RealEstateU- Texas Promulgated Contract Forms Exam
Questions with 100% Correct Answers | Verified | Updated
(Actual Exam) 2026 LATEST VERSION!!
The execution of a contract by which the contracting parties are
automatically discharged of their obligations under it is known as...? -
(ANSWERS)Performance
Which of the following is an example of consideration? -
(ANSWERS)Money, personal services, cash
A State law requiring certain contracts to be in writing and signed before
they will be enforceable at law is known as the? - (ANSWERS)Statute of
Frauds
Which of the following is an example of a forbearance contract? -
(ANSWERS)Options contract
A valid contract must be ______ and enforceable? - (ANSWERS)Binding
Which of the following real estate contracts does not have to be in writing?
- (ANSWERS)Leases under one year
If one of the parties to a contract does not voluntarily agree to the contract,
this element of valid contract is violated? - (ANSWERS)Mutual agreement
To have no force or effect is referred to as a .......... Contract? -
(ANSWERS)Void
That which is capable of being adjusted void, but is not unless action is
, RealEstateU- Texas Promulgated Contract Forms Exam
Questions with 100% Correct Answers | Verified | Updated
(Actual Exam) 2026 LATEST VERSION!!
taken to make it so, is referred to as a/an ............ Contract? -
(ANSWERS)Voidable
In order to be considered a competent party, an individual must be of the
age of the? - (ANSWERS)Majority
A contract in which one of the parties is a minor is considered a -
(ANSWERS)Voidable contract
A contract in which there is fraud by either commission or omission is
voidable by the? - (ANSWERS)Non-fraudulent party
A contract in which each party promises to do something is referred to as a -
(ANSWERS)Bilateral contract
When one party promises to do something if the other party performs a
certain act, but the other party does not promise to perform it, it is referred
to as a? - (ANSWERS)Unilateral contract
An options contract is an example of a/an? - (ANSWERS)Unilateral
contract
Which of the following is an example of a bilateral contract? -
(ANSWERS)Listing contract, sales contract, and independent contractor
agreement
,RealEstateU- Texas Promulgated Contract Forms Exam
Questions with 100% Correct Answers | Verified | Updated
(Actual Exam) 2026 LATEST VERSION!!
What is an amendment? - (ANSWERS)A change in a legal document made
by adding, altering, or omitting a certain part or term
What is an addendum? - (ANSWERS)Additional pages of material that are
added to and become part of a contract
What is an assingment? - (ANSWERS)A transfer of benefits and
obligations within a contract to a 3rd party who is not originally a party to
the contract
What is novation? - (ANSWERS)The substitution or exchange of a new
obligation or contract for an old one by the mutual agreement of the parties
An assignment can occur when a contract is? - (ANSWERS)Executory
Which of the following may be used as an alternative to novation? -
(ANSWERS)Amend the existing contract
What is the Statue of Limitations? - (ANSWERS)A law establishing the
time period within which certain lawsuits may be brought
What is Breach of Contract? - (ANSWERS)A violation of any of the terms
or conditions of a contract without legal reason.
Which of the following is an example of a termination of a
contract...?Substantial performance - (ANSWERS)Substantial performance,
, RealEstateU- Texas Promulgated Contract Forms Exam
Questions with 100% Correct Answers | Verified | Updated
(Actual Exam) 2026 LATEST VERSION!!
Partial performance,
Impossibility of performance
The Texas Real Estate Commission was created in what year? -
(ANSWERS)1949
The Texas Real Estate Commission was created to administer which of the
following? - (ANSWERS)Texas Real Estate License Act
Which of the following is responsible for issuing real estate licenses in
Texas? - (ANSWERS)Texas Real Estate Commission
The Texas Real Estate Commission is responsible for regulating which of
the following? - (ANSWERS)Residential service companies, real estate
inspectors, real estate brokers
Which of the following describes how a contract becomes a promulgated
form? - (ANSWERS)Texas Real Estate License Act
Real estate professionals must use ______ of any promulgated forms? -
(ANSWERS)The most current version
According to TREC, a real estate licensee may not do which of the
following? - (ANSWERS)Practice law, give legal advice, discourage a
client from hiring a lawyer
Questions with 100% Correct Answers | Verified | Updated
(Actual Exam) 2026 LATEST VERSION!!
