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


Texas Exam Topics Pie Chart


Monday's Key Points
Key Point's are important bullet points that relate to Texas state exam topic areas.

Commission Duties And Powers

The TREC enforces laws and regulations related to deceptive trade practices, fraud, and other consumer protection issues. TREC investigates complaints against licensees and takes appropriate disciplinary actions to safeguard the interests of buyers, sellers, and the general public.

Licensing

The commission may place on inactive status the license of a broker if the broker is not acting as a broker or if the broker is not sponsoring a sales agent.

Standards Of Conduct

Licensees must ensure that their advertising and marketing materials are accurate, truthful, and not misleading.

Agency / Brokerage

If direct communication does not resolve the dispute, the broker may choose to pursue mediation or arbitration as an alternative dispute resolution method.

Contracts

The seller of residential real estate is required to provide a completed Seller's Disclosure Notice to the prospective buyer and be filled out to the best of the seller's knowledge.

Special Topics

A "race-notice" recording system means that the first party to record a document will generally have priority over subsequent interests, provided they had no notice of prior unrecorded interests.

Monday's Questions



If construction work was started on a property that they owner didnt approve, when should they file a Notice of Non-Responsibility

A.) Within 3 days of the start of the work
B.) Within 10 days of the start of the work
C.) Within 30 days of the start of the work
D.) Within 1 year of knowledge of unauthorized work

Topic: Special topics




If construction work was started on a property that they owner didnt approve, when should they file a Notice of Non-Responsibility


Correct Answer:
Within 10 days of the start of the work


Remember:
A Notice of Non-Responsibility must be filed within ten days after the property owner has knowledge of unauthorized work.



Next Question →

If a compensation agreement was not fulfilled, how long does a broker generally have to file a lawsuit for breach of the agreement

A.) One year
B.) Two years
C.) Three years
D.) Four years

Topic: Agency / Brokerage


If a compensation agreement was not fulfilled, how long does a broker generally have to file a lawsuit for breach of the agreement


Correct Answer:
Four years


Remember:
If a compensation agreement was made in writing or orally in Texas, the broker has four years to file a lawsuit.



Next Question →

What is the primary source of funding for the Real Estate Recovery Trust Account

A.) Contributions from state legislature
B.) Government grants
C.) Contributions from licensees
D.) Recovered funds from license holders

Topic: Commission duties and powers


What is the primary source of funding for the Real Estate Recovery Trust Account


Correct Answer:
Contributions from licensees


Remember:
Licensed real estate brokers and salespersons contribute fees to fund the RTA.



Next Question →

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We Strongly Believe That Passing The Texas State Exam Involves Two Key Areas:
· Understanding The Topics On The State Exam
· Recognizing These Topics In The Questions

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