Texas Real Estate Exam; STATE portion.pdf file:///C:/Users/HP/Desktop/New%20fl/Texas%20Real%20Estate%2
Texas Real Estate Exam; STATE portion
1. How many members in TREC?
Answer 9;3 general public, 6 brokers
2. Who appoints, confirms TREC members?
Answer Governor appoints, senate ap-proves
3. How many members on the Broker-Lawyer Committee?
Answer 13;6 brokers, 6lawyers, 1 public member
4. Who appoints Broker-Lawyer committee members?
Answer Brokers/TREC,Lawyers/Pres of State Bar, Public Member/Governor
5. Where is the Real Estate Advisory Committee?
Answer Texas A & M
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,Texas Real Estate Exam; STATE portion.pdf file:///C:/Users/HP/Desktop/New%20fl/Texas%20Real%20Estate%2
6. Who is on the Real Estate Advisory Committee?
Answer 10 members 6 brokers, 3public members, 1 ex TREC officio
7. How long does an individual have after an incident to file a complaint againsta license
holder?
Answer 4 years
8. If your license is revoked by TREC, you may.....
Answer appeal to the district court
9. Brokerage without a license is defined as a
Answer Class A Misdemeanor
10. Penalties for Brokerage without a license
Answer Fine up to $4,000; imprisonmentin county jail for not more than 1 year, or both
11. Additional penalties for brokerage without a license
Answer Civil penalties of up tothree times the amount of money received
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12. The Real Estate Recovery Account was created to
Answer pay aggrieved personswho suffered monetary losses due to unscrupulous acts of
license holders.
13. If Real Estate Recovery Trust Account is below $1 million
Answer Brokers andlicensees pay a pro rata share of $10 upon license renewal
14. If Real Estate Recovery Trust Account is above $3.5 million,
Answer the excessgoes into the State's General Fund
15. When an amount if paid out of the Real Estate Recovery Trust Account onbehalf of a
license holder,
Answer the license of the person can be suspended or revoked.It may never be recovered until the
account is paid back with interest.
16. Maximum amount payable by the Real Estate Recovery Trust Account
Answer is
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