PearsonVue Texas RE Study Guide Correctly Answered Questions| UpToDate | Already Graded A+

TRELA ☑: Texas Real Estate License Act - Law that governs real estate licensees and sets the power for TREC TREC ☑: Texas real estate commission TREC Composition ☑: Nine Members - 6 brokers - 3 members of the general public Appointed by the governor, with advice and consent of state senate, to staggered sixyear terms One broker designated by the governor as chairperson EXCELLENCE 2 TREC Duties ☑: 1) Make and enforce rules and regulations 2) Establish Standards of Conduct and ethics for licensees 3) Administer and enforce license law ad levy civil fines 4) Select an administrator and employees to administer the law 5) Issue active and probationary licenses and collect money for licenses and renewals 6) Conduct investigations (within four years after the incident), hold hearings, and issue injunctions 7) Suspend or revoke a license, and place on probation or reprimand a licensee 8) Initiate a cease and desist action 9) Inspect and accredit real estate education programs 10) Promulgate contracts and addenda 11) Enforce the Texas Timeshare Act TREC WILL NOT ☑: - Mediate or settle commission or other disputes between licensees or brokerage firms - Recommend individual licensees to the public - Send licensees to jail Broker-Lawyer Committee FUNCTIONS ☑: - Draft, revise, and recommend contract forms intended for use by licensee