TEXAS REAL ESTATE STATE EXAM 2026 Actual
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Terms in this set (32)
Texas Real Estate Commission -created in 1949
(TREC) -purpose: to administer the provisions of the
License Act
-authority to make rules and regulations
-9 members (3 represent the general public, 6
are real estate brokers)
-all appointed by the governor and approved by
the Senate
-serve 6 year terms
-has the power to subpoena books, records, and
witnesses
-has the power to issue or revoke Real Estate
Licenses
Broker Lawyer Committee -writes promulgated contract forms
-13 members (6 are brokers appointed by TREC, 6
are lawyers appointed by the President of the
State Bar Association, 1 is a public member
appointed by the governor)
, Real Estate Recovery Fund created by TREC to pay aggrieved persons who
suffered a monetary loss due to unscrupulous
acts of the licensees
-persons can receive up to 3 times the amount of
money lost
-when an amount is paid out of it, the license of
the individual is automatically revoked or
suspended without a hearing (cannot be
recovered until the fund has been repaid with
interest)
persons who must have a real 1.attorneys who participate in a commission split
estate license 2.auctioneers involved in a real estate transaction
3.apartment locators
4.real estate salespeople
5.the designated officer of a licensed real estate
corporation or the designated manager of a
licensed Real Estate Limited Liability Company
(the designated one is a broker)
1-4 MUST BE SPONSORED BY A BROKER AND
RECEIVE COMMISSIONS ONLY FROM THAT
BROKER
Questions with Verified Answers, 100%
Guarantee Pass Score
Save
Terms in this set (32)
Texas Real Estate Commission -created in 1949
(TREC) -purpose: to administer the provisions of the
License Act
-authority to make rules and regulations
-9 members (3 represent the general public, 6
are real estate brokers)
-all appointed by the governor and approved by
the Senate
-serve 6 year terms
-has the power to subpoena books, records, and
witnesses
-has the power to issue or revoke Real Estate
Licenses
Broker Lawyer Committee -writes promulgated contract forms
-13 members (6 are brokers appointed by TREC, 6
are lawyers appointed by the President of the
State Bar Association, 1 is a public member
appointed by the governor)
, Real Estate Recovery Fund created by TREC to pay aggrieved persons who
suffered a monetary loss due to unscrupulous
acts of the licensees
-persons can receive up to 3 times the amount of
money lost
-when an amount is paid out of it, the license of
the individual is automatically revoked or
suspended without a hearing (cannot be
recovered until the fund has been repaid with
interest)
persons who must have a real 1.attorneys who participate in a commission split
estate license 2.auctioneers involved in a real estate transaction
3.apartment locators
4.real estate salespeople
5.the designated officer of a licensed real estate
corporation or the designated manager of a
licensed Real Estate Limited Liability Company
(the designated one is a broker)
1-4 MUST BE SPONSORED BY A BROKER AND
RECEIVE COMMISSIONS ONLY FROM THAT
BROKER
