Free TREC Education Questions and Answers

Question 1

Which of the following TREC forms does not include the phrase, "time is of the essence"?

Accepted Answer

The Notice Regarding Coastal Area Property

Answer

The Short Sale Addendum

Answer

The Third Party Financing Addendum

Answer

The 1-4 Family Resale Contract

Question 2

A sales agent is hired to list the property of a deceased party who died testate. The license holder must:

Accepted Answer

obtain the signature of the executor named in the will

Answer

determine if the deceased committed suicide

Answer

determine if the deceased had an administrator

Answer

obtain the signatures of all heirs

Question 3

TREC can investigate the actions of a license holder at its own motion. Under what other circumstances can TREC investigate a license holder?

Accepted Answer

If they have a written, signed complaint no more than 4 years old

Answer

If they have a written complaint no more than 5 years old

Answer

If they have an oral complaint no more than 4 years old

Answer

If they have a substantiated complaint

Question 4

Which of the following about TREC is FALSE?

Accepted Answer

6 TREC members are public and 3 TREC members are brokers

Answer

TREC has 9 members

Answer

TREC has subpoena power

Answer

TREC can advise with reference to its rules and the laws that govern license holders

Question 5

What is the criminal penalty for engaging in the real estate brokerage business in Texas without first becoming licensed by TREC?

Accepted Answer

A fine of not more than $4,000

Answer

A fine of up to $5,000 per day

Answer

Triple damages

Answer

Imprisonment for up to 2 years