Affiliate Broker Priya has been found guilty by TREC of commingling client funds with her personal bank account. Under Tennessee license law, which of the following disciplinary actions is TREC authorized to impose?
Correct Answer
A) TREC may revoke or suspend Priya's license, impose a civil penalty, and require additional education.
Under Tenn. Code Ann. § 62-13-101 et seq., TREC has broad disciplinary authority and may revoke or suspend a license, impose civil monetary penalties, require completion of additional education, and take other corrective actions when a licensee is found to have violated Tennessee license law. Commingling of client funds is a serious violation that can result in revocation. TREC is not limited to warnings or short suspensions.
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Related Topics & Key Terms
Key Terms:
Related Concepts
License requirements are the mandatory qualifications—including pre-licensing education, examination, and background checks—that a person must satisfy before legally practicing real estate. These requirements are established and enforced by each state's real estate commission.
Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
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