Promulgated Contract Forms final exam
Any changes to the original contract once it is finalized and receipted
must be done:
A) At the title company on the original contract
B) On an amendment
C) On the 3rd Party Financing Addendum
D) On a real estate change form - Correct Answer ✔️✔️B)
On an amendment
A TREC promulgated (declaration)Farm and Ranch contract can
include:
A) Buildings
,B) Crops
C) Equipment
D) All of the above - Correct Answer ✔️✔️D) All of the
above
What must a Buyer's Representation Agreement have?
A) Fair Housing disclosure
B) An attachment from a mortgage company regarding buyer's
qualifications for a loan
C) A termination date
D) none of the above - Correct Answer ✔️✔️C) A
termination date
Who is designated as responsible for promptly sending a copy of the
contract to any attorneys that are named in the contract?
,A) The title company
B) The lender
C) The broker
D) The buyer - Correct Answer ✔️✔️C) The broker
According to the Real Estate License Act of Texas, which one of the
following actions is a fair and impartial act for an Intermediary?
A) Appointing associated licensees to work with the parties
B) Appointing subagents to work with the parties
C) Agreeing to represent only the owner
D) Agreeing to represent only the buyer - Correct Answer ✔️
✔️A) Appointing associated licensees to work with the parties
, When electing to use the option paragraph of the contract, the buyer
may, within the time specified in the paragraph, do any of the
following EXCEPT:
A) Complete the repairs himself before the end of the option period
B) Terminate the contract
C) Do nothing and proceed to closing
D) Amend the contract waiving the right to terminate - Correct
Answer ✔️✔️A) Complete the repairs himself before the end of
the option period
A Buyer/Tenant Representation Agreement is only available through
the Texas Real Estate Commission (TREC)
A) True
Any changes to the original contract once it is finalized and receipted
must be done:
A) At the title company on the original contract
B) On an amendment
C) On the 3rd Party Financing Addendum
D) On a real estate change form - Correct Answer ✔️✔️B)
On an amendment
A TREC promulgated (declaration)Farm and Ranch contract can
include:
A) Buildings
,B) Crops
C) Equipment
D) All of the above - Correct Answer ✔️✔️D) All of the
above
What must a Buyer's Representation Agreement have?
A) Fair Housing disclosure
B) An attachment from a mortgage company regarding buyer's
qualifications for a loan
C) A termination date
D) none of the above - Correct Answer ✔️✔️C) A
termination date
Who is designated as responsible for promptly sending a copy of the
contract to any attorneys that are named in the contract?
,A) The title company
B) The lender
C) The broker
D) The buyer - Correct Answer ✔️✔️C) The broker
According to the Real Estate License Act of Texas, which one of the
following actions is a fair and impartial act for an Intermediary?
A) Appointing associated licensees to work with the parties
B) Appointing subagents to work with the parties
C) Agreeing to represent only the owner
D) Agreeing to represent only the buyer - Correct Answer ✔️
✔️A) Appointing associated licensees to work with the parties
, When electing to use the option paragraph of the contract, the buyer
may, within the time specified in the paragraph, do any of the
following EXCEPT:
A) Complete the repairs himself before the end of the option period
B) Terminate the contract
C) Do nothing and proceed to closing
D) Amend the contract waiving the right to terminate - Correct
Answer ✔️✔️A) Complete the repairs himself before the end of
the option period
A Buyer/Tenant Representation Agreement is only available through
the Texas Real Estate Commission (TREC)
A) True
