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Real Estate Salesperson Exam — National Portion

Recovery (TX): practice questions

Our Real Estate (National) bank has 4 questions on this topic. Here are 3 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Texas

Who pays into the Texas Real Estate Recovery Trust Account?

  1. The federal government, through HUD grants
  2. Lenders
  3. License holders, through fees
  4. Buyers at closing
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C. License holders, through fees — Claims are paid only after a court judgment can't be collected.

Question 2 · Texas

What is the maximum the Texas Real Estate Recovery Trust Account will pay per transaction?

  1. $125,000
  2. $1 million
  3. There is no limit
  4. $25,000
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A. $125,000 — There is a $250,000 maximum per license holder; SB 1577 (2023) raised these from $50,000 and $100,000.

Question 3 · Texas

What does the Texas Real Estate Recovery Trust Account do?

  1. Pays sales agents' commissions when their sponsoring brokers refuse to pay them after a closing in Texas
  2. Insures homes against storm damage
  3. Lends money to buyers for down payments
  4. Pays people harmed by a license holder's violations when a judgment can't be collected, up to limits
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D. Pays people harmed by a license holder's violations when a judgment can't be collected, up to limits — It is funded by license fees.

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