Licensing

To obtain a Texas real estate sales agent license, applicants must complete 120 hours of prelicense education and 60 hours of postlicense education during the two-year initial license period 90 hours of real estate principles and 90 hours of law, finance and agency 60 hours of real estate principles and 120 hours of finance, law, contract forms and agency 90 hours of prelicense education and 90 hours of postlicense education during the two-year initial license period

60 hours of real estate principles and 120 hours of finance, law, contract forms and agency

All of the following are exempt from real estate licensure except one. Which one is not exempt? A city mayor who operates a rental agency An onsite manager of an apartment complex A Texas attorney A party acting under the auspices of the court

A city mayor who operates a rental agency

Which of the following best defines a broker? A Texas resident who performs brokerage activities for compensation A person who performs brokerage activities for others for compensation A residential licensee who manages salespeople A licensee who sells his/her own property

A person who performs brokerage activities for others for compensation

Which of the following parties does have to have a license to operate legally? A family member who sells a house she just inherited from her father MLS services who provide listing services but do not get paid for resulting transactions An employee of Burger King who assists in the purchase of a site for his company. A person who shows his licensed brother's listings to neighbors in the immediate neighborhood

A person who shows his licensed brother's listings to neighbors in the immediate neighborhood

Which of the following best defines a 'designated broker?' A dual agent in a brokerage A licensee who has successfully passed his or her required Realtor® designation curriculum. A non-officer of a licensed corporation named to conduct real estate activities on its behalf. An active Texas broker designated by a licensed business entity to act on its behalf.

An active Texas broker designated by a licensed business entity to act on its behalf.

Which of the following is true regarding the education requirements for the broker's license? Applicants must complete 270 hours of postsecondary education. Applicants must complete 900 hours of postsecondary education including 630 hours of core real estate courses or their approved equivalent. Applicants must complete 630 hours of postsecondary education. Applicants with a bachelor's degree or more are deemed exempt from the core 270 hour requirement.

Applicants must complete 900 hours of postsecondary education including 630 hours of core real estate courses or their approved equivalent.

Which of the following is true regarding license requirements? Nonresident license applicants must meet special out-of-state education requirements in Texas law. Nonresident applicants must agree to forfeit any non-Texas real estate license. Applicants who have met all requirements will receive an inactive license. Successful license applicants will be issued an active license, which is sent to the applicant's sponsoring broker.

Applicants who have met all requirements will receive an inactive license.

Which of the following statements is true regarding license renewals? Licenses must be renewed every three years. TREC distributes a notice to renew three months prior to expiration. Timely applications must be received no later than 30 days following expiration. All licenses expire on December 31st of even years.

TREC distributes a notice to renew three months prior to expiration.

Maureen, owner of DuPont Realty, opens a new branch office in a neighboring town. Which of the following is true regarding this office and licensing? The branch does not require its own license. The branch must have its own license. Maureen must obtain a multi-office license for her firm. Maureen's home office license must include the branch's address.

The branch must have its own license.

Which of the following are causes for the deactivation of a business entity license? The entity fails to complete a transaction in a twelve-month period. The designated broker is promoted to president of the corporation. The entity elects to deactivate. The business obtains E&O insurance.

The entity elects to deactivate.

Licenses can become inactive for many reasons, three of which are listed below. Which statement does NOT trigger an inactive license? The sponsoring broker moves to a different state. The state changes the education requirement for licensees. The brokerage goes bankrupt. The licensee applies for inactive status.

The state changes the education requirement for licensees.

A licensee misses the deadline for license renewal. In this case, the licensee must retake the license examination and pay late fees. must go inactive for a minimum of 90 days. must pay a deferral fee and complete any CE requirement within 60 days. must re-submit an initial licensure application including background checks.

must pay a deferral fee and complete any CE requirement within 60 days.

TREC may waive a broker's education and experience requirements if the applicant earned a masters degree in real estate. the applicant was an active sales agent for four of the previous five years preceding the application. the applicant was a licensed attorney for two of the prior four years. the applicant was a broker for the prior two years; completed the CE requirement; and was active for two of the prior four years.

the applicant was a broker for the prior two years; completed the CE requirement; and was active for two of the prior four years.

Which of the following is true regarding the maintenance of one's license status? A sponsoring broker has to notify TREC of a sales agent firing within one week of the occurrence. To reactivate a sales agent license, licensees must complete a 3-hour legal update course. Deactivating brokers must give sponsored sales agents a 30-day advance notice from the date of the application. To reactivate a broker license, the broker must satisfy all CE requirements and take a 3-hour ethics update course.

Deactivating brokers must give sponsored sales agents a 30-day advance notice from the date of the application.

Which of the following is true regarding the renewal of an expired license? The license period for the renewed license begins the day the late renewal application was received. Renewing applicants do not lose active status if they properly renew within 90 days. Expired licenses automatically become inactive. With a proper application, late renewers filing within 60 days of expiration will not lose active status if sponsored throughout period between expiration and new license issuance

With a proper application, late renewers filing within 60 days of expiration will not lose active status if sponsored throughout period between expiration and new license issuance

William has been named designated broker for the partnership he works with. For this to be acceptable, William must be an employee of the partnership. be an actively licensed sales agent or broker. be a general partner of the firm. must have been affiliated with the firm for a minimum period of 12 months.

be a general partner of the firm.