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(TREC) Texas Real Estate Commission
Free TREC Education Questions and Answers
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What is the criminal penalty for engaging in the real estate brokerage business in Texas without first becoming licensed by TREC?
A fine of up to $5,000 per day
Triple damages
A fine of not more than $4,000
Imprisonment for up to 2 years
Correct!
Wrong!
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A sales agent is hired to list the property of a deceased party who died testate. The license holder must:
determine if the deceased committed suicide
determine if the deceased had an administrator
obtain the signatures of all heirs
obtain the signature of the executor named in the will
Correct!
Wrong!
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TREC can investigate the actions of a license holder at its own motion. Under what other circumstances can TREC investigate a license holder?
If they have a written complaint no more than 5 years old
If they have an oral complaint no more than 4 years old
If they have a written, signed complaint no more than 4 years old
If they have a substantiated complaint
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Wrong!
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Which of the following about TREC is FALSE?
TREC has 9 members
6 TREC members are public and 3 TREC members are brokers
TREC has subpoena power
TREC can advise with reference to its rules and the laws that govern license holders
Correct!
Wrong!
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Which of the following TREC forms does not include the phrase, "time is of the essence"?
The Short Sale Addendum
The Third Party Financing Addendum
The 1-4 Family Resale Contract
The Notice Regarding Coastal Area Property
Correct!
Wrong!
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