Real Estate Law of Contracts-
Assignment 1 with answers
How many commissioners are on the Texas Real Estate Commission? -
Ans>>9
Who appoints the TREC commissioners? - Ans>>Governor
What is the term for a TREC commissioner? - Ans>>Staggered six-year
terms
What is one of the purposes of the Texas Real Estate License Act? - Ans>>-
Regulation of licensed real estate inspectors
- Regulation of licensed real estate brokerage practitioners
- Regulation of residential service companies
Which of the following real estate-related entities has rule-making authority
in the state of Texas? - Ans>>The Commission
What effect do the rules made by the commission have on license holders? -
Ans>>The rules have full force and effect of law.
What is the main purpose of the Texas Real Estate Commission? - Ans>>To
protect the public
Which of the following is the correct composition of the Texas Real Estate
Commission? - Ans>>Nine members appointed by the governor for six-year
terms.
Which of the following is TRUE? - Ans>>The rules of the Texas Real Estate
Commission have the full force and effect of law.
What law specifically prohibits license holders from practicing law? -
Ans>>Texas Real Estate License Act (TRELA)
Real estate brokers who are members of the Broker-Lawyer Committee
become members by being - Ans>>appointed by the Texas Real Estate
Commission
Which of the following is TRUE? - Ans>>The Broker-Lawyer Committee
develops forms and recommends their adoption, but it is the TREC that
promulgates the forms for mandatory use.
Which of the following committees is responsible for drafting and revising
contract forms? - Ans>>Broker-Lawyer Committee
, Which of the following is NOT a TREC-promulgated contract? -
Ans>>Contract for Deed
Which of the following is a TREC-promulgated contract? - Ans>>Residential
Condominium Contract
Which of the following is a TREC-promulgated form?
a. Non-Realty Items Addendum
b. Addendum for Sale of Other Property by Buyer
c. Seller's Disclosure Notice
d. Information About Brokerage Services Addendum - Ans>>b
Which of the following is NOT a TREC-promulgated addendum?
a. Addendum for Seller's Right to Terminate
b. Addendum for Release of Liability on Assumed Loan and/or Restoration of
Seller's VA Entitlement
c. Addendum for Back-Up Contract
d. Seller's Temporary Residential Lease - Ans>>a
A buyer wanted to move in early before closing. Which TREC-promulgated
addendum should be used? - Ans>>Buyer's Temporary Residential Lease
Which of the following addenda are promulgated by TREC?
a. Seller Financing Addendum
b. Addendum for Property Located Seaward of the Gulf Intracoastal
Waterway
c. All of these
d. Addendum for Coastal Area Property - Ans>>c
A real estate broker modifies a 1992 TREC-promulgated contract form and
updates it to fit a particular transaction. Which of the following could
happen? - Ans>>The broker could have his license suspended or revoked for
practicing law.
Which of the following is NOT a promulgated TREC form?
a. Addendum for Coastal Area Property
b. Buyer's Temporary Lease
c. Deed
Assignment 1 with answers
How many commissioners are on the Texas Real Estate Commission? -
Ans>>9
Who appoints the TREC commissioners? - Ans>>Governor
What is the term for a TREC commissioner? - Ans>>Staggered six-year
terms
What is one of the purposes of the Texas Real Estate License Act? - Ans>>-
Regulation of licensed real estate inspectors
- Regulation of licensed real estate brokerage practitioners
- Regulation of residential service companies
Which of the following real estate-related entities has rule-making authority
in the state of Texas? - Ans>>The Commission
What effect do the rules made by the commission have on license holders? -
Ans>>The rules have full force and effect of law.
What is the main purpose of the Texas Real Estate Commission? - Ans>>To
protect the public
Which of the following is the correct composition of the Texas Real Estate
Commission? - Ans>>Nine members appointed by the governor for six-year
terms.
Which of the following is TRUE? - Ans>>The rules of the Texas Real Estate
Commission have the full force and effect of law.
What law specifically prohibits license holders from practicing law? -
Ans>>Texas Real Estate License Act (TRELA)
Real estate brokers who are members of the Broker-Lawyer Committee
become members by being - Ans>>appointed by the Texas Real Estate
Commission
Which of the following is TRUE? - Ans>>The Broker-Lawyer Committee
develops forms and recommends their adoption, but it is the TREC that
promulgates the forms for mandatory use.
Which of the following committees is responsible for drafting and revising
contract forms? - Ans>>Broker-Lawyer Committee
, Which of the following is NOT a TREC-promulgated contract? -
Ans>>Contract for Deed
Which of the following is a TREC-promulgated contract? - Ans>>Residential
Condominium Contract
Which of the following is a TREC-promulgated form?
a. Non-Realty Items Addendum
b. Addendum for Sale of Other Property by Buyer
c. Seller's Disclosure Notice
d. Information About Brokerage Services Addendum - Ans>>b
Which of the following is NOT a TREC-promulgated addendum?
a. Addendum for Seller's Right to Terminate
b. Addendum for Release of Liability on Assumed Loan and/or Restoration of
Seller's VA Entitlement
c. Addendum for Back-Up Contract
d. Seller's Temporary Residential Lease - Ans>>a
A buyer wanted to move in early before closing. Which TREC-promulgated
addendum should be used? - Ans>>Buyer's Temporary Residential Lease
Which of the following addenda are promulgated by TREC?
a. Seller Financing Addendum
b. Addendum for Property Located Seaward of the Gulf Intracoastal
Waterway
c. All of these
d. Addendum for Coastal Area Property - Ans>>c
A real estate broker modifies a 1992 TREC-promulgated contract form and
updates it to fit a particular transaction. Which of the following could
happen? - Ans>>The broker could have his license suspended or revoked for
practicing law.
Which of the following is NOT a promulgated TREC form?
a. Addendum for Coastal Area Property
b. Buyer's Temporary Lease
c. Deed
