Trec purpose Study guides, Class notes & Summaries

Law of Contracts - CHAMPIONS School of Real Estate THE PURPOSE AND FOCUS OF THE LICENSE ACT, AND OF TREC, IS TO PROTECT THE __________________. PUBLIC TREC ESTABLISHED THE _____________________________________ TO WRITE THE RESIDENTIAL CONTRACT FORMS THAT ARE THEN PROMULGATED BY TREC. BROKER LAWYER COMMITTEE ___________________________ MEANS PUBLISHED, OR MADE OF PUBLIC RECORD, AND THESE FORMS ARE THEN MANDATORY FOR AGENTS TO USE, WITH JUST A FEW EXCEPTIONS. PROMULGATED FAILURE...

TREC has the authority under TRELA to suspend or even revoke a broker's license if: They conduct the unlawful practice of law ESAC stands for: Education Standards Advisory Committee What refers to a location from an economic rather than a geographic standpoint? Situs. Which amendment guarantees that a citizen will not be deprived of property without due process of law? 5th Amendment. The CFPB is the: Consumer Financial Protection Bureau A professional organization or association is usual...

Texas Law of Contracts Practice Questions with solutions 2024 The purpose of the TRELA is to... protect the public protect real estate brokers from unscrupulous salespeople keep the cost of real estate services under control protect real estate license holders protect the public The DPTA is a consumer protection law which protects the public from false or misleading acts deceptive acts unconscionable acts all of these all of these Which action might leave...

Law of Contracts - CHAMPIONS TEST|Latest Update Graded A+ The TREC residential contract forms are: Drafted by the Broker Lawyer Committee Wrongful or criminal deception intended to result in financial or personal gain is called: fraud Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. goods If a seller will continue to occupy the property for one month after the closing, the buyer and seller should: Enter into a Seller's Temporary Residenti...

Champions School of Real Estate: Law of Contracts|208 Questions & Answers 100% Correct!.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 ...

real estate Tennessee State Exam Questions And Answers, Over 200 Questions And Answers, Complete Solution 2023 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 ...

SAE Residential Inspection (Champions TX Key Terms)2023/2024SAE Residential Inspection (Champions TX Key Terms)2023/2024SAE Residential Inspection (Champions TX Key Terms)2023/2024 inspection - ANSWER-a process of looking at and examining accessible items, parts, systems, or their components and the reporting of any observed deficiencies on the TREC-mandated report form. A limited visual survey and evaluation of the basic operation of the systems and components of a building, using normal cont...

Brokerage Correct Answer 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 Correct Answer Generally responsible for the day to day operations of the property, maintenance, and tenant relations How are home inspectors licensed? Correct Answer Home inspectors are licensed in Texas by TREC. Real Estate Development Correct...

Texas Real Estate Commission correct answersTREC-created by the Legislature in 1949. 9 member commission whose primary purpose is to carry out the provision of the License Act Real Estate Recovery Trust Account correct answersadministered by TREC. the purpose of the account is to protect aggrieved individuals who suffer monetary loss due to illegal acts of license holders unlawful practice of law correct answerslicense holder is not qualified to add provisions to contracts that go beyond f...

Law of Contracts - CHAMPIONS TEST|Latest Update Graded A+ The TREC residential contract forms are: Drafted by the Broker Lawyer Committee Wrongful or criminal deception intended to result in financial or personal gain is called: fraud Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. goods If a seller will continue to occupy the property for one month after the closing, the buyer and seller should: Enter into a Seller's Temporary Residenti...