FAST TRACK REALTY CE FINAL REAL ESTATE BROKERAGE | QUESTIONS AND ANSWERS |
2025/2026 UPDATE | WITH COMPLETE SOLUTION
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
, FAST TRACK REALTY CE FINAL REAL ESTATE BROKERAGE | QUESTIONS AND ANSWERS |
2025/2026 UPDATE | WITH COMPLETE SOLUTION
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
Yes License - (ANSWER)Business entities who receives commissions on behalf of license holders
Yes License - (ANSWER)Designated broker, officer, or manager of a Real Estate Limited Liability Company
2025/2026 UPDATE | WITH COMPLETE SOLUTION
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
, FAST TRACK REALTY CE FINAL REAL ESTATE BROKERAGE | QUESTIONS AND ANSWERS |
2025/2026 UPDATE | WITH COMPLETE SOLUTION
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
Yes License - (ANSWER)Business entities who receives commissions on behalf of license holders
Yes License - (ANSWER)Designated broker, officer, or manager of a Real Estate Limited Liability Company
