Trec texas - Study guides, Class notes & Summaries

State Prep - Texas RE Exam Questions and v Answers 2024 TREC has the power to order witnesses to appear and/or produce records of documents for its investigations and hearings. This is called subpoena power. If a license holder fails to respond to a subpoena, what can TREC do? (a) TREC can assess an administrative penalty against the license holder for up to $4,000. (b) TREC can immediately revoke the license of the license holder without a hearing. (c) TREC can file suit with the Atto...

Drafts and revises contract forms for use in real estate transactions in the state of Texas. a. Promulgated forms b. Intentionally c. Puffing d. Deceptive Trade Practices Act e. Broker-Lawer Committee (Ans- E Forms published by TREC that are mandatory for license holders to use in real estate transactions int he state of Texas. a. Promulgated forms b. Intentionally c. Puffing d. Deceptive Trade Practices Act e. Broker-Lawer Committee (Ans- A Allows an aggrieved consumer t...

Describe at least two requirements under TRELA. (Ans- Act created by Texas Congress 1) All professionals are licensed 2) Use same policy, procedures, and forms. Providing correct documentations and forms during a transaction. TREC wanted to get things standardized. TREC was created in 1949 and that's when it began administrating TRELA. Real Estate Dealers license Act was enacted in 1939 for salesperson and brokers. TRELA is the present act which is active and administered until present day. ...

Champions Texas RE Study Questions and Answers Graded A TREC has the power to order witnesses to appear and/or produce records of documents for its investigations and hearings. This is called subpoena power. If a license holder fails to respond to a subpoena, what can TREC do? TREC can file suit with the Attorney General to enforce the subpoena. A license holder in violation of the TRELA has received a summons from TREC that a hearing will be held regarding the possible revocation or su...

In ______the Texas Real Estate Commission was established to administer and enforce the TRELA. a. 1939 b. 1929 c. 1949 d. 1993 - ANSWER c. 1949 TREC has only _______ promulgated lease forms. a. 1 b. 2 c. 3 d. 4 - ANSWER b. 2 In the TAR® Seller's Disclosure the seller should _______. a. prepare the disclosure when the listing is taken b. be the only one completing this form or any part of it c. none of the above d. both a and b - ANSWER d. both a and b Which of the fo...

The DTPA helps protect...? Agents Consumers Sellers Attorneys (Ans- Consumers In order to help prevent the buyer from withdrawing their offer, when should a seller provide a prospective buyer with the property disclosure form...? After the contract is signed with the prospective buyer Before the prospective buyer makes an offer After the prospective buyer's offer is accepted After the prospective buyer's home inspector conducts their inspection of the property (Ans- Before the...

Here are the four major types of agency acts: Listing Buying Leasing Property Management TREC's purpose is to regulate educational and licensing programs that maintain standards AND interpret legislation that affects the real estate profession — primarily the Texas Real Estate License Act (TRELA). Integrity Satisfy to the commission (TREC) that the candidate meets and exceeds their character standards (honesty, trustworthiness, and integrity). Competence Demonstrate competence by pas...

Law of Contracts - Champions School of Real Estate Latest Version Graded A+ TERLA - Texas Real Estate License Act - Created in 1939 TREC - Texas Real Estate Commission - Created in 1949 to administer/enforce TERLA Real Estate Center - Located at Texas A&M University - Created in 1970 TREC-Promulgated Forms/Leases (Residential): - One-to-Four Family Residential Contract (Resale) - New Home Contract (Completed Construction) - Residential Condo Contract (Resale) - Ne...

TEXAS REAL ESTATE PRINCIPLES 1 WITH 200 REAL EXAM QUESTIONS AND CORRECT ANSWERS/ TREC REAL ESTATE PRINCIPLES 1 LATEST EXAM 2024/25(NEW) How many members does the Texas Real Estate Commission (TREC) consist of? - ANSWER-9 The Texas Real Estate Commission does NOT have authority to: - ANSWERamend real estate laws Which entity is given the authority to pass zoning laws? - ANSWER-Zoning Boards The Texas Deceptive Trade Practices-Consumer Protection Act applies to what aspects of real es...

D) Texas Real Estate Commission (TREC) What is the name of the governing body for real estate in Texas? A. Texas Real Estate Constitution (TREC) B. Texas Real Estate Counselors (TREC) C. Texas Real Estate Council (TREC) D. Texas Real Estate Commission (TREC) D) they conduct the unlawful practice of Law TREC has the authority under TRELA to suspend or even revoke a broker's license if: A) they conduct the unauthorized practice of negotiation. B) they conduct the unlicensed practice of p...