During a TREC disciplinary hearing, it is established that a Tennessee broker knowingly made a false statement in a real estate transaction to induce a buyer to purchase a property. Which of the following disciplinary outcomes is within TREC's authority under the Tennessee Real Estate Broker License Act?
Correct Answer
D) TREC may impose a fine, suspend the broker's license, or revoke the broker's license.
Under Tenn. Code Ann. § 62-13-312, TREC has the authority to impose a range of disciplinary sanctions for violations including misrepresentation, such as civil penalties (fines), license suspension, and license revocation. TREC may choose among these sanctions based on the severity of the violation.
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Related Topics & Key Terms
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Related Concepts
A group boycott is an illegal antitrust practice in which two or more competing real estate businesses agree to refuse to work with a specific person, company, or entity in order to harm that party's ability to compete.
In real estate, the distinction between an independent contractor and an employee determines tax treatment, liability, and the level of control a broker may exercise over the agent's daily activities. Most real estate agents operate as independent contractors.
Florida real estate licenses must be renewed biennially, and sales associates have specific post-license education requirements for their first renewal.
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?
In Wyoming real estate practice, a first-time salesperson applicant completes coursework. What should the licensee remember?
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?
- → A responsible broker in Wyoming asks about a first-time salesperson applicant prepares for Wyoming-specific licensing. Which answer follows Wyoming law?
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