AYPO Real Estate Promulgated Contracts Final Exam Review | 2025-2026
LATEST UPDATED|110 ACTUAL EXAM COMPLETE QUESTIONS AND
ANSWERS | 100% RATED CORRECT | 100% VERFIED | ALREADY
GRADED A+
Which of these is an exemption to the "legal capacity" requirement to form a
contract? - (answer)A contract for a life necessity.
A contract for non-life necessities with a person lacking legal capacity is: -
(answer)Voidable
A contract for deed is a classic example of a(n): - (answer)Executory contract
An option is a form of which kind of contract? - (answer)Unilateral
According to TREC a "reasonable time" within which to deposit the escrow check
is: - (answer)By the end of the second business day following formation of the
contract.
,An attachment added to the end of a contract and incorporated in the contract terms
is called an: - (answer)Addendum
An assignment of rights is: - (answer)A transfer of rights or duties under a contract
from a current party to a contract to another party.
An oral contract for the lease of a property for one year or less has a statute of
limitation of: - (answer)Two years
Which of these IS NOT a potential reason for terminating a contract? -
(answer)Specific performance
The Real Estate License Act was created to: - (answer)1. Maintain high standards
in the real estate profession.
2. Protect licensed brokers and salespersons from unfair or improper competition.
3. Protect the public interests from dishonest or incompetent brokers or
salespersons.
, The unauthorized practice of law would include all of these actions by a licensee,
except: - (answer)Inserting minor handwritten notes on the contract initialed by all
parties.
The Broker-Lawyer Committee: - (answer)Develops forms for TREC to adopt and
promulgate at their discretion.
The current One to Four Family Residential Contract (Resale) is which of these
form numbers? - (answer)20-16
What is/are the seller's options when receiving an offer? - (answer)1. Counter.
2. Accept.
3. Reject.
The offer becomes a sales contract when: - (answer)It is accepted, signed by the
seller, and acceptance communicated to the buyer or buyer's agent.
LATEST UPDATED|110 ACTUAL EXAM COMPLETE QUESTIONS AND
ANSWERS | 100% RATED CORRECT | 100% VERFIED | ALREADY
GRADED A+
Which of these is an exemption to the "legal capacity" requirement to form a
contract? - (answer)A contract for a life necessity.
A contract for non-life necessities with a person lacking legal capacity is: -
(answer)Voidable
A contract for deed is a classic example of a(n): - (answer)Executory contract
An option is a form of which kind of contract? - (answer)Unilateral
According to TREC a "reasonable time" within which to deposit the escrow check
is: - (answer)By the end of the second business day following formation of the
contract.
,An attachment added to the end of a contract and incorporated in the contract terms
is called an: - (answer)Addendum
An assignment of rights is: - (answer)A transfer of rights or duties under a contract
from a current party to a contract to another party.
An oral contract for the lease of a property for one year or less has a statute of
limitation of: - (answer)Two years
Which of these IS NOT a potential reason for terminating a contract? -
(answer)Specific performance
The Real Estate License Act was created to: - (answer)1. Maintain high standards
in the real estate profession.
2. Protect licensed brokers and salespersons from unfair or improper competition.
3. Protect the public interests from dishonest or incompetent brokers or
salespersons.
, The unauthorized practice of law would include all of these actions by a licensee,
except: - (answer)Inserting minor handwritten notes on the contract initialed by all
parties.
The Broker-Lawyer Committee: - (answer)Develops forms for TREC to adopt and
promulgate at their discretion.
The current One to Four Family Residential Contract (Resale) is which of these
form numbers? - (answer)20-16
What is/are the seller's options when receiving an offer? - (answer)1. Counter.
2. Accept.
3. Reject.
The offer becomes a sales contract when: - (answer)It is accepted, signed by the
seller, and acceptance communicated to the buyer or buyer's agent.
