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Promulgated Contract Forms
(Champions) Exam-2026 |Actual
Complete Questions With Verified
Solutions
acceptance - correct-answer -means that the accepting party does so with no
change to the contract whatsoever
net sheet - correct-answer -an estimate of the net proceeds to the seller and
should be prepared based upon the offer being considered
Broker-Lawyer committee - correct-answer -13 members; write residential
contract forms that are generally mandatory for license holders
TREC - correct-answer -comprised of 9 members
communication - correct-answer -also referred to as notification
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imputed notice - correct-answer -under this concept, an offer is presumed to have
been delivered to the principal when it is delivered to the agent
Paragraph 2.(A) - correct-answer -Sales Price is the sum of 3.A and 3.B
Paragraph 2.(B) - correct-answer -includes the improvements, including the
house, garage and other permanently installed and built-in items
Paragraph 2.(C) - correct-answer -describes accessories which are commonly
conveyed
Paragraph 2.(D) - correct-answer -exclusions to the sale. If item is to be excluded,
give name and location
Paragraph 3.(A) - correct-answer -down payment is always the difference between
the sales price and sum of all financing
Promulgated Contract Forms
(Champions) Exam-2026 |Actual
Complete Questions With Verified
Solutions
acceptance - correct-answer -means that the accepting party does so with no
change to the contract whatsoever
net sheet - correct-answer -an estimate of the net proceeds to the seller and
should be prepared based upon the offer being considered
Broker-Lawyer committee - correct-answer -13 members; write residential
contract forms that are generally mandatory for license holders
TREC - correct-answer -comprised of 9 members
communication - correct-answer -also referred to as notification
, 2|Page
imputed notice - correct-answer -under this concept, an offer is presumed to have
been delivered to the principal when it is delivered to the agent
Paragraph 2.(A) - correct-answer -Sales Price is the sum of 3.A and 3.B
Paragraph 2.(B) - correct-answer -includes the improvements, including the
house, garage and other permanently installed and built-in items
Paragraph 2.(C) - correct-answer -describes accessories which are commonly
conveyed
Paragraph 2.(D) - correct-answer -exclusions to the sale. If item is to be excluded,
give name and location
Paragraph 3.(A) - correct-answer -down payment is always the difference between
the sales price and sum of all financing
