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STATE EXAMM!!!!!!!!!

Authored by gio_stayy_litt gio_stayy_litt

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STATE EXAMM!!!!!!!!!
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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of the Texas Real Estate Commission (TREC)?

To regulate real estate agents and brokers

To set property values

To approve home loans

To enforce building codes

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many members serve on the Texas Real Estate Commission (TREC)?

9

11

7

15

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the minimum age requirement to obtain a Texas real estate license?

16

18

21

25

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is required for a Texas broker to legally operate?

A surety bond

A valid Texas broker’s license

A bachelor’s degree

A minimum of 100 transactions per year

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How often must Texas real estate licenses be renewed?

Annually

Every two years

Every five years

Every ten years

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the required amount for the Texas Real Estate Recovery Trust Account balance?

$500,000

$1,000,000

$1,700,000

$3,000,000

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If the Texas Real Estate Recovery Trust Account balance falls below the required amount, how is it replenished?

By increasing license renewal fees

By state taxes

By fines paid by buyers

By a special assessment on property transactions

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