Texas Real Estate Exam; STATE
portion Exam Questions and
Answers 100% Pass
How many members in TREC? -
CORRECT ANSWER-9: 3 general public, 6 brokers
Who appoints, confirms TREC members? -
CORRECT ANSWER-Governor appoints, senate approves
How many members on the Broker-Lawyer Committee? -
CORRECT ANSWER-13: 6 brokers, 6 lawyers, 1 public member
Who appoints Broker-Lawyer committee members? -
CORRECT ANSWER-Brokers/TREC, Lawyers/Pres of State Bar, Public
Member/Governor
Where is the Real Estate Advisory Committee? -
CORRECT ANSWER-Texas A & M
Who is on the Real Estate Advisory Committee? -
,CORRECT 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? -
CORRECT ANSWER-4 years
If your license is revoked by TREC, you may..... -
CORRECT ANSWER-appeal to the district court
Brokerage without a license is defined as a -
CORRECT ANSWER-Class A Misdemeanor
Penalties for Brokerage without a license -
CORRECT 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 -
CORRECT ANSWER-Civil penalties of up to three times the amount of money
received
The Real Estate Recovery Account was created to -
CORRECT 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 -
, CORRECT 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, -
CORRECT 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, -
CORRECT 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 -
CORRECT ANSWER-is $100,000 per license holder and $50,000 per transaction.
Does TREC resolve disputes between license holders? -
CORRECT ANSWER-No
YES License -
CORRECT ANSWER-attorneys receiving a commission
YES License -
CORRECT ANSWER-Auctioneers involved in any part of a transaction, other
than calling
YES License -
CORRECT ANSWER-apartment locators
portion Exam Questions and
Answers 100% Pass
How many members in TREC? -
CORRECT ANSWER-9: 3 general public, 6 brokers
Who appoints, confirms TREC members? -
CORRECT ANSWER-Governor appoints, senate approves
How many members on the Broker-Lawyer Committee? -
CORRECT ANSWER-13: 6 brokers, 6 lawyers, 1 public member
Who appoints Broker-Lawyer committee members? -
CORRECT ANSWER-Brokers/TREC, Lawyers/Pres of State Bar, Public
Member/Governor
Where is the Real Estate Advisory Committee? -
CORRECT ANSWER-Texas A & M
Who is on the Real Estate Advisory Committee? -
,CORRECT 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? -
CORRECT ANSWER-4 years
If your license is revoked by TREC, you may..... -
CORRECT ANSWER-appeal to the district court
Brokerage without a license is defined as a -
CORRECT ANSWER-Class A Misdemeanor
Penalties for Brokerage without a license -
CORRECT 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 -
CORRECT ANSWER-Civil penalties of up to three times the amount of money
received
The Real Estate Recovery Account was created to -
CORRECT 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 -
, CORRECT 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, -
CORRECT 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, -
CORRECT 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 -
CORRECT ANSWER-is $100,000 per license holder and $50,000 per transaction.
Does TREC resolve disputes between license holders? -
CORRECT ANSWER-No
YES License -
CORRECT ANSWER-attorneys receiving a commission
YES License -
CORRECT ANSWER-Auctioneers involved in any part of a transaction, other
than calling
YES License -
CORRECT ANSWER-apartment locators
