CHAMPIONS SCHOOL OF REAL
ESTATE Actual exam
COMPREHENSIVE QUESTIONS
AND VERIFIED ANSWERS
2026(GRADED A+) DETAILED
ANSWERS!!
Default - 🧠 ANSWER ✔✔when a party to a contract fails to perform under
the contract (also referred to as breach of contract)
Types of Damages - 🧠 ANSWER ✔✔-Refund of Earnest Money
,-Monetary Damages
-Specific Performance
2 TREC Lease Forms - 🧠 ANSWER ✔✔1. Buyer's Temporary Residential
Lease - for use when the buyer occupies the property for no more than 90
days prior to closing.
2. Seller's Temporary Residential Lease - for use when the seller occupies
the property for no more than 90 days after closing.
Right of First Refusal - 🧠 ANSWER ✔✔giving the tenant the right to
purchase the leased property by matching or bettering any offer before the
property will be sold to someone else
Default Remedies - 🧠 ANSWER ✔✔Liquidated Damages - the seller can
choose to accept the buyer's earnest money, releasing all parties from any
further obligation
2. Monetary Damages - the injured party may "seek such other relief as
may be provided by law"
3. Specific Performance - the injured party files a court action seeking an
order of the court directing the defaulting party to perform according to the
terms of the contract.
, Texas Veteran's Land Board - 🧠 ANSWER ✔✔the primary benefit to the
veteran is that the rate on the Veteran's Land Board loan is often up to one
percent below prevailing market rates.
Indestructability or Durability - 🧠 ANSWER ✔✔the land cannot be destroyed
Immobility - 🧠 ANSWER ✔✔the land cannot be moved
Nonhomogeneity - 🧠 ANSWER ✔✔no two parcels of land are the same.
Scarcity - 🧠 ANSWER ✔✔supply and demand
Modification - 🧠 ANSWER ✔✔value is affected by man-made changes to
the land
Fixity - 🧠 ANSWER ✔✔land and additions to the land, such as buildings,
take long periods to pay for themselves
Situs - 🧠 ANSWER ✔✔location of the property or land from an economic
viewpoint
What constitutes an offer? - 🧠 ANSWER ✔✔an offer on a residential
property is presented in writing on the required forms. including any needed
addenda. ALL OFFERS MUST BE PRESENTED!
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
ESTATE Actual exam
COMPREHENSIVE QUESTIONS
AND VERIFIED ANSWERS
2026(GRADED A+) DETAILED
ANSWERS!!
Default - 🧠 ANSWER ✔✔when a party to a contract fails to perform under
the contract (also referred to as breach of contract)
Types of Damages - 🧠 ANSWER ✔✔-Refund of Earnest Money
,-Monetary Damages
-Specific Performance
2 TREC Lease Forms - 🧠 ANSWER ✔✔1. Buyer's Temporary Residential
Lease - for use when the buyer occupies the property for no more than 90
days prior to closing.
2. Seller's Temporary Residential Lease - for use when the seller occupies
the property for no more than 90 days after closing.
Right of First Refusal - 🧠 ANSWER ✔✔giving the tenant the right to
purchase the leased property by matching or bettering any offer before the
property will be sold to someone else
Default Remedies - 🧠 ANSWER ✔✔Liquidated Damages - the seller can
choose to accept the buyer's earnest money, releasing all parties from any
further obligation
2. Monetary Damages - the injured party may "seek such other relief as
may be provided by law"
3. Specific Performance - the injured party files a court action seeking an
order of the court directing the defaulting party to perform according to the
terms of the contract.
, Texas Veteran's Land Board - 🧠 ANSWER ✔✔the primary benefit to the
veteran is that the rate on the Veteran's Land Board loan is often up to one
percent below prevailing market rates.
Indestructability or Durability - 🧠 ANSWER ✔✔the land cannot be destroyed
Immobility - 🧠 ANSWER ✔✔the land cannot be moved
Nonhomogeneity - 🧠 ANSWER ✔✔no two parcels of land are the same.
Scarcity - 🧠 ANSWER ✔✔supply and demand
Modification - 🧠 ANSWER ✔✔value is affected by man-made changes to
the land
Fixity - 🧠 ANSWER ✔✔land and additions to the land, such as buildings,
take long periods to pay for themselves
Situs - 🧠 ANSWER ✔✔location of the property or land from an economic
viewpoint
What constitutes an offer? - 🧠 ANSWER ✔✔an offer on a residential
property is presented in writing on the required forms. including any needed
addenda. ALL OFFERS MUST BE PRESENTED!
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
