TEXAS PROMULGATED CONTRACTS-CHAMPIONS EXAM
2025/2026 WITH 100% ACCURATE ANSWERS
1. Describe the significance of the T-47 Residential Real Property Affidavit in
real estate transactions.
The T-47 Residential Real Property Affidavit is a document that is
completed after the funding of a property.
The T-47 Residential Real Property Affidavit is used to negotiate
financing terms.
The T-47 Residential Real Property Affidavit is only relevant during
the inspection phase of a property.
The T-47 Residential Real Property Affidavit is significant because
it provides necessary disclosures about the property, ensuring
compliance with legal standards before closing.
2. What form should be used if a seller wants to occupy the property for two
days after closing?
Oral agreement
Seller's Temporary Residential Lease form
Periodic tenancy agreement
Special provisions paragraph
3. Which of the following statements is true regarding the closing date in a
real estate transaction?
The closing date is negotiated by the buyer and the seller
,The closing date is an 'on or before' date
The closing date may be extended in some cases
, All of the above
4. Interpret the implications of checking Paragraph B(2) in relation to the
seller's rights over the mineral estate.
The seller reserves 50% of whatever mineral estate the seller owns
as of the closing date.
The seller reserves all mineral rights regardless of ownership.
The seller has no rights to the mineral estate after the closing date.
The seller reserves 50% of the total mineral estate without regard to
ownership.
5. According to TRELA, license holders MUST advise buyers that they should:
have a new survey ordered on the property
get a title insurance policy
get a written copy of the homeowners association rules
test all smoke detectors
6. If a real estate agent chooses not to use TREC promulgated contract forms,
what might be a potential consequence?
Increased risk of legal disputes due to non-standardized
agreements.
Guaranteed compliance with state regulations.
Lower transaction costs for clients.
Easier negotiation processes with clients.
, 7. What types of information can be included in the special provisions
paragraph of a real estate contract?
Factual business details
Statements not addressed in the contract
Information for which there is no TREC promulgated addendum,
lease or mandatory form
All of the above
8. Describe a scenario in which a Seller's Disclosure Notice would not be
required and explain why.
A Seller's Disclosure Notice is not required when the property is
sold to an investor because investors are presumed to know the
risks.
A Seller's Disclosure Notice is not required when the property is
sold 'as is' because the buyer accepts the property in its current
condition without expecting disclosures about its state.
A Seller's Disclosure Notice is not required when the property has
an out of state owner because the owner is not present to provide
information.
A Seller's Disclosure Notice is not required when the property being
sold is a previously unoccupied new home due to its new condition.
9. An offer can be communicated by ____.
An offer may be communicated by any of these methods
E-mail
Phone
2025/2026 WITH 100% ACCURATE ANSWERS
1. Describe the significance of the T-47 Residential Real Property Affidavit in
real estate transactions.
The T-47 Residential Real Property Affidavit is a document that is
completed after the funding of a property.
The T-47 Residential Real Property Affidavit is used to negotiate
financing terms.
The T-47 Residential Real Property Affidavit is only relevant during
the inspection phase of a property.
The T-47 Residential Real Property Affidavit is significant because
it provides necessary disclosures about the property, ensuring
compliance with legal standards before closing.
2. What form should be used if a seller wants to occupy the property for two
days after closing?
Oral agreement
Seller's Temporary Residential Lease form
Periodic tenancy agreement
Special provisions paragraph
3. Which of the following statements is true regarding the closing date in a
real estate transaction?
The closing date is negotiated by the buyer and the seller
,The closing date is an 'on or before' date
The closing date may be extended in some cases
, All of the above
4. Interpret the implications of checking Paragraph B(2) in relation to the
seller's rights over the mineral estate.
The seller reserves 50% of whatever mineral estate the seller owns
as of the closing date.
The seller reserves all mineral rights regardless of ownership.
The seller has no rights to the mineral estate after the closing date.
The seller reserves 50% of the total mineral estate without regard to
ownership.
5. According to TRELA, license holders MUST advise buyers that they should:
have a new survey ordered on the property
get a title insurance policy
get a written copy of the homeowners association rules
test all smoke detectors
6. If a real estate agent chooses not to use TREC promulgated contract forms,
what might be a potential consequence?
Increased risk of legal disputes due to non-standardized
agreements.
Guaranteed compliance with state regulations.
Lower transaction costs for clients.
Easier negotiation processes with clients.
, 7. What types of information can be included in the special provisions
paragraph of a real estate contract?
Factual business details
Statements not addressed in the contract
Information for which there is no TREC promulgated addendum,
lease or mandatory form
All of the above
8. Describe a scenario in which a Seller's Disclosure Notice would not be
required and explain why.
A Seller's Disclosure Notice is not required when the property is
sold to an investor because investors are presumed to know the
risks.
A Seller's Disclosure Notice is not required when the property is
sold 'as is' because the buyer accepts the property in its current
condition without expecting disclosures about its state.
A Seller's Disclosure Notice is not required when the property has
an out of state owner because the owner is not present to provide
information.
A Seller's Disclosure Notice is not required when the property being
sold is a previously unoccupied new home due to its new condition.
9. An offer can be communicated by ____.
An offer may be communicated by any of these methods
Phone
