Texas Real Estate State Exam.pdf file:///C:/Users/HP/Desktop/New%20fl/Texas%20Real%20Estate%20
Texas Real Estate State Exam
1. When was TREC created?
Answer 1947
2. TREC has the authority to..
Answer make rules and regulations. It's rules and lawsgovern license holders
3. TREC has how many commission members?
Answer 9 members, 3 represent thegeneral public and 6 are real estate brokers
4. TREC has the power to..
Answer subpoena books, records, and witnesses and issueand revoke real estate licenses
5. If your license is revoked byTREC...
Answer You can appeal the decision to the districtcourt
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6. Who writes promulgated contract forms?
Answer The Broker Lawyer Committee
7. 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 BarAssociation, and one is a public member appointed by the governor
8. 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 beheld in the county court.
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 moneyreceived.
9. 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, eitherlicensed or unlicensed. If TREC assesses a penalty, a license
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holder has 30 days topay the penalty.
10. Unlicensed assistant is only allowed to
Answer do clerical duties and greet at anopen house
11. If an unlicensed assistant does work requiring a license, the penalty is
Answer -
both realtor and assistant get fined
12. Real Estate RecoveryTrust Account
Answer It was created byTREC to pay aggrievedpersons 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.
13. If at any time in the calendar year the account balance is below $1,000,000the Real
Estate Recovery Trust Account can...
Answer the commission is authorized toassess 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
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necessaryto bring the balance to $1,700,000.TREC invests the fees that have been depositedwhen
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
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