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Texas Real Estate State Exam Practice Questions and Answers | 100% Pass
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Texas Real Estate State Exam Practice Questions and Answers | 100% Pass When was TREC created? - Answer️️ -1947 TREC has the authority to.. - Answer️️ -make rules and regulations. It's rules and laws govern license holders TREC has how many commission members? - Answer️️ -9 members...

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  • September 16, 2024
  • 18
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • texas real estate state exam practice questions an

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  • Texas Real estate
  • Texas Real estate

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©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM



Texas Real Estate State Exam Practice
Questions and Answers | 100% Pass

When was TREC created? - Answer✔️✔️-1947


TREC has the authority to.. - Answer✔️✔️-make rules and regulations. It's rules and laws

govern license holders

TREC has how many commission members? - Answer✔️✔️-9 members, 3 represent the

general public and 6 are real estate brokers

TREC has the power to.. - Answer✔️✔️-subpoena books, records, and witnesses and

issue and revoke real estate licenses

If your license is revoked by TREC... - Answer✔️✔️-You can appeal the decision to the

district court

Who writes promulgated contract forms? - Answer✔️✔️-The Broker Lawyer Committee

Who are the members of the Broker Lawyer Committee? - Answer✔️✔️-13 total, 6 are

TREC appointed brokers, 6 are lawyers appointed by the President of the State Bar

Association, and one is a public member appointed by the governor

Penalty of practicing without a license - Answer✔️✔️-People engaged in the real estate

brokerage business without having secured a license from TREC are guilty of a Class A

Misdemeanor and subject to a fine of not more than $4,000.00 or impris- onment in the

county jail for not more than one year, or both. Trials for this would be held in the county

court.



Page | 1

, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM


In addition, persons guilty of a violation of the License Act and whoever profited there

from are liable for additional civil penalties of up to three times the amount of money

received.

TREC penalty of violating license act - Answer✔️✔️-TREC may assess an administrative

penalty of up to $5,000 per day for violation of the license act by any person, either

licensed or unlicensed. If TREC assesses a penalty, a license holder has 30 days to

pay the penalty.

Unlicensed assistant is only allowed to - Answer✔️✔️-do clerical duties and greet at an

open house

If an unlicensed assistant does work requiring a license, the penalty is - Answer✔️✔️-

both realtor and assistant get fined

Real Estate Recovery Trust Account - Answer✔️✔️-It was created by TREC to pay

aggrieved persons who suffered a monetary loss due to unscrupulous acts of the

license holders. These persons can receive up to three times the amount of money lost.

If at any time in the calendar year the account balance is below $1,000,000 the Real

Estate Recovery Trust Account can... - Answer✔️✔️-the commission is authorized to

assess each real estate broker and salesman on renewal of his license during the

following calendar year a fee of $10.00, or a pro rata share of the amount necessary to

bring the balance to $1,700,000. TREC invests the fees that have been deposited when

the recovery trust account is above the statutory minimum, to offset future claims. TREC

only invests in Treasury Bills or Notes, or in the same manner as the Employees

Retirement System of Texas. If the bal- ance in the account exceeds $3.5 million the

excess goes into the state's General Fund.

Page | 2

, ©SOPHIABENNETT_2024/2025 EXAM SERIES Monday, September 2, 2024 9:52 AM


If the Recovery Trust Account balance is not below $1,000,000... - Answer✔️✔️-TREC

simply continues to invest the funds.

When an amount is paid out of the Real Estate Recovery Trust Account on behalf of a

license holder... - Answer✔️✔️-the license of the individual can be revoked or suspended.

This license may never be recovered until the account has been repaid with interest.

***State law limits the maximum payment, which is $100,000 per license holder &

$50,000 per transaction.

People exempt from real estate licensing - Answer✔️✔️-1. Texas licensed attorneys can

handle a real estate transaction for a client for a fee as long as they do not participate in

broker to broker commission splits. Any attorney licensed in a state other than Texas

will need to be licensed in Texas (as an attorney) to handle a real estate transaction for

a client for a fee in Texas.

2. Court appointed receivers, trustees, guardians, and sheriffs.

3. Administrators and executors of a will.

4. On-site apartment managers.

5. New home salesmen working for one builder or owner.

6. Cemetery lot salesmen.

7. A person selling his own property.

8. An employee leasing or renting property for the owner.

9. Corporate employees selling corporate property.

10. Hotel/motel personnel.

11. An attorney-in-fact.

12. An auctioneer calling a real estate auction.

Page | 3

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