CHAMPIONS PROMULGATED CONTRACT
FORMS CERTIFICATION EVALUATION TEST
2026 QUESTIONS AND ANSWERS GRADED
A+
●● What does COLIC stand for?.
Answer: competent parties, Offer and Acceptance, Legal Purpose, In
writing, Consideration
●● Earnest money is or is not one of the requirements of a valid
contract?.
Answer: Is not
●● What type of contract is from the effective date through closing?.
Answer: Executory contract
●● As a transaction progresses, ____ to the original contract may be
needed..
Answer: Amendments
●● Changes to the closing date, changes to the sales price, repairs, and
removal of contingencies are all examples of what?.
Answer: Common amendments
, ●● If there is a provision in a contract and a provision in an addendum..
which one prevails?.
Answer: Addendum
●● What type of contract is not assignable?.
Answer: Buyer's representation agreement
●● Cannot be enforced against one or more of the parties.
Answer: Voidable contract
●● What committee was created to draft and revise contract forms
capable of standardizations for use by real estate license holders?.
Answer: The Texas Real Estate Broker-Lawyer Committee
●● Who may use forms prepared and approved by a licensed Texas
attorney for the particular transaction involved?.
Answer: License holders
●● Who can suspend or revoke a license on proof that the license holder
drew a deed, note, deed of trust, will, or other written instrument that
transferred or affected the title to or an interest in land?.
Answer: TREC
FORMS CERTIFICATION EVALUATION TEST
2026 QUESTIONS AND ANSWERS GRADED
A+
●● What does COLIC stand for?.
Answer: competent parties, Offer and Acceptance, Legal Purpose, In
writing, Consideration
●● Earnest money is or is not one of the requirements of a valid
contract?.
Answer: Is not
●● What type of contract is from the effective date through closing?.
Answer: Executory contract
●● As a transaction progresses, ____ to the original contract may be
needed..
Answer: Amendments
●● Changes to the closing date, changes to the sales price, repairs, and
removal of contingencies are all examples of what?.
Answer: Common amendments
, ●● If there is a provision in a contract and a provision in an addendum..
which one prevails?.
Answer: Addendum
●● What type of contract is not assignable?.
Answer: Buyer's representation agreement
●● Cannot be enforced against one or more of the parties.
Answer: Voidable contract
●● What committee was created to draft and revise contract forms
capable of standardizations for use by real estate license holders?.
Answer: The Texas Real Estate Broker-Lawyer Committee
●● Who may use forms prepared and approved by a licensed Texas
attorney for the particular transaction involved?.
Answer: License holders
●● Who can suspend or revoke a license on proof that the license holder
drew a deed, note, deed of trust, will, or other written instrument that
transferred or affected the title to or an interest in land?.
Answer: TREC
