Texas Real Estate EXAM Prep Questions With Complete Solutions

TREC correct answer: The Texas Real Estate Commission 6 broker members and 3 public members created to administer the provisions of the license act, they promulgate contract forms for licensees TRELA correct answer: The Texas real estate license act passed by legislation to protect the public Broker lawyer committee correct answer: 6 attorneys appointed by the President of the state Bar, 6 brokers appointed by the TREC and 1 public member appointed by the Governor, they write the Texas contract forms Real estate recovery trust account correct answer: An account established to pay aggrieved persons who suffer a monetary loss due to unscrupulous acts of Licensee's SAE correct answer: Salesman's annual education, a 90 hour core requirement that must be met during the first 2 years of Licensing in order for a licensee to be able to renew that license MCE correct answer: Mandatory continuing education, a 15 hour course taken once every two years and including 6 hours of legal update, required by all licensees with a total of 270 or more core hours Inactive correct answer: A license has been renewed but is