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Exam (elaborations)

Texas Real Estate Exam (State) Exam Study Guide with Complete Solutions

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  • Texas Real Estate

Texas Real Estate Exam (State) Exam Study Guide with Complete Solutions Texas Real Estate Commission (TREC) - Answer️️ --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...

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  • September 16, 2024
  • 7
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • 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 Exam (State) Exam
Study Guide with Complete Solutions

Texas Real Estate Commission (TREC) - Answer✔️✔️--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 - Answer✔️✔️--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 - Answer✔️✔️-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 - Answer✔️✔️-1.attorneys who participate in

a commission split


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


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 - Answer✔️✔️-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 - Answer✔️✔️--18 years of age

-resident of Texas at the time of application

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

educational requirements - Answer✔️✔️-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 - Answer✔️✔️--notifies the public of the recovery

fund

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