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Champions Exam Prep:68 State Questions With Complete Solutions Graded (A+)
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Champions Exam Prep:68 State Questions WithComplete Solutions Graded (A+)
Quiz :TREC has received an application for a Texas Real Estate Sales License
from Mary.
Mary has completed all her educational requirements, and passed the state
exam. At this point TREC will begin the background check.
What is FALSE?
(a) TREC has no time limit for determining integrity
(b) TREC has 30 days to complete the background check
(c) TREC has 30 days to notify Mary of a decision to disapprove her application
(d) Mary has 10 days to appeal a denial of her application - √Answer :False:
TREC has 30 days to complete the background check.
, DEF: TREC has no limit on days to review your application or complete your
background check.
They have 30 days to notify you of their decision and you have 10 days to
appeal that decision.
Quiz :Marcos was a TX licensed Real Estate Sales agent for some time. He then
chose to become inactive and TREC has been holding his license in inactive
status. He now wishes to activate the license.
What will he have to do? - √Answer :Apply through a broker, pay *$50* and
take a *18-hour* continuing education course
Quiz :A license holder has defaulted on his student loans.
As a result of this TREC will? - √Answer :*Refuse to renew the license*, unless
and until, the loan payments are brought up to date.
Quiz :Does the IABS disclose agency or personal interest? - √Answer :Agency
Interest
Quiz :When a license holder markets his own property he should? -
√Answer :Inform the buyer that he is a license holder, and the owner of the
property.
DEF: Per TRELA you must always disclose self, spouse, parent or child is
involved in a real estate transaction.
The IABS discloses agency not personal interest. There is no TREC promulgated
form solely intended for this disclosure although paragraph 4 of the TREC
contracts are now used for this. Not mentioning your personal interest in a
transaction is illegal.
Quiz :A Texas broker may pay a commission to?
(a) A foreign broker who doesn't negotiate in Texas
(b) A licensed attorney in Texas
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