Trec state exam 3 - Study guides, Class notes & Summaries

A woman passed the affiliate broker examination and is eager to begin listing and selling homes. What can she do? Apply for a license on the forms provided by the TREC and wait to receive it. A broker has several branch offices. Which is true regarding the management? Each branch office must be under the supervision of a broker licensed at that address. To create an agency relationship, there must be a written bilateral agreement. A licensed affiliate broker wants to incl...

#2024 Texas Real Estate Exam (State) Exam with 100% Correct Answers Texas Real Estate Commission (TREC) *Ans* -created in 1949 -purpose: to administer the provisions of the License Act -authority to make rules and regulations -9 members (3 represent the general public, 6 are real estate brokers) -all appointed by the governor and approved by the Senate -serve 6 year terms -has the power to subpoena books, records, and witnesses -has the power to issue or revoke Real Estate Licenses Bro...

Texas Principles of Real Estate Express Exam Questions & Answers Updated Latest. What kind of professionals manage the legal aspects of a development project? Real Estate attorneys, title companies, surveyors, property insurance companies and government regulatory officials What types of professionals are involved in the transfer of rights and interest in Real Estate? Titles companies, Real Estate Brokers/ Sales Persons, Mortgage Brokers, Mortgage Bankers, Appraisers, Insurers Property ...

Promulgated Forms Final Exam Study 2023 Rated A+ 1. The effective date- who, what, and when? Between the buyer and the seller, The date on which the communication was made. The date of initialing and signing of the parties. The last party to initial/Sign fills in the day. 2. What is the legal proceedings brought by party to a contract against another party to compel action call forth in the agreement? Breach of a contract, one-party defaults, sues for specific performance, seek other relief - a...

Texas Real Estate Exam (State) (2023/2024) Already Passed Texas Real Estate Commission (TREC) -created in 1949 -purpose: to administer the provisions of the License Act -authority to make rules and regulations -9 members (3 represent the general public, 6 are real estate brokers) -all appointed by the governor and approved by the Senate -serve 6 year terms -has the power to subpoena books, records, and witnesses -has the power to issue or revoke Real Estate Licenses Broker Lawyer Committee -wri...

Texas Promulgated Contracts Champions Exam Questions With Answers | Latest Update (Graded 2023/2024). According to the TREC contract, accessories include: (a) Refrigerators (b) Stoves (c) Washing machines (d) Gas dryers A Exclusions to the sale must be removed (a) Prior to delivery of possession (b) At the convenience of the seller (c) When the offer becomes a binding contract (d) Two days prior to closing A The loan amount in Paragraph 3.B. of the sales contract includes: (a) The a...

Texas Real Estate State Licensing Exam || Complete Questions & Answers (100% Correct) Texas Real Estate State Licensing Exam || Complete Questions & Answers (100% Correct) When was TREC created? - ANSWER - 1947 TREC has the authority to.. - ANSWER - make rules and regulations. It's rules and laws govern license holders TREC has how many commission members? - ANSWER - 9 members, 3 represent the general public and 6 are real estate brokers TREC has the power to.. - ANSWER - subpoena ...

What is the max TREC will pay? - Answer $12,500 per transaction; $30k for each licensee Number of members on TREC? - Answer 9; 6 Brokers / 3 Public. The each serve staggered years. How many members are on the Texas Real Estate Inspector Committee? - Answer 9; all professional inspectors for 5yrs. Staggered 6yr terms. 3 members expire Feb 1st in odd-numbered years. How many hours req for renewal of each of the three types of licensees? - Answer 16, 8, 0 Real Estate Inspector m...

Texas Real Estate Exam; STATE portion questions and answers 100% guaranteed success. How many members in TREC? - correct answer. 9: 3 general public, 6 brokers Who appoints, confirms TREC members? - correct answer. Governor appoints, senate approves How many members on the Broker-Lawyer Committee? - correct answer. 13: 6 brokers, 6 lawyers, 1 public member Who appoints Broker-Lawyer committee members? - correct answer. Brokers/TREC, Lawyers/Pres of State Bar...

Final Exam RELE 1200 Questions and Answers 100% Pass 1. According to paragraph 18 of the One to Four Family Residential Contract, at closing, earnest money is first applied to cash down payment 2. Which addendum is commonly used in a transaction involving an 80% fixed-rate loan? Third Party Financing Addendum 3. In the Third Party Financing Addendum, what should be the cap on interest rates? A rate the buyer will pay that is available in the market 4. When may a potential purchaser's offer ...