Which of the following is true regarding the Texas Real Estate Commission?

Three members must represent the public.

The purpose of the Education Standards Advisory Committee (ESAC) is to

maintain education standards for education aspect of Texas license laws.

In fulfilling its regulatory role, TREC is empowered to

impose fines as well as suspend or revoke licenses.

The TREC is empowered to

discipline violators of license laws.

If a licensee's suspension is upheld following a hearing, the licensee may

appeal to a district court where the hearing was held.

Which of the following is true regarding the Texas Real Estate Recovery Trust Fund?

Licensee to disclose, trust fund exist to reimburse parties damages.

Which of the following is true regarding one's license status?

Suspended agents must notify broker in writing within 3 days of suspension.

Which of the following is true regarding complaints?

They must be filed within 4 years.

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State (11): Texas Real Estate Commission

8 termsStudBud Administration14 plays

Q: Pg 188-189 A: Pg 265-266

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Questions 8

Answers

1
Which of the following is true regarding the Texas Real Estate Commission?
six members are appointed by the governor w/ Senate approval.
Commissioners serve staggered 3 yr terms.
Three members must represent the public.
Nine members are elected to 6 yr terms.
2
The purpose of the Education Standards Advisory Committee (ESAC) is to
approve the delivery performance of real estate instructors.
standardize education requirements for licensees and schools.
hire & manage real estate examination staff to manage state license exams.
maintain education standards for education aspect of Texas license laws.
3
In fulfilling its regulatory role, TREC is empowered to
convict licensees of misdemeanors or felonies.
dissolve offending business entities such as real estate mgmt companies.
amend license laws if deemed illegal or unfair.
impose fines as well as suspend or revoke licenses.
4
The TREC is empowered to
impose incarceration sentences for flagrant violators of license law.
discipline violators of license laws.
enact laws to administer license law statues.
est. standard business practices, market area delineation & commissions.
5
If a licensee's suspension is upheld following a hearing, the licensee may
sue in district court for injunctive relief.
appeal to a district court where the hearing was held.
appeal to an appellate court where the violation occurred.
not appeal the TREC's decision.
6
Which of the following is true regarding the Texas Real Estate Recovery Trust Fund?
Licensee must prominently display form 1-1 to consumers of caveat emptor.
Licensees fund the trust account through fines and judgements by TREC.
Licensee to disclose, trust fund exist to reimburse parties damages.
Trust fund assist licensee for payment of judgement to consumers.
7
Which of the following is true regarding one's license status?
Suspended broker must notify agents within 7 days of suspension.
Suspended agents must notify broker in writing within 3 days of suspension.
If agent is suspended, broker has 7 days to request a hearing.
Suspended agent may cont. paid advertising, but cease all other practices.
8
Which of the following is true regarding complaints?
They may not be conducted covertly without the knowledge of all parties.
The must be investigated regardless of their merit or lack of it.
They must be filed within 4 years.
They are adjudicated in the order they were received.

State (11): Texas Real Estate Commission Flashcards | StudBud