The execution of a contract by which the contracting parties are
automatically discharged of their obligations under it is known as...? -
(ANSWERS)Performance
Which of the following is an example of consideration? -
(ANSWERS)Money, personal services, cash
A State law requiring certain contracts to be in writing and signed before
they will be enforceable at law is known as the? - (ANSWERS)Statute of
Frauds
Which of the following is an example of a forbearance contract? -
(ANSWERS)Options contract
A valid contract must be ______ and enforceable? - (ANSWERS)Binding
Which of the following real estate contracts does not have to be in writing?
- (ANSWERS)Leases under one year
If one of the parties to a contract does not voluntarily agree to the contract,
this element of valid contract is violated? - (ANSWERS)Mutual agreement
To have no force or effect is referred to as a .......... Contract? -
(ANSWERS)Void
That which is capable of being adjusted void, but is not unless action is
, RealEstateU- Texas Promulgated Contract Forms Exam
Questions with 100% Correct Answers | Verified | Updated
(Actual Exam) 2026 LATEST VERSION!!
taken to make it so, is referred to as a/an ............ Contract? -
(ANSWERS)Voidable
In order to be considered a competent party, an individual must be of the
age of the? - (ANSWERS)Majority
A contract in which one of the parties is a minor is considered a -
(ANSWERS)Voidable contract
A contract in which there is fraud by either commission or omission is
voidable by the? - (ANSWERS)Non-fraudulent party
A contract in which each party promises to do something is referred to as a -
(ANSWERS)Bilateral contract
When one party promises to do something if the other party performs a
certain act, but the other party does not promise to perform it, it is referred
to as a? - (ANSWERS)Unilateral contract
An options contract is an example of a/an? - (ANSWERS)Unilateral
contract
Which of the following is an example of a bilateral contract? -
(ANSWERS)Listing contract, sales contract, and independent contractor
agreement
,RealEstateU- Texas Promulgated Contract Forms Exam
Questions with 100% Correct Answers | Verified | Updated
(Actual Exam) 2026 LATEST VERSION!!
What is an amendment? - (ANSWERS)A change in a legal document made
by adding, altering, or omitting a certain part or term
What is an addendum? - (ANSWERS)Additional pages of material that are
added to and become part of a contract
What is an assingment? - (ANSWERS)A transfer of benefits and
obligations within a contract to a 3rd party who is not originally a party to
the contract
What is novation? - (ANSWERS)The substitution or exchange of a new
obligation or contract for an old one by the mutual agreement of the parties
An assignment can occur when a contract is? - (ANSWERS)Executory
Which of the following may be used as an alternative to novation? -
(ANSWERS)Amend the existing contract
What is the Statue of Limitations? - (ANSWERS)A law establishing the
time period within which certain lawsuits may be brought
What is Breach of Contract? - (ANSWERS)A violation of any of the terms
or conditions of a contract without legal reason.
Which of the following is an example of a termination of a
contract...?Substantial performance - (ANSWERS)Substantial performance,
, RealEstateU- Texas Promulgated Contract Forms Exam
Questions with 100% Correct Answers | Verified | Updated
(Actual Exam) 2026 LATEST VERSION!!
Partial performance,
Impossibility of performance
The Texas Real Estate Commission was created in what year? -
(ANSWERS)1949
The Texas Real Estate Commission was created to administer which of the
following? - (ANSWERS)Texas Real Estate License Act
Which of the following is responsible for issuing real estate licenses in
Texas? - (ANSWERS)Texas Real Estate Commission
The Texas Real Estate Commission is responsible for regulating which of
the following? - (ANSWERS)Residential service companies, real estate
inspectors, real estate brokers
Which of the following describes how a contract becomes a promulgated
form? - (ANSWERS)Texas Real Estate License Act
Real estate professionals must use ______ of any promulgated forms? -
(ANSWERS)The most current version
According to TREC, a real estate licensee may not do which of the
following? - (ANSWERS)Practice law, give legal advice, discourage a
client from hiring a lawyer
