CHAMPIONS PROMULGATED CONTRACT FORMS COMPREHENSIVE CERTIFICATION PAPER 2026 QUESTIONS AND ANSWERS GRADED A+

CHAMPIONS PROMULGATED CONTRACT
FORMS COMPREHENSIVE CERTIFICATION
PAPER 2026 QUESTIONS AND ANSWERS
GRADED A+

●● A(n) _________________ property is one where a particular event
has affected the desirability of said property.


a. Undesirable
b. Stigmatized
c. Unsellable
d. Foreclosed.
Answer: b. Stigmatized (ex: murder or haunting)


●● A(n) _________________ occurs when a buyers assumes and agrees
to pay the seller's existing mortgage.


a. Loan assumption
b. Seller liability
c. Seller lien
d. Credit approval.
Answer: a. Loan assumption

,●● A building or community must not discriminate based on familial
status, unless it qualifies as housing for older persons.


a. True
b. False.
Answer: a. True


●● The buyer may terminate the contract and receive a refund of earnest
money if lender required repairs:


a. Seem really high
b. Exceed 5% of the Sales Price
c. Exceed 3% of the Sales Price
d. Exceed $10,000.
Answer: b. Exceed 5% of the Sales Price


●● 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. Negotiated between the parties


●● All written notices between the parties are effective when:


a. Mailed
b. Hand-delivered
c. Faxed or emailed
d. Any of these are correct.
Answer: d. Any of these are correct


●● _________________ collectively refers to land, improvements and
accessories.


a. The estate
b. The property
c. The listing
d. The homestead.
Answer: b. The property


●● The commission agreement between the broker and the seller is
usually found in the:


a. Sales contract