According to trec rules - Study guides, Class notes & Summaries

Law of Agency – Champions Exam Questions and Answers 100% Solved Which of the following has the authority to suspend or revoke a Texas real estate license? TREC Which of the following is an element of a listing agreement? the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing f...

Champions Texas RE Study Questions and Answers Graded A TREC has the power to order witnesses to appear and/or produce records of documents for its investigations and hearings. This is called subpoena power. If a license holder fails to respond to a subpoena, what can TREC do? TREC can file suit with the Attorney General to enforce the subpoena. A license holder in violation of the TRELA has received a summons from TREC that a hearing will be held regarding the possible revocation or su...

The Five Canons; Fidelity - correct answer place no personal interest above the client's interest The Five Canons: Integrity - correct answer -has a special obligation to perform their responsibilities -must use caution to avoid misrepresentation by acts of commission or omission The Five Canons of Professional Ethics and Conduct - correct answer Fidelity Integrity Competence Consumer Information Form Discriminatory Practices *If a person believes the licensee violated TRELA (The Real E...

Texas Real Estate Commission - ANSWER-Created by the legislature in 1949 to carry out the provisions of TRELA Unauthorized Practice of Law - ANSWER-When license holders add provisions to contracts that go beyond the factual business details they are engaging in.. Deceptive Trade practices act - ANSWER- Real Estate Recovery Trust account - ANSWER-Administered by TREC, the purpose of the account is to protect aggrieved individuals who suffer a monetary loss due to illegal acts of license ...

Which of the following has the authority to suspend or revoke a Texas real estate license? - TREC Which of the following is an element of a listing agreement? - the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer representation agreement in o...

_____ is the form that licensees are most likely to work with the most frequently. - One to Four Family Residential Contract (Resale) "Psychological stigmas," which involve violent or catastrophic events on a property, fall under which category of disclosure? - Permitted disclosures "psychological stigmas," which involve violent or catastrophic events on a property, fall under which category of disclosure? - Permitted disclosutes "subdivision information" means which of the following...

brokerage - the aspect of the real estate business that pertains to overseeing the needs of the parties and completing a transaction; a brokerage transaction may or may not involve agency relationships The role of a property manager - Generally responsible for the day to day operations of the property, maintenance, and tenant relations How are home inspectors licensed? - Home inspectors are licensed in Texas by TREC. Real Estate Development - most often involves the acquisition of land for...

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 ...

PROMULGATED CONTRACTS PRACTICE TEST Exam Questions And Answers 100% Verified Agent Kara signed a buyer's representation agreement with her client that set her commission at 3%. The listing broker of the home her client chose offered 3.5% to the buyer's broker. What percentage of the sale price of the home will Kara's commission be? - answer3.5% What does Paragraph A of the Addendum for Back-Up Contract specify a back-up contract holder do when they execute the contract?* - answerdeposi...