Texas Real Estate Principles 1 - Unit 1 Exam 2023 WITH CORRECT ANSWERS

The Committee has _____ members appointed by the Commission. 12 The __________ is a statute that is administered and enforced by the Texas Real Estate Commission (TREC), which is a state agency. Real Estate License Act A successful career in real estate requires someone to: be a self-started. A peak is characterized as the __________ turning point of a business cycle. upper To be eligible to get a Texas real estate sales agent or broker license, a person must: All of the choices apply Which of the following is not a duty of TREC? Creates state laws, statues, and rules What are changes in business and economic activity that occur within the year? Short-term fluctuations. The majority of new licensees begin their careers with a __________ to help homeowners sell and homebuyers purchase homes. residential brokerage Which of the following statements is true regarding NAR and TAR? All of the choices apply. Any person who wants to engage in the real estate business and act as a real estate broker or real estate sales agent within the state of Texas must obtain a license from the: Texas Real Estate Commission. The Education Standards Advisory Committee is responsible for reviewing and revising: All of the choices apply. A(n) __________ is a rule issued by an administrative agency to enforce or amplify a statute. regulation