ACEABLE AGENT TEXAS PROMULGATED
CONTRACTS EXAM 5 PRACTICE QUESTIONS
WITH DETAILED EXPLANATIONS 2026
◉ In Paragraph 10 of the sales contract, the parties check a box
saying that possession of the property will be transferred:
Answer: upon closing and funding OR according to a temporary
residential lease agreement
◉ Agents are required to give all buyers a written copy of the title
notice. Aside from Paragraph 6E(1) of the One to Four Family
Residential contract, where else can this notice be found?
Answer: the Notice to Prospective Buyer
◉ Which TREC-promulgated contract are all the other contracts
based on?
Answer: One to Four Family Residential Contract
◉ Paragraph 10 of the One to Four Family Residential Contract
describes possession. What happens if possession does not occur
the same day as closing?
Answer: A written lease should be created for that time period.
,◉ closed
Answer: When a contract has been fully executed, it becomes:
◉ Alex is a licensed sales agent. Her client is selling her single-family
home. In order not to violate TRELA contract law and run afoul of
TREC, how should she create the contract?
Answer: She should use TREC's promulgated One to Four Family
Residential Contract.
◉ Which of these constitutes a voidable contract?
Answer: Which of these constitutes a voidable contract?
◉ The Third Party Financing Addendum is used for buyers financing
a real estate purchase through a:
Answer: lender
◉ Agent Sarah knows her client wants to make the sales contract
contingent on appraisal, so she adds a notation to that effect in the
Special Provisions section of the contract. Why is that wrong?
Answer: It could be considered the unauthorized practice of law.
◉ What happens when a homebuyer takes out a residential service
contract on their newly purchased home?
Answer: They get a warranty for the property, usually for a year.
, ◉ Paragraph D of the Short Sale Addendum contains a date by which
the seller must get approval from their lender for the sale. What
happens if the lender does not give approval by the date?
Answer: The contract will terminate and the earnest money will be
refunded to the buyer.
◉ María, the buyer, and Jennie, the seller, are in the process of
negotiating a sales contract. María wants a crack in the home's
siding fixed and some new plumbing installed. What will happen
next?
Answer: María and Jennie will negotiate which repairs, if any, Jennie
will be responsible for. If Jennie decides not to do any repairs, María
may be able to terminate the contract.
◉ Reggie made Betty an offer on her house. She countered, but
Reggie has not yet accepted. Then along comes Archie with a better
offer. Before accepting Archie's offer, what must Betty do?
Answer: withdraw her counter to Reggie
◉ What are two real estate governing bodies that were formed as a
result of TRELA?
Answer: TREC and the Broker-Lawyer Committee
CONTRACTS EXAM 5 PRACTICE QUESTIONS
WITH DETAILED EXPLANATIONS 2026
◉ In Paragraph 10 of the sales contract, the parties check a box
saying that possession of the property will be transferred:
Answer: upon closing and funding OR according to a temporary
residential lease agreement
◉ Agents are required to give all buyers a written copy of the title
notice. Aside from Paragraph 6E(1) of the One to Four Family
Residential contract, where else can this notice be found?
Answer: the Notice to Prospective Buyer
◉ Which TREC-promulgated contract are all the other contracts
based on?
Answer: One to Four Family Residential Contract
◉ Paragraph 10 of the One to Four Family Residential Contract
describes possession. What happens if possession does not occur
the same day as closing?
Answer: A written lease should be created for that time period.
,◉ closed
Answer: When a contract has been fully executed, it becomes:
◉ Alex is a licensed sales agent. Her client is selling her single-family
home. In order not to violate TRELA contract law and run afoul of
TREC, how should she create the contract?
Answer: She should use TREC's promulgated One to Four Family
Residential Contract.
◉ Which of these constitutes a voidable contract?
Answer: Which of these constitutes a voidable contract?
◉ The Third Party Financing Addendum is used for buyers financing
a real estate purchase through a:
Answer: lender
◉ Agent Sarah knows her client wants to make the sales contract
contingent on appraisal, so she adds a notation to that effect in the
Special Provisions section of the contract. Why is that wrong?
Answer: It could be considered the unauthorized practice of law.
◉ What happens when a homebuyer takes out a residential service
contract on their newly purchased home?
Answer: They get a warranty for the property, usually for a year.
, ◉ Paragraph D of the Short Sale Addendum contains a date by which
the seller must get approval from their lender for the sale. What
happens if the lender does not give approval by the date?
Answer: The contract will terminate and the earnest money will be
refunded to the buyer.
◉ María, the buyer, and Jennie, the seller, are in the process of
negotiating a sales contract. María wants a crack in the home's
siding fixed and some new plumbing installed. What will happen
next?
Answer: María and Jennie will negotiate which repairs, if any, Jennie
will be responsible for. If Jennie decides not to do any repairs, María
may be able to terminate the contract.
◉ Reggie made Betty an offer on her house. She countered, but
Reggie has not yet accepted. Then along comes Archie with a better
offer. Before accepting Archie's offer, what must Betty do?
Answer: withdraw her counter to Reggie
◉ What are two real estate governing bodies that were formed as a
result of TRELA?
Answer: TREC and the Broker-Lawyer Committee
