TEXAS PROMULGATED CONTRACTS EXAM
STUDY GUIDE 2026 FULL SOLUTION VIEW
AHEAD QUESTIONS WITH ANSWERS
◉Are licensee prohibited from practicing law or give legal advice?.
Answer: false
◉Can Licensees disclose pertinent facts. Answer: true
◉unilateral mistake. Answer: is such an error that is held by only
one party and not shared by the other party.
◉On the other hand, if the other party was not aware of the mistake,
the contract can usually be. Answer: reformed (rewritten).
◉If the non-mistaken party knows that the other party has made a
unilateral mistake, the result is usually contract. Answer: rescission
(cancellation).
◉Broker-Lawyer Committee's purpose. Answer: is to DRAFT and
revise contracts and forms for use by licensees.
,◉Broker-Lawyer Committee is made up of _______ lawyers appointed
by the ______________________and ______ real estate brokers appointed by
_________________
There is also _____ public member who is appointed by the ______.
Answer: 6; president of the state bar of Texas; 6; tX RE Commission;
1; govenor
◉- What is an error in the meaning of words, laws, or facts which
causes one or both parties to enter into the contract without fully
understanding the outcomes or responsibilities implied by the
contract?. Answer: mistake
◉1-4 FAMILY RESIDENTIAL RESALE CONTRACT: what is detailed in
Paragraph 1 and 2 and 2D. Answer: Paragraph 1: Legal name
followed by comma with martial status
Paragraph 2: legal description
Paragraph 2D: Paragraph 2.D items that seller to keep and not sell
with the property
◉1-4 FAMILY RESIDENTIAL RESALE CONTRACT: what is detailed in
Paragraph 3A,B,C and 4 and5. Answer: 3A: down payment
, 3B: loan amount
3C: Sales price (total of 3A & 3B)
4: LICENSE HOLDER DISCLOSURE
5: EMD
◉1-4 FAMILY RESIDENTIAL RESALE CONTRACT: what is detailed in
Paragraph 6A,B,C(1-3),D,E(1-3). Answer: 6. TITLE POLICY AND
SURVEY
6A: who is paying for title policy
6.B discusses the title commitment
6.C.1 states that the owner will provide the survey and an affidavit
that the survey is correct.
6.C.2 states that the buyer will pay for a new survey.
6.C.3 states that the seller will pay for and furnish a new survey to
the buyer.
6.D gives the buyer the right to object to certain items but not others.
Paragraph 6.E.1 Abstract or Title Policy relates to the fact that the
broker must tell the buyer to have a title policy or if the buyer insists
on an abstract (history of title) that the abstract is examined by an
attorney.
6.E.2 HOA
6.E.3 discusses Statutory Tax Districts. Also known as Municipal
Utility Districts (MUD), these are water and sewer providers that are
not owned by the city
STUDY GUIDE 2026 FULL SOLUTION VIEW
AHEAD QUESTIONS WITH ANSWERS
◉Are licensee prohibited from practicing law or give legal advice?.
Answer: false
◉Can Licensees disclose pertinent facts. Answer: true
◉unilateral mistake. Answer: is such an error that is held by only
one party and not shared by the other party.
◉On the other hand, if the other party was not aware of the mistake,
the contract can usually be. Answer: reformed (rewritten).
◉If the non-mistaken party knows that the other party has made a
unilateral mistake, the result is usually contract. Answer: rescission
(cancellation).
◉Broker-Lawyer Committee's purpose. Answer: is to DRAFT and
revise contracts and forms for use by licensees.
,◉Broker-Lawyer Committee is made up of _______ lawyers appointed
by the ______________________and ______ real estate brokers appointed by
_________________
There is also _____ public member who is appointed by the ______.
Answer: 6; president of the state bar of Texas; 6; tX RE Commission;
1; govenor
◉- What is an error in the meaning of words, laws, or facts which
causes one or both parties to enter into the contract without fully
understanding the outcomes or responsibilities implied by the
contract?. Answer: mistake
◉1-4 FAMILY RESIDENTIAL RESALE CONTRACT: what is detailed in
Paragraph 1 and 2 and 2D. Answer: Paragraph 1: Legal name
followed by comma with martial status
Paragraph 2: legal description
Paragraph 2D: Paragraph 2.D items that seller to keep and not sell
with the property
◉1-4 FAMILY RESIDENTIAL RESALE CONTRACT: what is detailed in
Paragraph 3A,B,C and 4 and5. Answer: 3A: down payment
, 3B: loan amount
3C: Sales price (total of 3A & 3B)
4: LICENSE HOLDER DISCLOSURE
5: EMD
◉1-4 FAMILY RESIDENTIAL RESALE CONTRACT: what is detailed in
Paragraph 6A,B,C(1-3),D,E(1-3). Answer: 6. TITLE POLICY AND
SURVEY
6A: who is paying for title policy
6.B discusses the title commitment
6.C.1 states that the owner will provide the survey and an affidavit
that the survey is correct.
6.C.2 states that the buyer will pay for a new survey.
6.C.3 states that the seller will pay for and furnish a new survey to
the buyer.
6.D gives the buyer the right to object to certain items but not others.
Paragraph 6.E.1 Abstract or Title Policy relates to the fact that the
broker must tell the buyer to have a title policy or if the buyer insists
on an abstract (history of title) that the abstract is examined by an
attorney.
6.E.2 HOA
6.E.3 discusses Statutory Tax Districts. Also known as Municipal
Utility Districts (MUD), these are water and sewer providers that are
not owned by the city
