Promulgated Contract Forms EXAM, QUESTIONS WITH ACCURATE ANSWERS |
MULTIPLE CHOICES |2025!!
Terms in this set (60)
Madison is writing up a contract c) One to Four Family Residential Contract
on a townhouse unit for which the
buyer will have fee simple
ownership and pay a
monthly HOA for the upkeep on
common areas. Which
promulgated contract should she
use?
a) Residential Condominium Contract
b) Unimproved Property Contract
c) One to Four Family Residential
Contract
d) Residential Townhome Contract
TREC has promulgated forms for d) Residential transactions
most ___.
a) Lease purchase transactions
b) Cooperatives
c) Commercial leases
d) Residential transactions
TREC promulgated contracts allow b) By inspectors licensed by TREC or otherwise permitted by law
they buyer to have the property
inspected:
a) By anyone personally selected
by the buyer
b) By inspectors licensed by
TREC or otherwise
permitted by law
c) No more than three times
d) At any time by any person
selected by the buyer's agent
,Buyer Sarah is purchasing a residential c) Specify the use a daycare in Paragraph 6: Objections
property. She plans to live in the
home and operate a daycare
business out of it.
Having mentioned this to her
agent, the agent should:
a) Write a paragraph describing
the business in Paragraph 11,
Special Provisions
b) Disclose the daycare using a
TREC Special Use
addendum
c) Specify the use as a
daycare in Paragraph:
Objections
d) Not mention the daycare
because the future use of a
property is not an issue
The title company is: b) Not a party to the contract
a). A party to the contract
b) Not a party to the contract
c) Liable for the performance of the
parties
d) Responsible for arranging
financing for the buyer
A(n) property is one where a a) Stigmatized
particular event has affected the
desirability of said property.
a) Stigmatized
b) Undesirable
c) Unsellable
d) Forecloased
, A license holder might be guilty of d) Performs any of these actions could result in a real estate license
the unlawful practice of law if he being suspended or revoked by TREC
or she:
a) Writes a will for a client
b) Advises a buyer regarding title
issues
c) Drafts lengthy and complex
provision in special provisions
d) Performs any of these
actions could result in a real
estate license being
suspended or revoked by TREC
When a seller wishes to retain d) Exclusions
certain fixtures or accessories,
these items are called ___.
a) Personal property
b) Reservations
c) Exceptions
d) Exclusions
What is TRUE of the paragraph c) Time is of the essence for this paragraph.
regarding Earnest Money in the 1-
4 Family Residential Contract?
a) Earnest money is required to
make the contract valid
b) Time is not of the essence
for this paragraph
c) Time is of the essence of this
paragraph
d) The paragraph states the
standard dollar amount of earnest
money is required for a valid
contract.
MULTIPLE CHOICES |2025!!
Terms in this set (60)
Madison is writing up a contract c) One to Four Family Residential Contract
on a townhouse unit for which the
buyer will have fee simple
ownership and pay a
monthly HOA for the upkeep on
common areas. Which
promulgated contract should she
use?
a) Residential Condominium Contract
b) Unimproved Property Contract
c) One to Four Family Residential
Contract
d) Residential Townhome Contract
TREC has promulgated forms for d) Residential transactions
most ___.
a) Lease purchase transactions
b) Cooperatives
c) Commercial leases
d) Residential transactions
TREC promulgated contracts allow b) By inspectors licensed by TREC or otherwise permitted by law
they buyer to have the property
inspected:
a) By anyone personally selected
by the buyer
b) By inspectors licensed by
TREC or otherwise
permitted by law
c) No more than three times
d) At any time by any person
selected by the buyer's agent
,Buyer Sarah is purchasing a residential c) Specify the use a daycare in Paragraph 6: Objections
property. She plans to live in the
home and operate a daycare
business out of it.
Having mentioned this to her
agent, the agent should:
a) Write a paragraph describing
the business in Paragraph 11,
Special Provisions
b) Disclose the daycare using a
TREC Special Use
addendum
c) Specify the use as a
daycare in Paragraph:
Objections
d) Not mention the daycare
because the future use of a
property is not an issue
The title company is: b) Not a party to the contract
a). A party to the contract
b) Not a party to the contract
c) Liable for the performance of the
parties
d) Responsible for arranging
financing for the buyer
A(n) property is one where a a) Stigmatized
particular event has affected the
desirability of said property.
a) Stigmatized
b) Undesirable
c) Unsellable
d) Forecloased
, A license holder might be guilty of d) Performs any of these actions could result in a real estate license
the unlawful practice of law if he being suspended or revoked by TREC
or she:
a) Writes a will for a client
b) Advises a buyer regarding title
issues
c) Drafts lengthy and complex
provision in special provisions
d) Performs any of these
actions could result in a real
estate license being
suspended or revoked by TREC
When a seller wishes to retain d) Exclusions
certain fixtures or accessories,
these items are called ___.
a) Personal property
b) Reservations
c) Exceptions
d) Exclusions
What is TRUE of the paragraph c) Time is of the essence for this paragraph.
regarding Earnest Money in the 1-
4 Family Residential Contract?
a) Earnest money is required to
make the contract valid
b) Time is not of the essence
for this paragraph
c) Time is of the essence of this
paragraph
d) The paragraph states the
standard dollar amount of earnest
money is required for a valid
contract.
