TX Real Estate Exam - TREC & Licensing

C - Answer- Which of the following is true regarding the Texas Real Estate Commission? A) Commissioners serve staggered 3-year terms. B) Nine members are elected to 6-year terms. C) Three members must represent the public. D) Six members are appointed by the governor with the approval of the Senate. B - Answer- The TREC is empowered to A) enact laws to administer license law statutes. B) discipline violators of license laws. c) impose incarceration sentences for flagrant violators of license law. Education Standards Advisory Committee - Answer- establish and maintain education standards for fulfillment of the education-related aspects of Texas license laws. suspend or revoke - Answer- In fulfilling its regulatory role, TREC is empowered to impose fines as well as __________ or __________ licenses. district court - Answer- If a licensee's suspension is upheld following a hearing, the licensee may appeal to a _______________ where the hearing was held. Texas Real Estate Recovery Trust Fund - Answer- Licensees must disclose to consumers that there is a trust fund in Texas to satisfy judgments and reimburse parties damages from the actions of licensees. three - Answer- Sales agents who will be suspended must notify their broker in writing ______ days prior to the suspension. 4 - Answer- Complaints must be filed within ___ years broker - Answer- A person who performs brokerage activities for others for compensation Designated Broker - Answer- An active Texas broker designated by a licensed business entity to act on its behalf.