Summary TEXAS REAL ESTATE

The Application Process In addition to the previous requirements, you must successfully complete the following courses: ■ Principles of Real Estate core real estate course (60 classroom hours) ■ Laws of Agency core real estate course (30 classroom hours) ■ Laws of Contracts core real estate course (30 classroom hours) ■ An additional core real estate course (30 classroom hours) ■ An additional four semesters (60 classroom hours) of core courses or of related courses accepted by TREC There’s one more requirement. After you complete your education, you are responsible for obtaining a let- ter from TREC verifying you have completed your education. To achieve this, you must request that TREC eval- uate your education documents. You can download a “Request for Evaluation of Education Documents” from Only after satisfying all of these requirements can you complete your application. You can obtain an appli- cation at or by calling TREC at . The total fee is $79.50; that’s $69.50 for an orig- inal application, and an additional $10.00 for the Recovery Fund. When TREC receives your application, it will be processed and hopefully accepted. Within 48 hours of that time, TREC will send you a Candidate Informa- tion Brochure (CIB) with your identification number. You will need this number before you can take the test. The CIB provides detailed information about test-taking procedures. You can also download a sample CIB from . } The Sales Exam Once you have applied to TREC, you must pass the exam within six months of the date your application was filed. There are two parts of the exam, the national portion and the Texas portion. You must pass both parts of the exam, Important Contact Information For information about licensing, contact: For information about the exam, contact: Texas Real Estate Commission (TREC) P.O. Box 12188 Austin, TX Psychological Services, Inc. (PSI) Examination Ser- vices 100 W. Broadway, Suite 1100 Glendale, CA 91210 Fax: 818-247-3853 Real Estate U Final Exam Questions And Answers 2022/2023 2 Real Estate U Final Exam Questions And Answers 2022/2023 1 Complete examination (National and Texas) $59 but there is no limit to the number of times you can take either or both parts of the exam within the six months. For example, if you pass the national portion, but not the Texas portion, you can take the Texas portion of the exam over again. If you fail to pass both parts within the given timeframe, you will have to reapply with TREC and repeat the application and examination process. EXAM FEES National portion $59 TREC has hired PSI Examination Services to develop and administer the Texas Real Estate Salesperson Exam. Any questions about the exam should be directed to PSI. Remember, the exam is given on computer, but you will be shown how to use the computer to complete your exam. Exam Content The real estate sales exam is divided into two sections. Part 1 covers Real Estate Principles and Practices and Part 2 covers Texas Real Estate. There are 80 questions in Part 1, and 30 questions in Part 2. You will have 150 min- utes (2—2— hours) to co mplete all 110 questions. If you take the par ts separately, you w ill have 105 minutes (1 hour, 45 minutes) to complete the 80 national questions, and you will have 45 minutes to complete the 30 state ques- tions. To pass, you must answer at least 56 (out of 80) questions correctly on the national portion, and at least 21 (out of 30) questions correctly on the Texas portion. That means you can miss 24 national questions and 9 state questions. Texas Real Estate Sales Exam at a Glance Number of Questions Time Limit Passing Score National Portion 80 105 minutes 56 Texas Portion 30 45 minutes 21 Texas portion $59 Note You do not need to have a sponsoring broker in order to apply for a salesperson license. Without a spon- soring broker, you will receive an “inactive” license, which means you will not be able to practice until you have a sponsoring broker. You will only receive an “active” license when you have secured sponsorship. Real Estate U Final Exam Questions And Answers 2022/2023 3 Real Estate U Final Exam Questions And Answers 2022/2023 THE TEXAS REAL ESTATE SALES EXAM The exam tests both your knowledge and your ability to apply that knowledge. To be well prepared to answer the questions on the exam, you will need to be thoroughly familiar with real estate concepts, the terminology of real estate, and basic math calculations. Here is an outline of the topics covered on the exam: NATIONAL PORTION CONTENT OUTLINE—80 QUESTIONS Real Estate Principles and Practices Property Ownership—7 questions Classes of Property Land Characteristics Encumbrances Types of Ownership Property Descriptions Land Use Controls and Regulations— 7 questions Government Rights in Land Public Controls Based in Police Power Private Controls Valuation and Market Analysis—7 questions Value Methods of Estimating Value (Applicability, Key Elements) Competitive Market Analysis Transactions Requiring Formal Appraisal Financing—8 questions General Concepts Types of Loans Sources Government Programs Mortgages/Deeds of Trust Financing/Credit Laws Laws of Agency—10 questions Law, Definition, and Nature of Agency Relationships Common Types of Agency Agreements in Real Estate Agency Duties Disclosure of Agency (General) Commission and Fees Mandated Disclosures—6 questions Property Condition Disclosure Forms Need for Inspection and Obtaining/Verifying Information Material Facts Contracts—10 questions General Knowledge of Contract Law Offers/Purchase Agreements Counteroffers/Multiple Counteroffers Leases as Contracts Rescission and Cancellation Agreements/Other Contract Terminations Transfer