promulgated contracts quizzes &
Solutions
A Public Improvement District (PID) is a special _______________ entity established by area
property owners to enhance a neighborhood or commercial district. Correct Ans-taxing
Paragraph 7D(1) indicates that the buyer: Correct Ans-accepts the property as is
The _____ has promulgated nine exceptions to title insurance policies. Correct Ans-texas
department of insurance
_______________ is the process of dividing ongoing expenses between the buyer and the seller
at closing. Correct Ans-proration
If signed by both parties, a(n) _______________ becomes a change to the existing contract and
must to be submitted to the title company. Correct Ans-amendment
In the event of _______________ by the buyer, the seller can choose to accept the buyer's
earnest money as liquidated damages, which releases both parties from any further obligation
under the contract. Correct Ans-default
The Seller shall deliver the property in its _______________ condition , ordinary
_______________ and _______________ Correct Ans-present
, wear
tear
. A sale is a(n) _______________ sale if one firm has listed the property and another firm is
working with the buyer. Correct Ans-cooperative
The broker is responsible for ensuring that the _______________ is filled in Correct Ans-
option
A sale is a(n)_______________ sale if the same broker is representing the seller and is also
working with the buyer. Correct Ans-in house
The One-to-Four Family contract stipulates that the buyer is to receive _______________ of the
property on closing and funding, or according to a temporary lease Correct Ans-possession
In a closing, _______________ are described as a cashier's check or wire transfer Correct
Ans-good funds
The _______________ is not a party to the contract, and has no liability for the performance of
either party. Correct Ans-escrow agent
Solutions
A Public Improvement District (PID) is a special _______________ entity established by area
property owners to enhance a neighborhood or commercial district. Correct Ans-taxing
Paragraph 7D(1) indicates that the buyer: Correct Ans-accepts the property as is
The _____ has promulgated nine exceptions to title insurance policies. Correct Ans-texas
department of insurance
_______________ is the process of dividing ongoing expenses between the buyer and the seller
at closing. Correct Ans-proration
If signed by both parties, a(n) _______________ becomes a change to the existing contract and
must to be submitted to the title company. Correct Ans-amendment
In the event of _______________ by the buyer, the seller can choose to accept the buyer's
earnest money as liquidated damages, which releases both parties from any further obligation
under the contract. Correct Ans-default
The Seller shall deliver the property in its _______________ condition , ordinary
_______________ and _______________ Correct Ans-present
, wear
tear
. A sale is a(n) _______________ sale if one firm has listed the property and another firm is
working with the buyer. Correct Ans-cooperative
The broker is responsible for ensuring that the _______________ is filled in Correct Ans-
option
A sale is a(n)_______________ sale if the same broker is representing the seller and is also
working with the buyer. Correct Ans-in house
The One-to-Four Family contract stipulates that the buyer is to receive _______________ of the
property on closing and funding, or according to a temporary lease Correct Ans-possession
In a closing, _______________ are described as a cashier's check or wire transfer Correct
Ans-good funds
The _______________ is not a party to the contract, and has no liability for the performance of
either party. Correct Ans-escrow agent
