Champions TX Real Estate Property Management SAE
Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct
COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update
1. Combined TILA and RESPA into TRID - Correct Answer: Dodd-Frank Act (the Wall
Street Reform and Consumer Protection Act)
2. Price divided by rent equals - Correct Answer: Gross income multiplier
3. A broker can offer a guaranteed buyback of a property after ___ yr pd of ownership -
Correct Answer: 2
4. The borrower has __ days after receiving LE to respond to lender - Correct Answer:
10
5. In blanket loan. Allows borrower to obtain partial releases of specific lots by making
required lump sum parts - Correct Answer: Release clause
6. Loan with interest only at the end of the term - Correct Answer: Term Loan
7. The buyer has had inspections and is not pleased with the results. They terminate the
contract to buy meaning that his contract had what? - Correct Answer: Due diligence
Clause
8. What did the Dodd Frank Act combine TILA and RESPA into? - Correct Answer: TRID
,9. When do you pay interest in a term loan? - Correct Answer: At the end of the term
10. What is the fee that the mortgagee (lender) pays? - Correct Answer: Interest rate
they charge
11. Mortgage that allows homeowners 62 plus to borrow against their equity - Correct
Answer: Reserve annuity mortgage
12. A reverse annuity morgage is for homeowners what age and older? - Correct
Answer: 62
13. A builder has a blanket loan o a parcel of land and sells a lot from the parcel. How can he
deliver the deed at closing? - Correct Answer: He pays off the cost of the lot
14. Clause in deed of trust that allows for non judicial foreclosure - Correct Answer:
Power of sale
15. When is Mortgage Insurance Premium paid? - Correct Answer: Monthly
16. Allows lender to raise interest rate - Correct Answer: Escalation clause
17. States lien is defeated when debt is repaid - Correct Answer: Defeasible Clause
18. How many brokers are in TREC? - Correct Answer: 6
19. How many members are there in the broker laywer committee? - Correct Answer: 13
,20. An aggrieved party may collect treble damages up to how much per lawsuit? -
Correct Answer: 50,000
21. A aggrieved party may collect treble damages up to how much per license number -
Correct Answer: 100,000
22. Prohibits lenders to discriminate - Correct Answer: ECOA (Equal Credit Opportunity
Act of 1974)
23. People who are engaged in Real Estate brokerage without a license can be charged no
more than how much in fines? - Correct Answer: 4000
24. How may points does a broker need? - Correct Answer: 3600 points
25. Where is a hearing for revocation or suspension held? - Correct Answer: SOAH in
Austin
26. 2 or more lenders invest in one loan - Correct Answer: Participation loan (Shared
Appreciation Loan)
27. Shared Appreciation Loan - Correct Answer: Participation
28. Difference between market value and outstanding debt - Correct Answer: Equity
29. Prepaid interest and tax deductible. Raises return for lender - Correct Answer:
Discount points
, 30. Equity is the difference between market value and _______________ - Correct
Answer: Outstanding debt
31. How many public members are in the Broker Lawyer Committee and who appoints
them? - Correct Answer: 1 appointed by governor
32. The VA must be notified prior to a foreclosure by the loan servicer - Correct Answer:
Serviceman's Readjustment Act (The GI Bill)
33. RESPA good faith estimate of closing costs - Correct Answer: Loan Estimate Form
34. How many members are in TREC? - Correct Answer: 9
35. 3 trigger terms - Correct Answer: 1. interest rate 2. term of loan 3. monthly pmt amt
36. Balance of secured debt becomes due if the property is sold by mortgagor without
approval - Correct Answer: Alienation clause
37. Loans with risk based pricing; likely has a prepayment penalty - Correct Answer:
Subprime Loan
38. Regulates closing on 1-4 family residential property with federally related financing -
Correct Answer: RESPA
39. Nickname - Correct Answer: Alternate name
