TREBS 2021 Exam Prep - State Portion
III Questions & Answers3
T3. The commission may suspend or revoke the license of a broker or salesperson who
guarantees that future profits will result from a resale of real property.
A. True
B. False - ANSWERS-A. True. A licensee may not promise or guarantee profits from the resale of
a property.
T3. Chapter 531 Canons of Professional Ethics and Conduct includes:
A. Fidelity
B. Integrity
C. Competency
D. All of the above - ANSWERS-D. All of the above. Fidelity, integrity, and competency are all part
of the Canons of Professional Ethics and Conduct.
T3. If a salesperson is convicted of a felony, what can TREC do?
A. TREC can do nothing, as they have no authority with regards to a felony.
B. TREC can suspend or revoke the license.
C. TREC can send an official reprimand to the broker.
D. TREC can arrest the salesperson. - ANSWERS-B. TREC can suspend or revoke the license. You
are required to notify TREC within 30 days if you have been convicted of a crime even if you are
already licensed. Before you apply for a license, you can request a Moral Character
Determination to determine whether your moral character meets TREC's qualifications for
honesty, trustworthiness, and integrity.
T3. Commingling, as used in the Real Estate License Act, is:
III Questions & Answers3
T3. The commission may suspend or revoke the license of a broker or salesperson who
guarantees that future profits will result from a resale of real property.
A. True
B. False - ANSWERS-A. True. A licensee may not promise or guarantee profits from the resale of
a property.
T3. Chapter 531 Canons of Professional Ethics and Conduct includes:
A. Fidelity
B. Integrity
C. Competency
D. All of the above - ANSWERS-D. All of the above. Fidelity, integrity, and competency are all part
of the Canons of Professional Ethics and Conduct.
T3. If a salesperson is convicted of a felony, what can TREC do?
A. TREC can do nothing, as they have no authority with regards to a felony.
B. TREC can suspend or revoke the license.
C. TREC can send an official reprimand to the broker.
D. TREC can arrest the salesperson. - ANSWERS-B. TREC can suspend or revoke the license. You
are required to notify TREC within 30 days if you have been convicted of a crime even if you are
already licensed. Before you apply for a license, you can request a Moral Character
Determination to determine whether your moral character meets TREC's qualifications for
honesty, trustworthiness, and integrity.
T3. Commingling, as used in the Real Estate License Act, is:
