AYPO REAL ESTATE LAW OF CONTRACTS (VERSION 1&2)
EXAM - COMPLETE QUESTIONS AND DETAILED
SOLUTIONS LATEST UPDATE JUST RELEASED
Question 1: Which of these was NOT one of the key court rulings?
Answer:
Earlier agreements supersede later agreements
Question 2: Which process requires the breaching party to
complete their contractual obligations?
Answer:
Specific performance
Question 3: The form that generally precedes the rest in most sales
transactions is the:
Answer:
Information About Brokerage Services
Question 4: Which type of listing agreement is the only one to
guarantee the broker a commission in the event of a successful
sale?
Answer:
Exclusive-right-to-sell
,Question 5: Buyer-broker agency is a relatively new concept in the
Texas real estate profession?
Answer:
TRUE
Question 6: Lease agreements lasting more than ________ must be
in writing to be unenforceable under the Texas Statute of Frauds.
Answer:
One year
Question 7: The leasehold estate owner is said to hold a
____________ interest.
Answer:
Reversionary
Question 8: Which of these would NOT be a requirement to create a
valid lease agreement?
Answer:
Financing disclosure
Question 9: Which form of these lease types is focused primarily
on commercial lessees?
Answer:
Percentage lease
,Question 10: A tenant abandoning a leased property without
providing proper notice or doing so under a previously negotiated
reason, is not released from their obligations.
Answer:
TRUE
Question 11: What type of contracts are options generally
considered to be?
Answer:
Unilateral
Question 12: A contract for deed is also known as:
Answer:
1. Installment sales contract
2. Real estate contract
Question 13: An advantage to buyers in a lease-purchase option is
that:
Answer:
It can be easier to get a difficult to qualify buyer into a home with a lower
down payment.
Question 14: The real estate sales contract becomes an offer as
soon as:
Answer:
, It has been prepared and signed by the purchaser.
Question 15: At what point has an acceptance of an offer been
completed?
Answer:
Once the offeror has been notified of the offeree's acceptance.
Question 16: A __________ clause states that a contract remains
valid even if one provision of the contract is rendered invalid.
Answer:
Severability
Question 17: Which of these IS NOT one of the major types of
REITs?
Answer:
Commercial
Question 18: Buyer's agents aware of a "stigma." i.e.,
psychologically impactful event, on a property are required to
disclose the stigma.
Answer:
FALSE
Question 19: Buyer A purchases home from Seller B, but the home
burns down the week before closing - the cause a cigarette
EXAM - COMPLETE QUESTIONS AND DETAILED
SOLUTIONS LATEST UPDATE JUST RELEASED
Question 1: Which of these was NOT one of the key court rulings?
Answer:
Earlier agreements supersede later agreements
Question 2: Which process requires the breaching party to
complete their contractual obligations?
Answer:
Specific performance
Question 3: The form that generally precedes the rest in most sales
transactions is the:
Answer:
Information About Brokerage Services
Question 4: Which type of listing agreement is the only one to
guarantee the broker a commission in the event of a successful
sale?
Answer:
Exclusive-right-to-sell
,Question 5: Buyer-broker agency is a relatively new concept in the
Texas real estate profession?
Answer:
TRUE
Question 6: Lease agreements lasting more than ________ must be
in writing to be unenforceable under the Texas Statute of Frauds.
Answer:
One year
Question 7: The leasehold estate owner is said to hold a
____________ interest.
Answer:
Reversionary
Question 8: Which of these would NOT be a requirement to create a
valid lease agreement?
Answer:
Financing disclosure
Question 9: Which form of these lease types is focused primarily
on commercial lessees?
Answer:
Percentage lease
,Question 10: A tenant abandoning a leased property without
providing proper notice or doing so under a previously negotiated
reason, is not released from their obligations.
Answer:
TRUE
Question 11: What type of contracts are options generally
considered to be?
Answer:
Unilateral
Question 12: A contract for deed is also known as:
Answer:
1. Installment sales contract
2. Real estate contract
Question 13: An advantage to buyers in a lease-purchase option is
that:
Answer:
It can be easier to get a difficult to qualify buyer into a home with a lower
down payment.
Question 14: The real estate sales contract becomes an offer as
soon as:
Answer:
, It has been prepared and signed by the purchaser.
Question 15: At what point has an acceptance of an offer been
completed?
Answer:
Once the offeror has been notified of the offeree's acceptance.
Question 16: A __________ clause states that a contract remains
valid even if one provision of the contract is rendered invalid.
Answer:
Severability
Question 17: Which of these IS NOT one of the major types of
REITs?
Answer:
Commercial
Question 18: Buyer's agents aware of a "stigma." i.e.,
psychologically impactful event, on a property are required to
disclose the stigma.
Answer:
FALSE
Question 19: Buyer A purchases home from Seller B, but the home
burns down the week before closing - the cause a cigarette
