Champions Exam Prep Texas State Questions.pdf file:///C:/Users/HP/Desktop/New%20fl/Champions%20Exam%20P
Champions Exam Prep Texas State Questions &
Verified Answers
1. TREC has received an application for a Texas Real Estate Sales Licensefrom Mary.
Mary has completed all her educational requirements, and passed the stateexam. At this
point TREC will begin the background check.
What is FALSE?
(a) TREC has no time limit for determining integrity
(b) TREC has 30 days to complete the background check
(c) TREC has 30 days to notify Mary of a decision to disapprove her application
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(d) Mary has 10 days to appeal a denial of her application:
Answer False TREC has 30days to complete the background check.
DEF TREC has no limit on days to review your application or complete yourbackground
check.
They have 30 days to notify you of their decision and you have 10 days to appealthat decision.
2. Marcos was a TX licensed Real Estate Sales agent for some time. He thenchose to
become inactive and TREC has been holding his license in inactivestatus. He now wishes
to activate the license.
What will he have to do
Answer Apply through a broker, pay *$50* and take a *18-hour*continuing education course
3. A license holder has defaulted on his student loans.
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As a result of thisTREC will
Answer *Refuse to renew the license*, unless and until, theloan payments are brought up to
date.
4. Does the IABS disclose agency or personal interest
Answer Agency Interest
5. When a license holder markets his own property he should
Answer Inform thebuyer that he is a license holder, and the owner of the property.
DEF Per TRELA you must always disclose self, spouse, parent or child is involvedin a real estate
transaction.
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The IABS discloses agency not personal interest. There is no TREC promulgated form solely
intended for this disclosure although paragraph 4 of the TREC contractsare now used for this. Not
mentioning your personal interest in a transaction is illegal.
6. A Texas broker may pay a commission to?
(a) A foreign broker who doesn't negotiate in Texas
(b) A licensed attorney in Texas
(c) An in-house employee of a principal
(d) Any unlicensed person for a referral:
Answer A foreign broker who doesn't negotiatein Texas.
DEF: Any licensed broker outside of Texas is considered a foreign broker and maybe paid a
referral fee out of your commission.
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