Law of Contracts Exam ACTUAL
QUESTIONS AND CORRECT ANSWERS
Which of the following is a requirement for a Texas real estate agent license? - Correct
answers✔✔Show competency by passing the license exam
An active sale agent license may only be issued under.... - Correct answers✔✔The sponsorship
of a licensed broker
A license holder must NOT prepare which of the following documents? - Correct answers✔✔A
license holder must not prepare any of these documents
When Myra told Kristina that the roofing contractor only uses "top-of-the-line material" and that
the roof should last a very long time, she was most likely guilty of: - Correct
answers✔✔Misrepresentation
What conditions are present in this situation that give Kristina the right to file a lawsuit against
Mayra and Dirt Cheap Realty? - Correct answers✔✔The misrepresentation was a key element in
Kristina's decision to purchase the property and the buyers was harmed by the purchase
If a lawsuit is filed, all of the following defenses could potentially help Myra EXCEPT: - Correct
answers✔✔A certificate showing that Myra took an online class about virtual roof inspections
Patti, David, and Arthur inherited several acres from their parents. They each own a third of the
estate. What type of ownership do the siblings have? - Correct answers✔✔Tenancy in common
If you hire a mold remediator, he must give you a(n)__________ no later than 10 days after work
is complete. - Correct answers✔✔Certificate of Mold Remediation
, The rights that extend above the surface of the land without limitation are known as _________
rights. - Correct answers✔✔Air
Another name for private property is _________ - Correct answers✔✔Personality
One of the physical characteristics of land is _________ - Correct answers✔✔Indestructibility
A(n) _________ is created when an individual or entity acquires real estate. - Correct
answers✔✔Estate in severalty
Broker Bernardo has a signed sales contract that has not yet gone to the closing table. Therefore,
Bernardo has a(n) _________ contract. - Correct answers✔✔Executory
Bryan's client shows up to his closing after drinking three beers at a baseball game. Due to his
consumption of alcohol, the closing ????? place because Bryan's client is not legally __________
to sign. - Correct answers✔✔Competent
__________ is often referred to as a meeting of the minds. - Correct answers✔✔Mutual consent
Lynne purchased a lakefront lot in order to build her dream home. Under __________ , Lynne
has the right to construct a boat deck and anchor her pontoon boat on the water. - Correct
answers✔✔Littoral rights
Cities and municipalities have the right to regulate the type of buildings constructed in an area
through __________. - Correct answers✔✔Zoning
QUESTIONS AND CORRECT ANSWERS
Which of the following is a requirement for a Texas real estate agent license? - Correct
answers✔✔Show competency by passing the license exam
An active sale agent license may only be issued under.... - Correct answers✔✔The sponsorship
of a licensed broker
A license holder must NOT prepare which of the following documents? - Correct answers✔✔A
license holder must not prepare any of these documents
When Myra told Kristina that the roofing contractor only uses "top-of-the-line material" and that
the roof should last a very long time, she was most likely guilty of: - Correct
answers✔✔Misrepresentation
What conditions are present in this situation that give Kristina the right to file a lawsuit against
Mayra and Dirt Cheap Realty? - Correct answers✔✔The misrepresentation was a key element in
Kristina's decision to purchase the property and the buyers was harmed by the purchase
If a lawsuit is filed, all of the following defenses could potentially help Myra EXCEPT: - Correct
answers✔✔A certificate showing that Myra took an online class about virtual roof inspections
Patti, David, and Arthur inherited several acres from their parents. They each own a third of the
estate. What type of ownership do the siblings have? - Correct answers✔✔Tenancy in common
If you hire a mold remediator, he must give you a(n)__________ no later than 10 days after work
is complete. - Correct answers✔✔Certificate of Mold Remediation
, The rights that extend above the surface of the land without limitation are known as _________
rights. - Correct answers✔✔Air
Another name for private property is _________ - Correct answers✔✔Personality
One of the physical characteristics of land is _________ - Correct answers✔✔Indestructibility
A(n) _________ is created when an individual or entity acquires real estate. - Correct
answers✔✔Estate in severalty
Broker Bernardo has a signed sales contract that has not yet gone to the closing table. Therefore,
Bernardo has a(n) _________ contract. - Correct answers✔✔Executory
Bryan's client shows up to his closing after drinking three beers at a baseball game. Due to his
consumption of alcohol, the closing ????? place because Bryan's client is not legally __________
to sign. - Correct answers✔✔Competent
__________ is often referred to as a meeting of the minds. - Correct answers✔✔Mutual consent
Lynne purchased a lakefront lot in order to build her dream home. Under __________ , Lynne
has the right to construct a boat deck and anchor her pontoon boat on the water. - Correct
answers✔✔Littoral rights
Cities and municipalities have the right to regulate the type of buildings constructed in an area
through __________. - Correct answers✔✔Zoning
