David is a licensed Tennessee broker who has been assigned the Broker-in-Charge (BIC) designation at his firm. His license is due for renewal next month. Which of the following statements most accurately describes the CE obligations that apply specifically to David as a BIC, compared to a standard affiliate broker?
Correct Answer
B) David must complete additional BIC-specific CE hours or a designated BIC course as required by TREC, beyond the standard renewal CE
Under TREC rules, Brokers-in-Charge have additional continuing education obligations beyond those required of standard affiliate brokers. TREC requires BICs to complete a specific BIC course or designated additional hours that address supervisory and management responsibilities. This reflects Tennessee's recognition that BICs carry greater regulatory responsibility for their firms and sponsored licensees.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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A Wyoming licensee is reviewing an out-of-state salesperson applicant prepares for testing. What is the best answer?
In Wyoming real estate practice, a salesperson applicant age is reviewed. What should the licensee remember?
A responsible broker in Wyoming asks about a nonresident applicant provides home-state evidence. Which answer follows Wyoming law?
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- → For the Wyoming salesperson state portion, a licensee asks how long Wyoming renewal periods are. Which statement is correct?
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