Commission Duties and Powers
What is the maximum payment amount for a claim from the Recovery Trust Account for a single transaction?
$50,000 (Trust account payments for a single transaction must not exceed $50,000.)
The Recovery Trust Account should maintain a balance of at least what amount?
$1.7 million
The Education Standards Advisory Committee is comprised of ______ members.
12 (The Education Standards Advisory Committee consists of 12 members, broken down as follows: seven active licensees, four education members, and one public member.)
TREC will issue a notice of violation to anyone it feels has violated the law by performing a prohibited activity. If an accused violator completely disagrees with TREC, that person has the right to request a hearing within how many days?
20 days
The seven members of the ESAC committee who are real estate professionals must have been actively engaged in the practice of real estate for at least ______ years before appointment.
Five
For how many years following an incident does TREC allow a person to file a complaint against a license holder?
Four years
The ESAC does which of the following?
Makes recommendations for improvements to real estate education (The ESAC makes recommendations for improvements to real estate education to the Real Estate Commission, which implements them.)
Which of the following is the duty of the State Office of Administrative Hearings at a hearing of an alleged violator?
Making findings of fact and conclusions of law
How many members of the general public must be on the ESAC committee?
One
In addition to its power to impose stiff administrative penalties, TREC also has the authority to ______.
Revoke or suspend an agent's or broker's license
Which of the following is a responsibility of the Texas Real Estate Commission, as provided in the Texas Real Estate License Act?
Rulemaking authority for real estate licensees that has the full force and effect of the law
In order to qualify as one of the ______ real estate professional members of the ESAC, you must have been actively engaged in the practice of real estate for five years prior to appointment.
Seven (The seven members of the committee who are real estate professionals must have been actively engaged in the practice of real estate for at least five years before appointment.)
Sofia is thinking of become a real estate professional. Which of the following is a true statement?
She will be directly affected by the work of the ESAC through course curriculum, content, and licensing requirements.
How long is a member of TREC's term?
Six years
What agency is charged with ensuring the balance of the Recovery Trust Account is maintained at $1.7 million or higher?
TREC
Which of the following parties has the authority to file a complaint or conduct an investigation into a complaint about a real estate licensee in Texas?
TREC
Which of the following entities promulgates forms for Texas licensees?
TREC (TREC promulgates the forms drafted by the Broker-Lawyer Committee.)
Which of the following entities promulgates forms for Texas licensees?
TREC (NOT the broker-lawyer committee) (TREC promulgates the forms drafted by the Broker-Lawyer Committee.)
Considering TREC's authority under the laws of TRELA, which of the following statements is true?
TREC has the authority to suspend or revoke any license holder's license
After a complaint is filed, and an investigation of a possible violation and related facts is conducted, if the Standards and Enforcement Division of TREC determines that a violation has occurred, it may issue a notice of violation to the alleged violator. Which of the following must be included in this notice?
TREC's recommendation regarding imposition of an administrative penalty or another disciplinary sanction
Before being amended and renamed as the Texas Real Estate License Act, what was the name of the act that regulated licensed real estate activity?
The Real Estate Dealers Act
TREC is made up of nine members, all of whom are appointed by the governor, with the advice, consent, and approval of ______.
The Senate (The Senate must give advice and consent to the commissioners appointed by the governor.)
The ESAC makes recommendations for improvements to real estate education to ______, which implements them.
The Texas Real Estate Commission
Vanessa has had her Texas real estate broker's license for 12 years. What law stipulates the requirements Vanessa must follow to keep her license?
The Texas Real Estate License Act
If TREC denies a license, it must immediately provide written notice of the denial to the applicant, explaining that ______.
The applicant is entitled to a hearing about the denial
The commission must maintain a file on each complaint that it receives. Each complaint must contain certain information, including ______.
The subject matter of the complaint
An unlicensed person who practices real estate in Texas is guilty of committing a Class A misdemeanor with a fine of up to $4,000 and faces a TREC administrative penalty of up to $5,000 per violation. The violator is also liable to the state for a civil penalty of a maximum of more than ______ times more than the amount of compensation received from that unlicensed activity.
Three
What is the purpose of the Texas Real Estate License Act?
To protect the public
When members of the Education Standards Advisory Committee are appointed, how many years do they serve?
Two
TREC has a great deal of authority. In addition to enforcing the provisions of TRELA, TREC also has the authority to ______.
Bring legal action and file criminal charges against a person who violated TRELA
TREC must notify consumers of their right to file a complaint against a licensed sales agent, broker, or certificate holder by which of the following means?
By displaying it in a readily noticable location in each place of business the broker maintains
A broker may not pay a commission or other compensation, directly or indirectly, to someone performing an act for which a license is required, unless that person is what?
A license holder in Texas or a licensed broker in another state
TREC does NOT have the right to do which of the following?
Prohibit a license holder from using a contract that has been drafted by the property owner's attorney.
George is a member of the Texas Education Standards Advisory Committee (ESAC) and is currently reviewing a real estate program that administers courses of study to post-licensing students. The committee has received several complaints that these courses are of poor quality. What authority does the review committee have in these cases?
Recommend that TREC suspend the program and those that administer the courses of study
Which authority is responsible for providing promulgated contract forms and enforcing license law in Texas?
Texas Real Estate Commission
The Texas Broker-Lawyer Committee contains different types of members appointed by different parties. How many lawyers
Zero
The Texas Broker-Lawyer Committee contains different types of members appointed by different parties. How many lawyers does the governor appoint to this committee?
Zero (The governor appoints one member, and that person is a member of the public. The lawyers are appointed by the president of the Texas Bar Association.)
