TEXAS REAL ESTATE LAW QUESTION
WITH 100% ACCURATE ANSWERS
TEXAS REAL ESTATE LAW
, TRELA- - Accurate answers Texas Real Estate Licensing Act
Purpose of Trec and Trela- - Accurate answers to protect the public of the state of texas
What is the law that governs all real estate licensess? - Accurate answers Texas Real Estaet License
Act, and sets the powers of TREC.
How do you know if a real estate license is required? - Accurate answers Three prong test
Activity or Dealing in Real Property
For Compensation
for Others
Acronym to determine if you need a license? - Accurate answers LL BEANS. Required if any of the
following are done for compensation:
Lists
Leases
Buys
Exchanges
Auctions
Negotiations
Sells
What is the charge for practicing without a license? - Accurate answers Class A Misdemeanor
What is practicing without a license punishment? - Accurate answers 4000 Fine
And or Up to one year in Jail
when punishes by a court, what may a court do? - Accurate answers 1-3 times the amount of
compensation earned while practicing without a license
Trec Recognizes what two levels in the responsibilities of licenses? - Accurate answers SalesPerson
License
Salesperson License- - Accurate answers No experience Required
- 18 years old
- Must be a resident of Texas at time of filing
- work under supervision of a principal or sponsoring broker.
What are complete requirements of a salesperson? - Accurate answers 12 semester or 180 hours
WITH 100% ACCURATE ANSWERS
TEXAS REAL ESTATE LAW
, TRELA- - Accurate answers Texas Real Estate Licensing Act
Purpose of Trec and Trela- - Accurate answers to protect the public of the state of texas
What is the law that governs all real estate licensess? - Accurate answers Texas Real Estaet License
Act, and sets the powers of TREC.
How do you know if a real estate license is required? - Accurate answers Three prong test
Activity or Dealing in Real Property
For Compensation
for Others
Acronym to determine if you need a license? - Accurate answers LL BEANS. Required if any of the
following are done for compensation:
Lists
Leases
Buys
Exchanges
Auctions
Negotiations
Sells
What is the charge for practicing without a license? - Accurate answers Class A Misdemeanor
What is practicing without a license punishment? - Accurate answers 4000 Fine
And or Up to one year in Jail
when punishes by a court, what may a court do? - Accurate answers 1-3 times the amount of
compensation earned while practicing without a license
Trec Recognizes what two levels in the responsibilities of licenses? - Accurate answers SalesPerson
License
Salesperson License- - Accurate answers No experience Required
- 18 years old
- Must be a resident of Texas at time of filing
- work under supervision of a principal or sponsoring broker.
What are complete requirements of a salesperson? - Accurate answers 12 semester or 180 hours
