For a business entity to be licensed as a broker the following is required:
A) the entity must provide proof of E&O insurance of $1 million for each occurrence if the designated agent owns less than 10% of the entity.
B) a managing officer of the entity must be designated as the agent for purposes of TRELA.
C) all of these are required.
D) the designated agent must have a broker's license in active and good standing with TREC.
Answer: C) all of these are required.
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