Tennessee State Practice Exam| 190 Questions | With Complete Solutions

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 real estate activities for both residential and commercial transactions. -Have the power to renew, suspend, or revoke license. -Can set and increase licensing fees -Administering and enforcing state laws regarding: -Licensed residential and commercial real estate activities -Agency contracts and referral fees -Requirements for continuing education for licensed real estate brokers and salespersons as a condition of license renewal -The approval of qualified real estate schools How many members are in the commission? correct answer: 9 who appoints members of the commission? correct answer: the govener How many members of the commission must be licensed in real