TEXAS PROMULGATED CONTRACTS EXAM ||VERIFIED EXAM!!|| MOST RECENT EXAM ACTUAL COMPLETE REAL EXAM QUESTIONS AND CORRECT ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+ | GUARANTEED SUCCESS!! NEWEST EXAM!!!

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TEXAS PROMULGATED CONTRACTS EXAM
||VERIFIED EXAM!!|| MOST RECENT EXAM ACTUAL
COMPLETE REAL EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED
A+ | GUARANTEED SUCCESS!! NEWEST EXAM!!!


An offer can be communicated by
___________________.


(a) Phone


(b) Hand delivery


(c) E-mail


(d) All of the above - Answer-D


The Third Party Financing Addendum For Credit Approval
is used when:


(a) The buyer is obtaining FHA financing

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(b) Paragraph 4.A(2)(a) is checked in the contract


(c) The buyer is obtaining VA financing


(d) The buyer is obtaining any kind of financing - Answer-D


In the Third Party Financing Addendum for Credit
Approval:


(a) The buyer has no incentive to obtain financial approval


(b) The buyer has a definite time to notify seller of the
inability to obtain financing approval


(c) The buyer's earnest money will not be returned if the
buyer does not obtain financing


(d) The option period is explained - Answer-B


The Third Party Financing Addendum for Credit Approval
cannot be used for:

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(a) VA guaranteed loans


(b) FHA insured loans


(c) Seller Financing


(d) Texas Veterans Loans - Answer-C


According to the Seller Financing Addendum, the interest
rate is:


(a) Set at 6%


(b) Negotiated between the parties


(c) Set by TREC


(d) Determined at closing - Answer-B

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___________________ occurs when a buyer assumes
and agrees to pay the seller's existing mortgage.


(a) Loan assumption


(b) Seller liability


(c) Seller lien


(d) Credit approval - Answer-A


Land, improvements and accessories are collectively
referred to as:


(a) The estate


(b) The property


(c) The listing


(d) The homestead - Answer-B