Tx Promulgated Forms Exam 2023 with complete solution
There are six elements of a valid real estate contract. Which of the following is NOT an
element of a valid real estate contract?
a. Consideration
b. Can be verbal as long as agreed upon by the parties
c. Competent parties
d. Legal description
B.
Which element of a valid real estate contract can, once established as valid, appoint an
attorney-in-fact to serve in a fiduciary capacity?
a. Competent Parties
b. Mutual Agreement
c. Lawful Objective
d. In writing and signed by the parties
A. Competent parties
Which of the following is NOT a form of an executory contract?
a. Contract-for-deed contract
b. Lease-purchase contract
c. One to Four Family Residential contract
d. Lease-option contract
C.
In Texas, the statute of limitations for filing a legal suit of a written contract is __ years.
4 years
The purpose of TRELA is to protect ________ through regulation of licensed real estate
brokerage practitioners, real estate inspectors, residential service companies, and
entities offering timeshare interests.
a. the real estate industry
b. the government
c. the public
, d. none of these
the public
TREC rule 537.11, states the licensee must use promulgated forms UNLESS:
a. transactions in which an agency of the U.S. government requires a different form to
be used.
b. no contract has been promulgated by the commission and licensee uses a contract
prepared by an attorney or by the Texas Real Estate Broker-Lawyer Committee.
c. Transaction in which the licensee is functioning solely as a principal, not an agent.
d. all of the above.
d. All of the above
A fourth exception -
A seller's instruction not to present backup offers
a. is contrary to licensing laws.
b. may only be given after an offer has been accepted.
c. must be given when the listing is signed.
d. must be given to the licensee in writing.
b
Which of the following is NOT a TREC-promulgated form?
a. Notice of Buyer's Termination of Contract
b. Addendum for Coastal Area Property
c. Exclusive Right-to-Sell Listing Agreement
d. Amendment
C.
3 Ps
Party, Property and Price
Which financing addendum will the purchaser use when purchasing a property for
cash?
There are six elements of a valid real estate contract. Which of the following is NOT an
element of a valid real estate contract?
a. Consideration
b. Can be verbal as long as agreed upon by the parties
c. Competent parties
d. Legal description
B.
Which element of a valid real estate contract can, once established as valid, appoint an
attorney-in-fact to serve in a fiduciary capacity?
a. Competent Parties
b. Mutual Agreement
c. Lawful Objective
d. In writing and signed by the parties
A. Competent parties
Which of the following is NOT a form of an executory contract?
a. Contract-for-deed contract
b. Lease-purchase contract
c. One to Four Family Residential contract
d. Lease-option contract
C.
In Texas, the statute of limitations for filing a legal suit of a written contract is __ years.
4 years
The purpose of TRELA is to protect ________ through regulation of licensed real estate
brokerage practitioners, real estate inspectors, residential service companies, and
entities offering timeshare interests.
a. the real estate industry
b. the government
c. the public
, d. none of these
the public
TREC rule 537.11, states the licensee must use promulgated forms UNLESS:
a. transactions in which an agency of the U.S. government requires a different form to
be used.
b. no contract has been promulgated by the commission and licensee uses a contract
prepared by an attorney or by the Texas Real Estate Broker-Lawyer Committee.
c. Transaction in which the licensee is functioning solely as a principal, not an agent.
d. all of the above.
d. All of the above
A fourth exception -
A seller's instruction not to present backup offers
a. is contrary to licensing laws.
b. may only be given after an offer has been accepted.
c. must be given when the listing is signed.
d. must be given to the licensee in writing.
b
Which of the following is NOT a TREC-promulgated form?
a. Notice of Buyer's Termination of Contract
b. Addendum for Coastal Area Property
c. Exclusive Right-to-Sell Listing Agreement
d. Amendment
C.
3 Ps
Party, Property and Price
Which financing addendum will the purchaser use when purchasing a property for
cash?
