Texas State Portion Real Estate
Exam|Questions and
Answers(UPDATED)
https://www.stuvia.com/user/thinktrek
+1(305) 565-6365
,How many members in TREC? - Answer ✅9: 3 general public, 6 brokers
Who appoints, confirms TREC members? - Answer ✅Governor appoints, senate approves
How many members on the Broker-Lawyer Committee? - Answer ✅13: 6 brokers, 6 lawyers, 1
public member
Who appoints Broker-Lawyer committee members? - Answer ✅Brokers/TREC, Lawyers/Pres of
State Bar, Public Member/Governor
Where is the Real Estate Advisory Committee? - Answer ✅Texas A & M
Who is on the Real Estate Advisory Committee? - Answer ✅10 members: 6 brokers, 3 public
members, 1 ex TREC officio
How long does an individual have after an incident to file a complaint against a license holder? -
Answer ✅4 years
If your license is revoked by TREC, you may..... - Answer ✅appeal to the district court
Brokerage without a license is defined as a - Answer ✅Class A Misdemeanor
Penalties for Brokerage without a license - Answer ✅Fine up to $4,000; imprisonment in
county jail for not more than 1 year, or both
Additional penalties for brokerage without a license - Answer ✅Civil penalties of up to three
times the amount of money received
, The Real Estate Recovery Account was created to - Answer ✅pay aggrieved persons who
suffered monetary losses due to unscrupulous acts of license holders.
If Real Estate Recovery Trust Account is below $1 million - Answer ✅Brokers and licensees pay
a pro rata share of $10 upon license renewal
If Real Estate Recovery Trust Account is above $3.5 million, - Answer ✅the excess goes into the
State's General Fund
When an amount if paid out of the Real Estate Recovery Trust Account on behalf of a license
holder, - Answer ✅the license of the person can be suspended or revoked. It may never be
recovered until the account is paid back with interest.
Maximum amount payable by the Real Estate Recovery Trust Account - Answer ✅is $100,000
per license holder and $50,000 per transaction.
Does TREC resolve disputes between license holders? - Answer ✅No
YES License - Answer ✅attorneys receiving a commission
YES License - Answer ✅Auctioneers involved in any part of a transaction, other than calling
YES License - Answer ✅apartment locators
Yes License - Answer ✅real estate agents
Exam|Questions and
Answers(UPDATED)
https://www.stuvia.com/user/thinktrek
+1(305) 565-6365
,How many members in TREC? - Answer ✅9: 3 general public, 6 brokers
Who appoints, confirms TREC members? - Answer ✅Governor appoints, senate approves
How many members on the Broker-Lawyer Committee? - Answer ✅13: 6 brokers, 6 lawyers, 1
public member
Who appoints Broker-Lawyer committee members? - Answer ✅Brokers/TREC, Lawyers/Pres of
State Bar, Public Member/Governor
Where is the Real Estate Advisory Committee? - Answer ✅Texas A & M
Who is on the Real Estate Advisory Committee? - Answer ✅10 members: 6 brokers, 3 public
members, 1 ex TREC officio
How long does an individual have after an incident to file a complaint against a license holder? -
Answer ✅4 years
If your license is revoked by TREC, you may..... - Answer ✅appeal to the district court
Brokerage without a license is defined as a - Answer ✅Class A Misdemeanor
Penalties for Brokerage without a license - Answer ✅Fine up to $4,000; imprisonment in
county jail for not more than 1 year, or both
Additional penalties for brokerage without a license - Answer ✅Civil penalties of up to three
times the amount of money received
, The Real Estate Recovery Account was created to - Answer ✅pay aggrieved persons who
suffered monetary losses due to unscrupulous acts of license holders.
If Real Estate Recovery Trust Account is below $1 million - Answer ✅Brokers and licensees pay
a pro rata share of $10 upon license renewal
If Real Estate Recovery Trust Account is above $3.5 million, - Answer ✅the excess goes into the
State's General Fund
When an amount if paid out of the Real Estate Recovery Trust Account on behalf of a license
holder, - Answer ✅the license of the person can be suspended or revoked. It may never be
recovered until the account is paid back with interest.
Maximum amount payable by the Real Estate Recovery Trust Account - Answer ✅is $100,000
per license holder and $50,000 per transaction.
Does TREC resolve disputes between license holders? - Answer ✅No
YES License - Answer ✅attorneys receiving a commission
YES License - Answer ✅Auctioneers involved in any part of a transaction, other than calling
YES License - Answer ✅apartment locators
Yes License - Answer ✅real estate agents
