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RE Exam Study - Numbers and Dates Flashcards | StudBud
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RE Exam Study - Numbers and Dates
RE Exam Study - Numbers and Dates
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Answers
1
How many members of the ESAC committee are real estate professionals?
7
5
3
10
2
TREC is made up of ____ members, all of whom are appointed by the Governor, with approval of the State Senate.
13
12
6
9
3
When members of the Education Standards Advisory Committee are appointed, how many years do they serve?
3
2
6
5
4
TREC is made up of ____ members
9
12
3
6
5
Broker applicants in Texas must have how much experience as an active license holder in the previous five years?
5 years
4 years
2 years
3 years
6
Once buyers submit their loan application, they must be given their Loan Estimate within ___ after submitting their app
1 week
2 business days
5 business days
3 business days
7
The commission can impose up to a maximum of how much per violation of TRELA?
$2,500
$5,000
$7,500
$2,000
8
How many members of the ESAC committee are public, non-licensee members
1
2
4
5
9
The broker-lawyer committee has ___ members, who serve six-year, staggered terms.
9
12
13
6
10
How long is a license valid in the state of Texas?
12 months
24 months
36 months
18 months
11
Over how many years is a residential income-producing property depreciated?
39 years
29 years
40 years
27.5 years
12
If a sales agent doesn’t complete their continuing education prior to renewal, they can defer completion for 60 days.
True
False
13
In Texas, a party to a contract has ______ from a contract breach to sue the other party.
4 years
4 weeks
30 years
30 days
14
How many days does a broker have to notify TREC if their business address has changed?
7 days
20 days
30 days
10 days
15
The EPA recommends mitigation if radon levels exceed ______ picocuries.
7
2
4
5
16
What is the term length for a member of the Texas Real Estate Commission?
6 years
3 years
No expiration, but members must be reappointed annually
2 years
17
There are 12 members of the Education Standards Advisory Committee.
True
False
18
Leo wants to give a written termination notice to his month-to-month tenant. How much notice must he give the tenant?
3 weeks
2 weeks
1 week
1 month
19
How many lawyers does the governor appoint to the Broker-Lawyer Committee?
4
1
0
6
20
The Recovery Trust Account should maintain a balance of at least what amount?
$2.3 million
$500,000
$1 million
$1.7 million
21
For how many years following an incident does TREC allow a person to file a complaint against a license holder?
1 yr
5 yrs
3 yrs
4 yrs
22
Guy just signed an offer to buy. The contingency period on his contract begins __ day(s) after the day it is executed.
7
1
3
2
23
The Texas law allows for 3 individuals per bedroom, whereas the federal standard allows for 2 individuals.
True
False
