Promulgated Contract Forms final
exam question and answers
written by
Killey
The Marketplace to Buy and Sell your Study Material
At Stuvia, you will find the best notes, summaries, flashcards & other study material. Search for your
school or uni and find the study material you need.
www.stuvia.com
Downloaded by: Killey | Want to earn $1.236
Distribution of this document is illegal extra per year?
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
Promulgated Contract Forms final
exam question and answers
If a Buyer wants the Seller to pay some or all of their closing costs, it should be added to the
contract in:
A) Paragraph #11 (Special Provisions)
B) Paragraph #12 - Seller participation in the Buyer's costs
C) Third Part financing Addendum
D) All of the above
B) Paragraph #12- Seller participation in the Buyer's costs
If a Buyer chooses not to be represented by an agent, the Buyer must be made aware that
any information they share can be communicated to the Seller.
A) True
B) False
A) True
The sales price is determined in paragraph 3 by adding the down payment (3A) and the loan
amount (3B).
A) True
B) False
A) True
The Seller contracts to furnish the buyer an existing survey, but neglects to furnish an
"affidavit' with the time specified. The lender requests a new survey be furnished. Who pays
for the new survey?
A) Whoever is stated in the contract if the existing survey is rejected
B) The title company can approve the existing survey and override the lender
C) The buyer
D) The seller
D) The seller
The Third Party Financing Condition Addendum is not used with:
A) Conventional financing
B) Seller financing
Downloaded by: Killey | Want to earn $1.236
Distribution of this document is illegal extra per year?
exam question and answers
written by
Killey
The Marketplace to Buy and Sell your Study Material
At Stuvia, you will find the best notes, summaries, flashcards & other study material. Search for your
school or uni and find the study material you need.
www.stuvia.com
Downloaded by: Killey | Want to earn $1.236
Distribution of this document is illegal extra per year?
, Stuvia.com - The Marketplace to Buy and Sell your Study Material
Promulgated Contract Forms final
exam question and answers
If a Buyer wants the Seller to pay some or all of their closing costs, it should be added to the
contract in:
A) Paragraph #11 (Special Provisions)
B) Paragraph #12 - Seller participation in the Buyer's costs
C) Third Part financing Addendum
D) All of the above
B) Paragraph #12- Seller participation in the Buyer's costs
If a Buyer chooses not to be represented by an agent, the Buyer must be made aware that
any information they share can be communicated to the Seller.
A) True
B) False
A) True
The sales price is determined in paragraph 3 by adding the down payment (3A) and the loan
amount (3B).
A) True
B) False
A) True
The Seller contracts to furnish the buyer an existing survey, but neglects to furnish an
"affidavit' with the time specified. The lender requests a new survey be furnished. Who pays
for the new survey?
A) Whoever is stated in the contract if the existing survey is rejected
B) The title company can approve the existing survey and override the lender
C) The buyer
D) The seller
D) The seller
The Third Party Financing Condition Addendum is not used with:
A) Conventional financing
B) Seller financing
Downloaded by: Killey | Want to earn $1.236
Distribution of this document is illegal extra per year?
