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

TREC Home Inspector Exam Questions with Verified Solutions What is the max TREC will pay? $12,500 per transaction; $30k for each licensee Number of members on TREC? 9; 6 Brokers / 3 Public. The each serve staggered years. How many members are on the Texas Real Estate Inspector Committee? 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? 16, 8, 0 R...

TN Timeshare Exam Practice Test Questions with Verified Solutions What is the Tennessee Real Estate Commission? Judicial body of real estate industry in TN Following discriminatory practice, you should make a complaint with ____ days. 180 What is a timeshare estate? Ownership or leasehold estate in property devoted to a timeshare fee, tenants in common, time span ownership, interval ownership, and a time share lease. What is an acquisitions agent? Licensed and attempts directly to encourage a...

What is the max TREC will pay? - correct answer $12,500 per transaction; $30k for each licensee Number of members on TREC? - correct answer 9; 6 Brokers / 3 Public. The each serve staggered years. How many members are on the Texas Real Estate Inspector Committee? - correct 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? - correct answer 16, 8, 0 ...

Texas Real Estate Exam | State Portion Test Questions and Answers 100% Accurate Texas Real Estate Exam | State Portion Test Questions and Answers 100% Accurate Texas Real Estate Exam | State Portion Test Questions and Answers 100% Accurate Texas Real Estate Exam | State Portion Test Questions and Answers 100% Accurate How many members in TREC? - ANSWER - 9: 3 general public, 6 brokers Who appoints, confirms TREC members? - ANSWER - Governor appoints, senate approves How many members on the...

How does the Real Estate License Act require brokers to provide consumers with information for the purpose of filing complaints? a. The broker must display Consumer Protection Notice TREC No. CN 1-2 in each place of business. b. Agents can tell them orally. c. Brokers are not required to provide that information. d. Sales agents should put it on their website. - The broker must display Consumer Protection Notice TREC No. CN 1-2 in each place of business Agent Sam owes Agent Layla a referr...

What year was the Real Estate Commision for TN formed? 1951 Licenses, registers and regulates real estate brokers and affiliate brokers, real estate firms, rental location agents, time-share salespersons and developments, vacation clubs and vacation lodging services. Responsibilities of the TN Real Estate Commision Who enacts rules addressing professional conduct and standards of practice. Tennessee Real Estate Commision The mission is to protect the public through establ...

Texas Real Estate Exam-State Portion Questions and Answers Already Passed Who is responsible for the acts of a salesperson? The sponsoring broker Failure on the part of the agent to advise the purchaser of real property in writing that he should have the abstract covering the property examined by an attorney of his own selection, or that he should be furnished with a policy of title insurance shall: d. preclude payment of, or recovery of, any commission agreed to be paid on the sale An example...

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...

Seller's Disclosure of Property Condition - must be given to a buyer before he signs an offer to make that offer binding on the buyer -if the buyer does not have the disclosure before signing, he has 7 days to terminate his offer, after receiving the disclosure -disclosure required in most states, but not all (required in Texas) Texas Real Estate License Act (TRELA) - -passed by legislation to protect the public against unscrupulous brokers and salesmen -rules and regulations are constru...

Texas Promulgated Contracts-CHAMPIONS Exam . The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording B A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilateral (d) Void ...