Final answer:
The liability of the real estate education research and recovery fund for the acts of a licensee is terminated upon reaching the liability limit.
Step-by-step explanation:
The liability of the real estate education research and recovery fund for the acts of a licensee is terminated upon the payments from the fund in an aggregate amount of the liability limit.
The liability limit is the maximum amount the fund will pay out for the acts of a licensee. Once the fund has paid out this limit, it is no longer liable for any further payments.
For example, if the liability limit of the fund is $50,000, and the fund has already paid out $50,000 for the acts of a licensee, it is no longer liable for any additional payments.