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The Key To Passing The Texas Real Estate Exam Is Understanding The Topic Areas


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Monday's Key Points
Key Points are important bulletpoints that relate to state exam topics.

Commission Duties And Powers

TREC can take action against licensees who engage in unethical or fraudulent practices, aiming to safeguard the interests of buyers, sellers, and the general public.

Licensing

Once an applicant has completed the required pre-licensing education they can submit their license application to TREC along with the required fee.

Standards Of Conduct

An unexplained overage is defined as funds in a brokers trust account which exceed the aggregate trust fund liability and the broker is unable to determine the ownership of the excess funds.

Agency / Brokerage

The designated supervisor may be a licensed broker or sales agent. If the designated supervisor is not a broker, that person must provide TREC with written verification of the designation.

Contracts

If the seller fails to provide the SDN, the buyer may have the right to terminate the contract or seek damages for any losses suffered as a result of the failure to disclose.

Special Topics

In a rural area, a homestead is limited to 100 acres for a family or 200 acres for property that is primarily used for agricultural or timber production.

Monday's Questions

When must applicants meet all license requirements after completing their application with TREC


A.) 6 months
B.) 1 year
C.) 2 years
D.) 5 years


A
B
C
D

Licensing




When must applicants meet all license requirements after completing their application with TREC


Correct Answer:
1 year

Applicants have one year from the date their application is filed to meet all license requirements.



Next Question →

If a real estate broker wanted to start using a fictitious business name in Texas, what must the broker do


A.) Notify TREC within 3 days of filing with the county clerk
B.) Notify TREC within 7 days of filing with the county clerk
C.) Notify TREC within 10 days of filing with the county clerk
D.) Register the fictitious business name with the state government


A
B
C
D

Licensing




If a real estate broker wanted to start using a fictitious business name in Texas, what must the broker do


Correct Answer:
Notify TREC within 10 days of filing with the county clerk

A broker using a fictitious business name must register it with TREC within 10 days of filing with the county clerk.



Next Question →

What is the purpose of mediation in resolving disputes related to compensation agreements


A.) To make a binding decision with the help of a neutral third party
B.) To escalate the dispute to a county judge where the property is located
C.) To facilitate a resolution with the help of a neutral third party
D.) To come to a binding decision through quite thought and reflection


A
B
C
D

Agency / Brokerage




What is the purpose of mediation in resolving disputes related to compensation agreements


Correct Answer:
To facilitate a resolution with the help of a neutral third party

Mediation involves a neutral third party who assists in facilitating a resolution between the parties.



Next Question →

Great Job!!!

There are two sides to the state exam:
Knowing the topics
Answering the questions


Our Salesperson Specific Exams will reinforce topics by utilizing over 2,000 questions & our Broker Specific Exams feature over 3,000 questions!

Crash Courses: Designed to help you understand the topics on the state exam.

Practice Exams: Reinforce topics and make it easier to recognize them in questions.



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