CHAMPIONS PROMULGATED CONTRACT FORMS
PRACTICE QUIZ WITH VERIFIED QUESTIONS AND
ANSWERS | TRIED AND TESTED | NEW AND
UPDATED 2026
The party to whom an offer is submitted is known as the _____________.
(a) License holder
(b) Offeree
(c) Buyer
(d) Broker
(b) Offeree
Sales Agent Nate receives four offer on Seller Tim's property in the order
in which they were received. After presenting the offers to Tim, Nate
sees that a fifth offer was faxed over. What should Nate do?
(a) Nothing
(b) Wait for Tim to decide between the other four before presenting the
fifth
(c) Tell the offeror that their offer has been rejected because there are
already four offers on the table
(d) Present to fifth offer to Tim
(d) Present to fifth offer to Tim
When a seller agrees to pay for a home warranty as a condition of a sale,
the seller has made a(n) ___________.
(a) Counteroffer
(b) Novation
(c) Concession
(d) Special Provision
,(c) Concession
Property includes:
(a) Land
(b) Accessories
(c) Improvements
(d) All of these are collectively referred to as property
Raul is Moises's father and real estate agent. What must Raul do when
filling out the sales contract?
(a) Notate the relationship in Paragraph 11
(b) Substitute another agent in his brokerage for his own name
(c) Nothing special has to be filled out for familial relationships
(d) Disclose this relationship in Paragraph 4
(d) Disclose this relationship in Paragraph 4
Which of the following is NOT considered an accessory?
(a) Curtains
(b) A mailbox
(c) Blinds
(d) A fireplace screen
(b) A mailbox
Exclusions to the sale must be entered in Paragraph _______ of the One
to Four Family Residential Contract.
(a) 2A
(b) 2B
(c) 2C
(d) 2D
(d) 2D
, The five essential elements that must exist for a real estate sales
contract to be considered valid and enforceable are: legal purpose,
competent parties, mutual assent, consideration and ____________.
(a) Signature of witnesses
(b) In writing
(c) Acknowledgment by a notary
(d) Recording in county clerk's office
(b) In writing
If a contract has been entered into with a person who has been judged to
be incompetent, that contract is considered ____________ because that
person never had the capacity to enter into it.
(a) Executed
(b) Valid
(c) Voidable
(d) Void
(d) Void
Tammy is interested in Jolene's property, but wants to research the
zoning laws before purchasing. She has and agreement in which she paid
a fee of $10,000 to keep the property available for a preset price for 30
days, during which time Jolene cannot sell the property to another.
Tammy, however, can change her mind if she likes. What kind of
agreement is this?
(a) Bilateral
(b) Oral
(c) Option
(d) Void
(c) Option
All oral negotiations are _________.
PRACTICE QUIZ WITH VERIFIED QUESTIONS AND
ANSWERS | TRIED AND TESTED | NEW AND
UPDATED 2026
The party to whom an offer is submitted is known as the _____________.
(a) License holder
(b) Offeree
(c) Buyer
(d) Broker
(b) Offeree
Sales Agent Nate receives four offer on Seller Tim's property in the order
in which they were received. After presenting the offers to Tim, Nate
sees that a fifth offer was faxed over. What should Nate do?
(a) Nothing
(b) Wait for Tim to decide between the other four before presenting the
fifth
(c) Tell the offeror that their offer has been rejected because there are
already four offers on the table
(d) Present to fifth offer to Tim
(d) Present to fifth offer to Tim
When a seller agrees to pay for a home warranty as a condition of a sale,
the seller has made a(n) ___________.
(a) Counteroffer
(b) Novation
(c) Concession
(d) Special Provision
,(c) Concession
Property includes:
(a) Land
(b) Accessories
(c) Improvements
(d) All of these are collectively referred to as property
Raul is Moises's father and real estate agent. What must Raul do when
filling out the sales contract?
(a) Notate the relationship in Paragraph 11
(b) Substitute another agent in his brokerage for his own name
(c) Nothing special has to be filled out for familial relationships
(d) Disclose this relationship in Paragraph 4
(d) Disclose this relationship in Paragraph 4
Which of the following is NOT considered an accessory?
(a) Curtains
(b) A mailbox
(c) Blinds
(d) A fireplace screen
(b) A mailbox
Exclusions to the sale must be entered in Paragraph _______ of the One
to Four Family Residential Contract.
(a) 2A
(b) 2B
(c) 2C
(d) 2D
(d) 2D
, The five essential elements that must exist for a real estate sales
contract to be considered valid and enforceable are: legal purpose,
competent parties, mutual assent, consideration and ____________.
(a) Signature of witnesses
(b) In writing
(c) Acknowledgment by a notary
(d) Recording in county clerk's office
(b) In writing
If a contract has been entered into with a person who has been judged to
be incompetent, that contract is considered ____________ because that
person never had the capacity to enter into it.
(a) Executed
(b) Valid
(c) Voidable
(d) Void
(d) Void
Tammy is interested in Jolene's property, but wants to research the
zoning laws before purchasing. She has and agreement in which she paid
a fee of $10,000 to keep the property available for a preset price for 30
days, during which time Jolene cannot sell the property to another.
Tammy, however, can change her mind if she likes. What kind of
agreement is this?
(a) Bilateral
(b) Oral
(c) Option
(d) Void
(c) Option
All oral negotiations are _________.
