TEXAS REAL ESTATE SALES AGENT
LICENSING LEVEL III EXAM QUESTIONS
AND CORRECT ANSWERS (VERIFIED
ANSWERS) PLUS RATIONALES 2026 Q&A |
INSTANT DOWNLOAD
1. Which of the following is required for a person to obtain a Texas
real estate sales agent license?
A. Be at least 18 years old
B. Complete required education
C. Pass the licensing exam
D. All of the above
D. All of the above
All listed requirements must be met for licensure.
2. How long is a Texas real estate sales agent license valid before
renewal?
A. 1 year
B. 2 years
C. 4 years
D. 5 years
B. 2 years
Texas licenses are valid for two years, after which continuing education
and renewal are required.
3. What is the primary purpose of the Texas Real Estate Commission
(TREC)?
A. To sell real estate
,B. To regulate the real estate industry
C. To provide mortgages
D. To set property taxes
B. To regulate the real estate industry
TREC oversees licensing, education, and enforcement of real estate
laws.
4. A real estate agent must place client funds in a separate account.
This account is called:
A. Trust account
B. Operating account
C. Personal account
D. Savings account
A. Trust account
Client funds must be kept separate from personal funds to prevent
commingling.
5. Which of the following is considered a fiduciary duty?
A. Obedience
B. Loyalty
C. Disclosure
D. All of the above
D. All of the above
Agents owe clients duties including obedience, loyalty, disclosure,
confidentiality, accounting, and reasonable care.
6. Which type of listing agreement allows multiple brokers to earn a
commission, but only the broker who brings the buyer gets paid?
A. Exclusive right-to-sell
B. Exclusive agency
C. Open listing
D. Net listing
, C. Open listing
Open listings are non-exclusive; only the procuring broker earns a
commission.
7. A salesperson wants to list a property at $200,000, but the seller
wants to net $180,000 after a 6% commission. What should the listing
price be?
A. $191,500
B. $191,489
C. $200,000
D. $192,000
B. $191,489
Calculation: $180,000 ÷ (1 - 0.06) = $191,489.
8. The Texas Deceptive Trade Practices Act primarily protects:
A. Real estate agents
B. Homeowners
C. Consumers
D. Lenders
C. Consumers
The DTPA prohibits false, misleading, and deceptive practices in trade
and commerce.
9. Which of the following is required in a valid contract?
A. Offer and acceptance
B. Consideration
C. Legal purpose
D. All of the above
D. All of the above
All elements are necessary for a legally binding contract.
10. An agent representing both buyer and seller in the same
transaction is called:
LICENSING LEVEL III EXAM QUESTIONS
AND CORRECT ANSWERS (VERIFIED
ANSWERS) PLUS RATIONALES 2026 Q&A |
INSTANT DOWNLOAD
1. Which of the following is required for a person to obtain a Texas
real estate sales agent license?
A. Be at least 18 years old
B. Complete required education
C. Pass the licensing exam
D. All of the above
D. All of the above
All listed requirements must be met for licensure.
2. How long is a Texas real estate sales agent license valid before
renewal?
A. 1 year
B. 2 years
C. 4 years
D. 5 years
B. 2 years
Texas licenses are valid for two years, after which continuing education
and renewal are required.
3. What is the primary purpose of the Texas Real Estate Commission
(TREC)?
A. To sell real estate
,B. To regulate the real estate industry
C. To provide mortgages
D. To set property taxes
B. To regulate the real estate industry
TREC oversees licensing, education, and enforcement of real estate
laws.
4. A real estate agent must place client funds in a separate account.
This account is called:
A. Trust account
B. Operating account
C. Personal account
D. Savings account
A. Trust account
Client funds must be kept separate from personal funds to prevent
commingling.
5. Which of the following is considered a fiduciary duty?
A. Obedience
B. Loyalty
C. Disclosure
D. All of the above
D. All of the above
Agents owe clients duties including obedience, loyalty, disclosure,
confidentiality, accounting, and reasonable care.
6. Which type of listing agreement allows multiple brokers to earn a
commission, but only the broker who brings the buyer gets paid?
A. Exclusive right-to-sell
B. Exclusive agency
C. Open listing
D. Net listing
, C. Open listing
Open listings are non-exclusive; only the procuring broker earns a
commission.
7. A salesperson wants to list a property at $200,000, but the seller
wants to net $180,000 after a 6% commission. What should the listing
price be?
A. $191,500
B. $191,489
C. $200,000
D. $192,000
B. $191,489
Calculation: $180,000 ÷ (1 - 0.06) = $191,489.
8. The Texas Deceptive Trade Practices Act primarily protects:
A. Real estate agents
B. Homeowners
C. Consumers
D. Lenders
C. Consumers
The DTPA prohibits false, misleading, and deceptive practices in trade
and commerce.
9. Which of the following is required in a valid contract?
A. Offer and acceptance
B. Consideration
C. Legal purpose
D. All of the above
D. All of the above
All elements are necessary for a legally binding contract.
10. An agent representing both buyer and seller in the same
transaction is called:
