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A real estate license is an authorization issued by a government body to give agents and brokers the legal authority to represent a home seller or buyer in a real estate transaction. Real estate agents and real estate brokers are required to be licensed when conducting real estate transactions in the United States and in a small number of other ...
The Texas Real Estate Commission (TREC) is the state agency that governs real estate practices in the state of Texas. The agency is headquartered at 1700 North Congress in Austin. [1] TREC is composed of nine members appointed by the Governor with the concurrence of the Texas Senate. The members are appointed for six-year terms, with the terms ...
Test takers cannot "fail" a norm-referenced test, as each test taker receives a score that compares the individual to others that have taken the test, usually given by a percentile. This is useful when there is a wide range of acceptable scores, and the goal is to find out who performs better.
A real estate broker typically receives a real estate commission for successfully completing a sale. Across the U.S, this commission can generally range between 5-6% of the property's sale price for a full-service broker but this percentage varies by state and even region. [2]
Compared to a multiple-choice, norm-referenced test, a standards-based test can be recognized by: A cut score is determined for different levels of performance. There are no cut scores for norm-referenced tests. There is no failing score on the SAT test. Each college or institution sets their own score standards for admission or awards.
A footrace is an authentic norm-referenced test. The point of the race is to see who runs the fastest, rather than to see whether everyone can run at a certain speed. A norm-referenced test is one that is designed and scored so that some test takers rank better or worse than others. [4]