Final answer:
TREC can revoke or suspend a real estate license for criminal convictions, violation of the Fair Housing Act, and failure to renew on time.
Step-by-step explanation:
TREC can revoke or suspend a real estate license for various reasons. Criminal convictions related to real estate activities and violation of the Fair Housing Act are among the causes for license revocation or suspension. Additionally, failure to renew a real estate license on time can also result in the same consequences. However, earning a real estate designation from a recognized institution does not typically lead to the revocation or suspension of a license.