TREC makes a payment from the recovery fund to sat...

Texas Real Estate Practice Exam Latest Update And Verified

TREC makes a payment from the recovery fund to satisfy a judgment against a licensee. Which of the following applies?

TREC may revoke the licensee's license until he or she makes a complete re-payment with interest.

TREC must make a one-time increase in fees to licensees to recoup the deficit caused by the payment.

The licensees license is canceled for three years.

The licensee must refund the recovery account within 90 days or have his or her license revoked.

✔ Correct Answer:

TREC may revoke the licensee's license until he or she makes a complete re-payment with interest.