AYPO
AYPO Real Estate Law of Contracts Exam Study
Questions and Answers 2025
An advantage to buyers in a lease-purchase option is which of the following? -
Correct Answer ✔It can be easier for a difficult to qualify buyer to purchase a
home with a lower down payment.
Eminent domain in Texas MAY NOT be used for which of these purposes? -
Correct Answer ✔Private party uses.
Graduated and index leases are what types of leases? -Correct Answer ✔Variable.
A "mirror" will be a: -Correct Answer ✔Reciprocal will.
Under a land sales contract which of the following statements is accurate? (Best
answer.) -Correct Answer ✔All of these are accurate.
Which type of listing agreement is the only one to guarantee the broker a
commission in the event of a successful sale? -Correct Answer ✔Exclusive-right-
to-sell
A Deed of Trust allows for what type of foreclosure? -Correct Answer ✔Non-
judicial
Once the offer to purchase and all details and contingencies are agreed upon, and
all parties are signed, which of these should happen next? -Correct Answer ✔All of
these.
A title search includes a searching of public records to determine these issues,
except for: -Correct Answer ✔Credit history of the potential buyer.
Which of these might a certificate of title include? -Correct Answer ✔Any of these
Contingencies are best described by which of the following? -Correct Answer
✔Specific events of conditions that must occur or be removed for the
offer/purchase agreement to be valid.
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Oral agreements in relation to business purchases or hiring of services can be
enforceable under which of these circumstances? -Correct Answer ✔If the words
used can be proven and the intent reasonably discerned from those words.
A non-exclusive/not for compensation buyer- broker agreement: -Correct Answer
✔all of these
For leases lasting less than ____, oral agreements can be enforceable. -Correct
Answer ✔One year
Which of these provides the broadest definition of land, property, and ownership
rights? -Correct Answer ✔Real Property.
For a valid contractual offer, the offer must do all except which of the following? -
Correct Answer ✔Provide terms for an acceptable counter offer.
Which of these would NOT be a requirement to create a valid lease agreement? -
Correct Answer ✔Financing disclosure
Fee simple determinable and fee simple subject to a condition subsequent are the
two forms of: -Correct Answer ✔Fee simple defeasible estates
_________________ is a form of ownership held by one party. -Correct Answer
✔Severalty
Which of these IS NOT listed among the special inspections? -Correct Answer
✔Home appliances
Earnest money is a prospective buyer's demonstration of which of the following? -
Correct Answer ✔Both of these.
An encumbrance is a(n) ________ real property. -Correct Answer ✔All of these
Once signed by borrowers, the note is which of the following? -Correct Answer
✔A fully enforceable and negotiable instrument of debt.
AYPO
AYPO Real Estate Law of Contracts Exam Study
Questions and Answers 2025
An advantage to buyers in a lease-purchase option is which of the following? -
Correct Answer ✔It can be easier for a difficult to qualify buyer to purchase a
home with a lower down payment.
Eminent domain in Texas MAY NOT be used for which of these purposes? -
Correct Answer ✔Private party uses.
Graduated and index leases are what types of leases? -Correct Answer ✔Variable.
A "mirror" will be a: -Correct Answer ✔Reciprocal will.
Under a land sales contract which of the following statements is accurate? (Best
answer.) -Correct Answer ✔All of these are accurate.
Which type of listing agreement is the only one to guarantee the broker a
commission in the event of a successful sale? -Correct Answer ✔Exclusive-right-
to-sell
A Deed of Trust allows for what type of foreclosure? -Correct Answer ✔Non-
judicial
Once the offer to purchase and all details and contingencies are agreed upon, and
all parties are signed, which of these should happen next? -Correct Answer ✔All of
these.
A title search includes a searching of public records to determine these issues,
except for: -Correct Answer ✔Credit history of the potential buyer.
Which of these might a certificate of title include? -Correct Answer ✔Any of these
Contingencies are best described by which of the following? -Correct Answer
✔Specific events of conditions that must occur or be removed for the
offer/purchase agreement to be valid.
AYPO
, AYPO
Oral agreements in relation to business purchases or hiring of services can be
enforceable under which of these circumstances? -Correct Answer ✔If the words
used can be proven and the intent reasonably discerned from those words.
A non-exclusive/not for compensation buyer- broker agreement: -Correct Answer
✔all of these
For leases lasting less than ____, oral agreements can be enforceable. -Correct
Answer ✔One year
Which of these provides the broadest definition of land, property, and ownership
rights? -Correct Answer ✔Real Property.
For a valid contractual offer, the offer must do all except which of the following? -
Correct Answer ✔Provide terms for an acceptable counter offer.
Which of these would NOT be a requirement to create a valid lease agreement? -
Correct Answer ✔Financing disclosure
Fee simple determinable and fee simple subject to a condition subsequent are the
two forms of: -Correct Answer ✔Fee simple defeasible estates
_________________ is a form of ownership held by one party. -Correct Answer
✔Severalty
Which of these IS NOT listed among the special inspections? -Correct Answer
✔Home appliances
Earnest money is a prospective buyer's demonstration of which of the following? -
Correct Answer ✔Both of these.
An encumbrance is a(n) ________ real property. -Correct Answer ✔All of these
Once signed by borrowers, the note is which of the following? -Correct Answer
✔A fully enforceable and negotiable instrument of debt.
AYPO
