Trec purpose Study guides, Class notes & Summaries
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real estate TN exam latest update with 100% correct answers
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What is the name of the Tennessee real estate regulatory body? 
a) Division of the Tennessee Real Estate 
B) Tennessee Real Estate Commission 
C) Board of Real Estate Regulators 
D) Tennessee Real Estate Board 
B 
 
 
 
How many members are on the Tennessee Real Estate Commission? 
A) 10 
B) 9 
C) 5 
D) 15 
B 
 
 
 
How many years may they serve? 
a) 3 years 
b) 5 years 
c) 6 years 
d) 4 years 
b 
 
 
 
What is the purpose and mission of TREC? 
a) to license and regulate real estate brokers and ...
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Champions School: Law of Contracts exam 2024 with 100% correct answers
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unlawful practice of law correct answersWhen license holders 
add provisions to contracts that go beyond factual business details. 
 
Texas Real Estate Commission correct answersTexas Real Estate Commission (TREC) was created by the Legislature in 1949. It is a 
nine-member commission whose primary purpose is to carry out the provisions of the License Act. Commission members are appointed by the governor and approved by the Senate. Each serves for a six-year term, except the chairman of the Comm...
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TN Real Estate State Test exam latest update with 100% correct answers.docx
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What Tennessee law covers landlord-tenant relations? 
Tennessee has the Uniform Landlord and Tenant Act for residential rentals. This law is designed to simplify, clarify, modernize, and revise the laws governing the rental of dwelling units and the rights and obligations of both landlords and tenants and to encourage them to maintain and improve the quality of housing. In addition, the law ensures that the right to the receipt of rent is inseparable from the duty to maintain the premises. Anyon...
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Champions Real Estate - Principles 1 Exam Questions and Answers Best rated A+ Guaranteed Success Latest Update
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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...
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Tennessee State Practice Exam| 190 Questions | With Complete Solutions
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What year did the state enact the Tennessee real estate Broker License Act? correct answer: 1973 
 
What is the purpose of the Tennessee real estate broker license Act? correct answer: to create rules for real estate professionals to protect the public against harmful actions by licenses 
 
What does TREC stand for? correct answer: Tennessee real estate commission aka the commission 
 
What does the TREC (the commission) do? correct answer: -Administer and enforce laws regarding licensed rea...
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TREC EXAM STUDY GUIDE
- Other • 3 pages • 2023
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TREC Purpose - Answer- To protect general public in dealing with licensee 
 
TREC composition - Answer- 9 members appointed by the governor, 6 must be licensed brokers, 3 must be members who represent the public, all must be voters, public members may not be associate with the commission, they serve six year staggered terms 
 
TREC does not - Answer- Mediate disputes among and between licensees, involve itself with compensation disputes among licensees, recommend certain licensees to the public ...
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State Portion Content Outline Review exam latest update with 100% correct answers.
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Purpose of the Tennessee Real Estate Commission aka. TREC 
Their mission is to protect the public. The commission may enact and enforce bylaws, rules and regulations that are reasonably necessary. 
 
 
 
Number of Members in TREC 
9 
 
 
 
Required Member Demographics 
The governor appoints 7 members who are brokers and/or affiliate brokers. 2 non-licensee members are selected to serve on the commission who must be from different divisions (i.e. east, west, or middle). Also must have at least 1 ...
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Champions School of Real Estate exam 2024
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The principal is also known as - correct answer client 
 
fiduciary relationship - correct answer a relationship founded on trust and confidence 
 
Agency Relationship - correct answer Exists when one person (the agent) acts for, or on 
behalf of another person (the principal). 
 
the principal - correct answer is the one who hires and gives authority to the agent 
 
Texas Real Estate License Act TRELA - correct answer Was passed 1939. The purpose is to protect the public against unscr...
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Champions School of Real Estate Law of Agency – Questions and Answers Already Passed
- Exam (elaborations) • 17 pages • 2024
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Champions School of Real Estate Law of 
Agency – Questions and Answers 
 
Already Passed 
 
The principal is also known as client 
 
fiduciary relationship a relationship founded on trust and confidence 
 
Agency Relationship Exists when one person (the agent) acts for, or on 
behalf of another person (the principal). 
 
the principal is the one who hires and gives authority to the agent 
 
Texas Real Estate License Act TRELA Was passed 1939. The purpose is to protect the 
public against unscr...
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Law of Agency - Champions School of Real Estate Latest Update Graded A+
- Exam (elaborations) • 16 pages • 2024
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Law of Agency - Champions School of Real Estate Latest Update Graded A+ The principal is also known as client 
fiduciary relationship a relationship founded on trust and confidence 
Agency Relationship Exists when one person (the agent) acts for, or on behalf of another person (the principal). 
the principal is the one who hires and gives authority to the agent 
Texas Real Estate License Act TRELA Was passed 1939. The purpose is to protect the public against unscrupulous brokers and sales agents...
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