Texas Real Estate Principles 1 questions with correct answers
Trec Commission Membership CORRECT ANSWER 9 Members (6 brokers, 3 public) appointed by governor. They serve 6 year staggered term. Texas Real Estate Broker Lawyer Committee CORRECT ANSWER 13 Members (6 brokers, 6 lawyers, 1 public) General Eligibility Requirements to be Licensed by TREC CORRECT ANSWER 18 years’ old a US citizen or lawfully admitted alien resident of the state A certificate is required separate of the license when CORRECT ANSWER buying, selling or leasing an easement pertaining to telecommunication, utility, railroad or pipeline services. Payments into Trust Account CORRECT ANSWER ensures the availability of a sufficient amount to pay on anticipated claims on the trust account A commission may suspend or revoke a license for CORRECT ANSWER acting negligently or incompetently, comingling money and soliciting or selling offers for the sale of real estate by means of a lottery An appeal can be made on a decision by the commission CORRECT ANSWER it must be taken to the district court in the county where the administrative hearing was held. When dealing with a client it is mandatory to give them CORRECT ANSWER A copy of the "Information about brokerage services" form The three Canons for professional ethics and conduct for Real Estate Licensees CORRECT ANSWER Fidelity, Integrity, Competency
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