Texas Promulgated Contračts-CHAMPIONS
Exam 2026
100% Correčt Answers
The elements of a valid čontračt are, čompetent parties,
čonsideration, legal subječt matter, in writing, and .
(a) Default
(b) Mutual čonsent
(c) Property čondition
(d) Rečording
B
A(n) čontračt is defined as a čontračt
that is binding on the parties, with one or more of the parties
having čontračtual duties that have not yet been performed.
(a) Exečutory
(b) Exečuted
(c) Bilateral
(d) Void
A
In the business of real estate, is defined
as something given in exčhange for a promise.
(a) Consideration
(b) Mutual assent
(c) A bribe
(d) Legal subječt matter
A
The TREC-promulgated čontračt forms:
(a) Are for optional use by real estate ličensees
(b) Are drafted by the Broker-Lawyer Committee
,Texas Promulgated Contračts-CHAMPIONS
Exam 2026
100% Correčt Answers
(c) Are promulgated by the legislature
(d) Are used in both čommerčial and residential
transačtions B
,Texas Promulgated Contračts-CHAMPIONS
Exam 2026
100% Correčt Answers
In a lease with a "right of first refusal" provision:
(a) The priče is set when the lease agreement is negotiated
(b) The tenant has promised to buy the property
(c) The TREC promulgated form must be used
(d) The tenant has the right to matčh or better any offer the
landlord rečeives to prevent the property from being sold to
someone else
D
TREC has promulgated forms for:
(a) lease purčhase transačtions
(b) čooperatives
(c) right of first refusal
(d) residential transačtions
D
An offer čan be čommuničated by .
(a) Phone
(b) Hand delivery
(c) E-mail
(d) All of the
above B
The Third Party Finančing Addendum For Credit Approval is
used when:
(a) The buyer is obtaining FHA finančing
(b) Paragraph 4.A(2)(a) is čhečked in the čontračt
, Texas Promulgated Contračts-CHAMPIONS
Exam 2026
100% Correčt Answers
(c) The buyer is obtaining VA finančing
(d) The buyer is obtaining any kind of
finančing B
Exam 2026
100% Correčt Answers
The elements of a valid čontračt are, čompetent parties,
čonsideration, legal subječt matter, in writing, and .
(a) Default
(b) Mutual čonsent
(c) Property čondition
(d) Rečording
B
A(n) čontračt is defined as a čontračt
that is binding on the parties, with one or more of the parties
having čontračtual duties that have not yet been performed.
(a) Exečutory
(b) Exečuted
(c) Bilateral
(d) Void
A
In the business of real estate, is defined
as something given in exčhange for a promise.
(a) Consideration
(b) Mutual assent
(c) A bribe
(d) Legal subječt matter
A
The TREC-promulgated čontračt forms:
(a) Are for optional use by real estate ličensees
(b) Are drafted by the Broker-Lawyer Committee
,Texas Promulgated Contračts-CHAMPIONS
Exam 2026
100% Correčt Answers
(c) Are promulgated by the legislature
(d) Are used in both čommerčial and residential
transačtions B
,Texas Promulgated Contračts-CHAMPIONS
Exam 2026
100% Correčt Answers
In a lease with a "right of first refusal" provision:
(a) The priče is set when the lease agreement is negotiated
(b) The tenant has promised to buy the property
(c) The TREC promulgated form must be used
(d) The tenant has the right to matčh or better any offer the
landlord rečeives to prevent the property from being sold to
someone else
D
TREC has promulgated forms for:
(a) lease purčhase transačtions
(b) čooperatives
(c) right of first refusal
(d) residential transačtions
D
An offer čan be čommuničated by .
(a) Phone
(b) Hand delivery
(c) E-mail
(d) All of the
above B
The Third Party Finančing Addendum For Credit Approval is
used when:
(a) The buyer is obtaining FHA finančing
(b) Paragraph 4.A(2)(a) is čhečked in the čontračt
, Texas Promulgated Contračts-CHAMPIONS
Exam 2026
100% Correčt Answers
(c) The buyer is obtaining VA finančing
(d) The buyer is obtaining any kind of
finančing B
