Promulgated Contracts Test | 160 Questions
with 100% Correct Answers | Updated 2023 |
Guaranteed A+
TRELA specifically prohibits real estate licensees from the dangerous mistakes of: - ✔✔engaging in
the unauthorized practice of law
TRELA, the reigning real estate law today, was established in: - ✔✔1955
Modifications to promulgated from must: - ✔✔Be initiated by the appropriate parties
TREC allows the use of forms that are not promulgated: - ✔✔If they are prepared by the owner, or
by any attorney and required by the property owner
When a licensee receives a verbal offer on a property: - ✔✔They should present it to the owner as
quickly as possible
Which of these IS NOT in the information requested above? - ✔✔Who is the buyer's employer?
Identification of the buyer and seller must include: - ✔✔Full name and marital status of all parties.
,For items for which a promulgated addendum is provided the proper way to include the item is: -
✔✔Through use of the addendum.
Which form of financing does the "Third Party Financing Addendum NOT cover? - ✔✔Seller financing
The Promissory Note section of the Seller's Financing Addendum includes: - ✔✔All of these.
VA will not restore Seller's VA entitlement except under which of these conditions? - ✔✔All of these.
Which of these addenda was NOT examined in detail as part of this lesson? - ✔✔Addendum for Sale
of Other Property by Buyer.
If a contracted buyer and seller cannot agree to a resolution on repair costs: - ✔✔The contract
will terminate
The TREC 1-4 states that Broker's Fees: - ✔✔Are handled in a separate agreement
The escrow in a One to Four Family Residential sale: - ✔✔Has all of these protections
, According to One to Four Family Residential Contract, who pays for the title policy? - ✔✔Whoever
is specified
The use of paragraph 11 (Special Provisions) of the One to Four Family Residential -
✔✔Factual statements and business details applicable to the sale
In the TREC 1-4 sales form, identification of the buyer and seller must include: - ✔✔Full name
and material status of all parties
When filling out One to Four Family Residential Contract, the names of the parties should be
accompanied by: - ✔✔Their marital status, if applicable
Texas' promulgated One to Four Family Residential Contract (Resale) §23: - ✔✔Allows the buyer a grace
period in which they can cancel the deal without risking their escrow deposit
How much earnest money does Texas state law require to validate a real estate sale contract? -
✔✔No earnest money is required.
with 100% Correct Answers | Updated 2023 |
Guaranteed A+
TRELA specifically prohibits real estate licensees from the dangerous mistakes of: - ✔✔engaging in
the unauthorized practice of law
TRELA, the reigning real estate law today, was established in: - ✔✔1955
Modifications to promulgated from must: - ✔✔Be initiated by the appropriate parties
TREC allows the use of forms that are not promulgated: - ✔✔If they are prepared by the owner, or
by any attorney and required by the property owner
When a licensee receives a verbal offer on a property: - ✔✔They should present it to the owner as
quickly as possible
Which of these IS NOT in the information requested above? - ✔✔Who is the buyer's employer?
Identification of the buyer and seller must include: - ✔✔Full name and marital status of all parties.
,For items for which a promulgated addendum is provided the proper way to include the item is: -
✔✔Through use of the addendum.
Which form of financing does the "Third Party Financing Addendum NOT cover? - ✔✔Seller financing
The Promissory Note section of the Seller's Financing Addendum includes: - ✔✔All of these.
VA will not restore Seller's VA entitlement except under which of these conditions? - ✔✔All of these.
Which of these addenda was NOT examined in detail as part of this lesson? - ✔✔Addendum for Sale
of Other Property by Buyer.
If a contracted buyer and seller cannot agree to a resolution on repair costs: - ✔✔The contract
will terminate
The TREC 1-4 states that Broker's Fees: - ✔✔Are handled in a separate agreement
The escrow in a One to Four Family Residential sale: - ✔✔Has all of these protections
, According to One to Four Family Residential Contract, who pays for the title policy? - ✔✔Whoever
is specified
The use of paragraph 11 (Special Provisions) of the One to Four Family Residential -
✔✔Factual statements and business details applicable to the sale
In the TREC 1-4 sales form, identification of the buyer and seller must include: - ✔✔Full name
and material status of all parties
When filling out One to Four Family Residential Contract, the names of the parties should be
accompanied by: - ✔✔Their marital status, if applicable
Texas' promulgated One to Four Family Residential Contract (Resale) §23: - ✔✔Allows the buyer a grace
period in which they can cancel the deal without risking their escrow deposit
How much earnest money does Texas state law require to validate a real estate sale contract? -
✔✔No earnest money is required.