Comprehensive Resource To Help You Ace 2026-2027 Exams Includes
Frequently Tested Questions With ELABORATED 100% Correct
COMPLETE SOLUTIONS
Guaranteed Pass First Attempt!! Current Update
1. Combined TILA and RESPA into TRID - Correct Answer: Dodd-Frank Act (the Wall
Street Reform and Consumer Protection Act)
2. Price divided by rent equals - Correct Answer: Gross income multiplier
3. A broker can offer a guaranteed buyback of a property after ___ yr pd of ownership -
Correct Answer: 2
4. The borrower has __ days after receiving LE to respond to lender - Correct Answer:
10
5. In blanket loan. Allows borrower to obtain partial releases of specific lots by making
required lump sum parts - Correct Answer: Release clause
6. Loan with interest only at the end of the term - Correct Answer: Term Loan
7. The buyer has had inspections and is not pleased with the results. They terminate the
contract to buy meaning that his contract had what? - Correct Answer: Due diligence
Clause
8. What did the Dodd Frank Act combine TILA and RESPA into? - Correct Answer: TRID
,9. When do you pay interest in a term loan? - Correct Answer: At the end of the term
10. What is the fee that the mortgagee (lender) pays? - Correct Answer: Interest rate
they charge
11. Mortgage that allows homeowners 62 plus to borrow against their equity - Correct
Answer: Reserve annuity mortgage
12. A reverse annuity morgage is for homeowners what age and older? - Correct
Answer: 62
13. A builder has a blanket loan o a parcel of land and sells a lot from the parcel. How can he
deliver the deed at closing? - Correct Answer: He pays off the cost of the lot
14. Clause in deed of trust that allows for non judicial foreclosure - Correct Answer:
Power of sale
15. When is Mortgage Insurance Premium paid? - Correct Answer: Monthly
16. Allows lender to raise interest rate - Correct Answer: Escalation clause
17. States lien is defeated when debt is repaid - Correct Answer: Defeasible Clause
18. How many brokers are in TREC? - Correct Answer: 6
19. How many members are there in the broker laywer committee? - Correct Answer: 13
,20. An aggrieved party may collect treble damages up to how much per lawsuit? -
Correct Answer: 50,000
21. A aggrieved party may collect treble damages up to how much per license number -
Correct Answer: 100,000
22. Prohibits lenders to discriminate - Correct Answer: ECOA (Equal Credit Opportunity
Act of 1974)
23. People who are engaged in Real Estate brokerage without a license can be charged no
more than how much in fines? - Correct Answer: 4000
24. How may points does a broker need? - Correct Answer: 3600 points
25. Where is a hearing for revocation or suspension held? - Correct Answer: SOAH in
Austin
26. 2 or more lenders invest in one loan - Correct Answer: Participation loan (Shared
Appreciation Loan)
27. Shared Appreciation Loan - Correct Answer: Participation
28. Difference between market value and outstanding debt - Correct Answer: Equity
29. Prepaid interest and tax deductible. Raises return for lender - Correct Answer:
Discount points
, 30. Equity is the difference between market value and _______________ - Correct
Answer: Outstanding debt
31. How many public members are in the Broker Lawyer Committee and who appoints
them? - Correct Answer: 1 appointed by governor
32. The VA must be notified prior to a foreclosure by the loan servicer - Correct Answer:
Serviceman's Readjustment Act (The GI Bill)
33. RESPA good faith estimate of closing costs - Correct Answer: Loan Estimate Form
34. How many members are in TREC? - Correct Answer: 9
35. 3 trigger terms - Correct Answer: 1. interest rate 2. term of loan 3. monthly pmt amt
36. Balance of secured debt becomes due if the property is sold by mortgagor without
approval - Correct Answer: Alienation clause
37. Loans with risk based pricing; likely has a prepayment penalty - Correct Answer:
Subprime Loan
38. Regulates closing on 1-4 family residential property with federally related financing -
Correct Answer: RESPA
39. Nickname - Correct Answer: Alternate name
