer ✔No longer licensed - a sales or broker license has
not been renewed on time
Inactive - correct answer ✔A license has been renewed but is being held by TREC - one cannot engage in the business while inactive

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