TREC State Exam 3, Top Questions and answers, rated A+

TREC State Exam 3, Top Questions and answers, rated A+ An unlicensed assistant prospects for leads for their agent employer. Who could be fined and/or have a licensed suspended or revoked by TREC? - The unlicensed assistant, agent and sponsoring broker When is the termination option fee in the 1-4 Family Contract due? - by midnight of the negotiated date The option period ends: - at 5 pm on the day mentioned in the contract A broker who has a representation agreement with a buyer decided to rebate part of the commission to the buyer to cover closing costs. The broker should: - Rebate an amount on the closing disclosure (CD) Who is eligible for a TVLB loan - eligible spouses When a broker posts pictures of other brokers' listings on his website, what is required? - written permission A broker's duty consists of updating/notifying agents about: - Compliance Issues Who can a buyer pay a referral commission to? - a broker license holder in this or any other state A buyer's agent rebates a portion of their commission to a buyer. Who needs to approve this? - the sponsoring broker A foreign broker advertises that he sells houses outside his state for a flat fee. What is true? - He must refer this transaction to a resident broker in TX How much continuing education may be carried over the next renewal period? - None The total hours required at the end of your SAE renewal period consist of: - 270 qualifying hours plus 8 hours of legal 1 & 2 (278 total)