Law of Contracts Practice Exam Champions 2018
Study online at https://quizlet.com/_5bmw92
1. In ______the Texas Real Estate Commission was established to administer
and enforce the TRELA.
a. 1939
b. 1929
c. 1949
d. 1993: c. 1949
2. TREC has only _______ promulgated lease forms.
a. 1
b. 2
c. 3
d. 4: b. 2
3. In the TAR® Seller's Disclosure the seller should _______.
a. prepare the disclosure when the listing is taken
b. be the only one completing this form or any part of it
c. none of the above
d. both a and b: d. both a and b
4. Which of the following can result in a license revocation or suspension by
TREC?
(a) Failure to use TRECs promulgated forms
(b) Failure to use a form written by an attorney
(c) Failure to use a form required by a party
(d) all of the above: (d) all of the above
5. Which of the following does TREC have promulgated sales contract forms
for?
(a) Lease purchase
(b) Right of First Refusal
(c) Lease option
(d) Homes and condos: (d) Homes and condos
6. If a client is interested in a lease with an option to purchase or a right of first
refusal, the assistance of a(n)_________ is required.
(a) Attorney
(b) Broker
, Law of Contracts Practice Exam Champions 2018
Study online at https://quizlet.com/_5bmw92
(c) TREC Representative
(d) Subagent: (a) Attorney
7. The State of Texas requires that most sellers of residential property provide
a _______ whether or not the seller has ever occupied the property.
(a) Amendment to Contract
(b) Seller's Temporary Residential Lease
(c) Seller's Disclosure
(d) Seller Financing Addendum: (c) Seller's Disclosure
8. TREC's residential contract forms, ______, are mandatory for license hold-
ers, with few exceptions.
(a) for optional use by real estate license holders
(b) drafted by the Broker Lawyer Committee
(c) promulgated by the Broker Lawyer Committee
(d) mandatory for all real estate transactions in Texas: (b) drafted by the Broker
Lawyer Committee
9. Which of the following are defined as tangible chattels?
(a) Consumers
(b) Services
(c) Goods
(d) Fixtures: (c) Goods
10. The _______ statute provides that the sender's message must contain
clear and conspicuous notice that the message is an advertisement or solici-
tation..
(a) CAN-SPAM
(b) Interstate Land Sales Full Disclosure Act
(c) Do Not Call
(d) Junk Fax Prevention Act: (a) CAN-SPAM
11. A ________ is a possible polluter who may be held liable under CERCLA
for the contamination of a property or resource.
(a) Safe Harbor
(b) EBR
(c) PRP
(d) TMARR: (c) PRP
, Law of Contracts Practice Exam Champions 2018
Study online at https://quizlet.com/_5bmw92
12. If you hire a mold remediator he must give you _______ no later than 10
days after work is complete.
(a) Dept. of State and Health Services Agreement
(b) Texas Property Code receipt
(c) EPA Certificate
(d) Certificate of Mold Remediation: (d) Certificate of Mold Remediation
13. The rights that extend above the surface of land without limitation are
known as ______ rights.
(a) improvement
(b) subsurface
(c) surface
(d) air: (d) air
14. ______ are man-made additions to the land that are permanent and con-
sidered to become part of the land.
(a) Surface rights
(b) Improvements
(c) Fixtures
(d) Personal properties: (b) Improvements
15. Another name for personal property is _______.
(a) Furniture
(b) Fixutre
(c) Subsurface rights
(d) Personalty: (d) Personalty
16. In order to comply with the _______, contracts for the conveyance of an
interest in real estate or leases for a term of more than one year must be in
writing.
a. SAFE Act
b. Statute of Frauds
c. Statue of Limitations
d. RESPA: b. Statute of Frauds
17. A unilateral contract is said to lack __________.
a. Mutuality
b. Fairness
Study online at https://quizlet.com/_5bmw92
1. In ______the Texas Real Estate Commission was established to administer
and enforce the TRELA.
a. 1939
b. 1929
c. 1949
d. 1993: c. 1949
2. TREC has only _______ promulgated lease forms.
a. 1
b. 2
c. 3
d. 4: b. 2
3. In the TAR® Seller's Disclosure the seller should _______.
a. prepare the disclosure when the listing is taken
b. be the only one completing this form or any part of it
c. none of the above
d. both a and b: d. both a and b
4. Which of the following can result in a license revocation or suspension by
TREC?
(a) Failure to use TRECs promulgated forms
(b) Failure to use a form written by an attorney
(c) Failure to use a form required by a party
(d) all of the above: (d) all of the above
5. Which of the following does TREC have promulgated sales contract forms
for?
(a) Lease purchase
(b) Right of First Refusal
(c) Lease option
(d) Homes and condos: (d) Homes and condos
6. If a client is interested in a lease with an option to purchase or a right of first
refusal, the assistance of a(n)_________ is required.
(a) Attorney
(b) Broker
, Law of Contracts Practice Exam Champions 2018
Study online at https://quizlet.com/_5bmw92
(c) TREC Representative
(d) Subagent: (a) Attorney
7. The State of Texas requires that most sellers of residential property provide
a _______ whether or not the seller has ever occupied the property.
(a) Amendment to Contract
(b) Seller's Temporary Residential Lease
(c) Seller's Disclosure
(d) Seller Financing Addendum: (c) Seller's Disclosure
8. TREC's residential contract forms, ______, are mandatory for license hold-
ers, with few exceptions.
(a) for optional use by real estate license holders
(b) drafted by the Broker Lawyer Committee
(c) promulgated by the Broker Lawyer Committee
(d) mandatory for all real estate transactions in Texas: (b) drafted by the Broker
Lawyer Committee
9. Which of the following are defined as tangible chattels?
(a) Consumers
(b) Services
(c) Goods
(d) Fixtures: (c) Goods
10. The _______ statute provides that the sender's message must contain
clear and conspicuous notice that the message is an advertisement or solici-
tation..
(a) CAN-SPAM
(b) Interstate Land Sales Full Disclosure Act
(c) Do Not Call
(d) Junk Fax Prevention Act: (a) CAN-SPAM
11. A ________ is a possible polluter who may be held liable under CERCLA
for the contamination of a property or resource.
(a) Safe Harbor
(b) EBR
(c) PRP
(d) TMARR: (c) PRP
, Law of Contracts Practice Exam Champions 2018
Study online at https://quizlet.com/_5bmw92
12. If you hire a mold remediator he must give you _______ no later than 10
days after work is complete.
(a) Dept. of State and Health Services Agreement
(b) Texas Property Code receipt
(c) EPA Certificate
(d) Certificate of Mold Remediation: (d) Certificate of Mold Remediation
13. The rights that extend above the surface of land without limitation are
known as ______ rights.
(a) improvement
(b) subsurface
(c) surface
(d) air: (d) air
14. ______ are man-made additions to the land that are permanent and con-
sidered to become part of the land.
(a) Surface rights
(b) Improvements
(c) Fixtures
(d) Personal properties: (b) Improvements
15. Another name for personal property is _______.
(a) Furniture
(b) Fixutre
(c) Subsurface rights
(d) Personalty: (d) Personalty
16. In order to comply with the _______, contracts for the conveyance of an
interest in real estate or leases for a term of more than one year must be in
writing.
a. SAFE Act
b. Statute of Frauds
c. Statue of Limitations
d. RESPA: b. Statute of Frauds
17. A unilateral contract is said to lack __________.
a. Mutuality
b. Fairness
