TREC form 1 Questions and answers, 100% Accurate. Graded A+
TREC form 1 Questions and answers, 100% Accurate. Graded A+ When is the TREC form one used for - 1. report a licensee's or firm's change of name or address 2. release an affiliate broker 3. report a transfer to a new firm 4. change of license status (active, inactive, or retired) What should a licensee do if they are transferring to another firm - n a release from his/her current broker 2. submit a transfer notice to TREC When does a license becomes inactive - fails to complete continuing education requirements. Temporary retirement status used when? - stop working in real estate without relinquishing their licenses A licensee in temporary retirement status must do what? - 1. continue meeting all education requirements 2. pay renewal fees before expiration dates 3. notify TREC about address changes 4. refrain from practicing real estate *doesn't have to have insurance* requirements to reinstate license - 1. meet all previous and current education requirements 2. pay all reinstatement fees and penalties 3. obtain errors and omission insurance What does a firm license qualify - qualifies a business to conduct real estate activities on its premises. To apply for firm licensee one must provide: - 1. name of the brokerage office's licensed principal broker 2. the address of its fixed location
Document information
- Uploaded on
- August 14, 2023
- Number of pages
- 2
- Written in
- 2023/2024
- Type
- Exam (elaborations)
- Contains
- Questions & answers
