Texas Real Estate Exam (State) Questions With Correct answers

Texas Real Estate Exam (State) Questions
With Correct answers

Texas /Real /Estate /Commission /(TREC) /- /correct /answer(s) /✔✔ /-created /in /1949

-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 /- /correct /answer(s) /✔✔ /-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 /- /correct /answer(s) /✔✔ /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 /estate /license /- /correct /answer(s) /✔✔ /1.attorneys /who
/participate /in /a /commission /split



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




steps /in /obtaining /a /real /estate /license /- /correct /answer(s) /✔✔ /1. /meet /the /educational
/requirements



2. /submit /an /application /with /or /without /a /sponsoring /broker

3. /submit /the /required /fees

4. /pass /the /state /exam

5. /demonstrate /integrity



licensing /requirements /- /correct /answer(s) /✔✔ /-18 /years /of /age

-resident /of /Texas /at /the /time /of /application

-comply /with /legal /residency /requirements /(not /an /illegal /alien)



educational /requirements /- /correct /answer(s) /✔✔ /180 /classroom /hours /with /a /minimum /of
/120 /in /core /real /estate /courses



-60 /hours /in /Principles /of /Real /Estate, /30 /hours /in /Law /of /Contracts, /30 /hours /in /the /Law /of
/Agency /are /mandatory




TREC /Consumer /information /form /1-1 /- /correct /answer(s) /✔✔ /-notifies /the /public /of /the
/recovery /fund



-applies /to /both /real /estate /licensees /and /inspectors

-must /be /displayed /in /the /broker's /office