Tennessee License Law Enforcement Overview with Complete Solutions

Tennessee License Law Enforcement Overview with Complete Solutions TREC may impose a civil penalty on unlicensed persons of up to what amount per violation per day? A) $3,000. B) $1,000. C) $4,000. D) $2,000. B) $1,000. Regarding E&O coverage for the firm, A) the minimum coverage must be at least $1,000,000. B) the amount of coverage is determined by the number of affiliated licensees. C) E&O coverage is not required, but bonding is. D) E&O coverage is not required. D) E&O coverage is not required. Should a licensee's license be revoked by the court, TREC has the authority to reissue the license with a consenting vote of at LEAST A) a quorum. B) a majority of the commissioners voting in favor or reissuance. C) six. D) nine commissioners plus the vote of the executive director. C) six. Witnesses who fail to cooperate with a TREC hearing may be found guilty of A) obstruction of justice. B) contempt of court. C) fraud. D) commingling. B) contempt of court. The real estate licensees in Tennessee that TREC requires to be bonded are A) licensees that engage in property management. B) commercial licensees. C) residential licensees. D) none. D) none. Paying back three times the amount of an illegal commission received is A) treble damages. B) thrice fined. C) triple fine. D) three times a fine. A) treble damages. In determining whether a hearing should be formal or informal, TREC considers the A) age of the licensee. B) number of years the licensee has been licensed. C) clarity of TREC's jurisdiction. D) gender of the licensee. C) clarity of TREC's jurisdiction. Should someone falsify information on a real estate license application, TREC has the authority to A) have the applicant imprisoned. B) modify the information on the application. C) refuse a license to the applicant. D) send the applicant back to the country of national origin. C) refuse a license to the applicant. For TREC to revoke a license, the necessary