AYPO Real Estate Promulgated contracts UPDATED
ACTUAL Questions and CORRECT Answers
"Psychological stigmas," which involve violent or c. Permitted disclosures
catastrophic events on a property, fall under which
category of disclosure?
a. Required disclosures
b. Prohibited disclosures
c. Permitted disclosures
d. None of these
If there is a field in a promulgated form for which you b. Place "N/A" (not applicable) so it is clear that the buyer/buyer's agent is aware
have no information to include, your safest option is that the section exists and was not just overlooked
which of the following?
a. Run a line through it
b. Place "N/A" (not applicable) so it is clear that the
buyer/buyer's agent is aware that the section exists and
was not just overlooked
c. Any of these
d. Just leave it blank
,Which of these is an exemption to the "legal capacity" a. A contract for a life necessity
requirement to form a contract?
a. A contract for a life necessity
b. The other party had no knowledge of the party's lack
of legal capacity
c. Both of these are correct
d. Neither of these are correct
An amendment must always include reference to all of a. The title report
these, except:
a. The title report
b. The original contract
c. Parties
d. Date of ratification
What category of disclosure do "psychological stigmas" c. Permitted
fall into in Texas?
a. Prohibited
b. Required
c. Permitted
d. None of these
Promulgated contracts for TRELA generally are d. The Broker-Lawyer Committee
developed by which of the following?
a. TREC
b. National Association of Realtors
c. Texas Bar Association
d. The Broker-Lawyer Committee
If the seller has misled or misrepresented something, the d. Does not release them from those promises
signature at closing:
a. Terminates any obligation to the buyer
b. Neither of these
c. Either of these
d. Does not release them from those promises
Restrictive covenants are regulations which can include d. All of these
which of the following?
a. Dictating minimum residence size
b. Nuber of homes per lot
c. Types of construction allowed and not allowed
d. All of these
, Before leasing the property back to a seller or leasing it a. Their insurance coverage
ahead of closing to a buyer, both parties need to pay
attention to the effect that leasing will have on which of
the following?
a. Their insurance coverage
b. The Seller's disclosure
c. The title commitment
d. The title policy
HUD's primary concern is to ensure that any occupancy b. To undo protections of families with children
standards are not so strict as:
a. To discriminate against single residents
b. To undo protections of families with children
c. To create a safety hazard
d. None of these
Which of these is a part of the Seller Financing d. All of these
Agreement
a. Promissory Note
b. Deed of Trust
c. Buyer's Credit Approval
d. All of these
Which of these DOES NOT mean that a contract might a. Valid
not or will not likely stand up in court?
a. Valid
b. Voidable
c. Unenforceable
d. Void
TRELA states unequivocally that it is illegal for a licensee c. All of these
to draw, i.e. create or develop which of the following on
their own?
a. A deed of trust
b. A deed
c. All of these
d. A will
Which of the New Home Contracts includes the Page 8 b. Both of them
construction defect language?
a. Neither of them
b. Both of them
c. New Home Contract (incomplete)
d. New Home Contract (completed)
ACTUAL Questions and CORRECT Answers
"Psychological stigmas," which involve violent or c. Permitted disclosures
catastrophic events on a property, fall under which
category of disclosure?
a. Required disclosures
b. Prohibited disclosures
c. Permitted disclosures
d. None of these
If there is a field in a promulgated form for which you b. Place "N/A" (not applicable) so it is clear that the buyer/buyer's agent is aware
have no information to include, your safest option is that the section exists and was not just overlooked
which of the following?
a. Run a line through it
b. Place "N/A" (not applicable) so it is clear that the
buyer/buyer's agent is aware that the section exists and
was not just overlooked
c. Any of these
d. Just leave it blank
,Which of these is an exemption to the "legal capacity" a. A contract for a life necessity
requirement to form a contract?
a. A contract for a life necessity
b. The other party had no knowledge of the party's lack
of legal capacity
c. Both of these are correct
d. Neither of these are correct
An amendment must always include reference to all of a. The title report
these, except:
a. The title report
b. The original contract
c. Parties
d. Date of ratification
What category of disclosure do "psychological stigmas" c. Permitted
fall into in Texas?
a. Prohibited
b. Required
c. Permitted
d. None of these
Promulgated contracts for TRELA generally are d. The Broker-Lawyer Committee
developed by which of the following?
a. TREC
b. National Association of Realtors
c. Texas Bar Association
d. The Broker-Lawyer Committee
If the seller has misled or misrepresented something, the d. Does not release them from those promises
signature at closing:
a. Terminates any obligation to the buyer
b. Neither of these
c. Either of these
d. Does not release them from those promises
Restrictive covenants are regulations which can include d. All of these
which of the following?
a. Dictating minimum residence size
b. Nuber of homes per lot
c. Types of construction allowed and not allowed
d. All of these
, Before leasing the property back to a seller or leasing it a. Their insurance coverage
ahead of closing to a buyer, both parties need to pay
attention to the effect that leasing will have on which of
the following?
a. Their insurance coverage
b. The Seller's disclosure
c. The title commitment
d. The title policy
HUD's primary concern is to ensure that any occupancy b. To undo protections of families with children
standards are not so strict as:
a. To discriminate against single residents
b. To undo protections of families with children
c. To create a safety hazard
d. None of these
Which of these is a part of the Seller Financing d. All of these
Agreement
a. Promissory Note
b. Deed of Trust
c. Buyer's Credit Approval
d. All of these
Which of these DOES NOT mean that a contract might a. Valid
not or will not likely stand up in court?
a. Valid
b. Voidable
c. Unenforceable
d. Void
TRELA states unequivocally that it is illegal for a licensee c. All of these
to draw, i.e. create or develop which of the following on
their own?
a. A deed of trust
b. A deed
c. All of these
d. A will
Which of the New Home Contracts includes the Page 8 b. Both of them
construction defect language?
a. Neither of them
b. Both of them
c. New Home Contract (incomplete)
d. New Home Contract (completed)
