TREC PROMULGATED CONTRACT FORMS 351 FINAL EXAM
LATEST ACTUAL EXAM 210 QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS)
The term that states the house purchase is dependent on the buyer obtaining a loan
from a lender is called: - ANSWER: loan contingency clause
Sam receives an offer on his property. The potential buyer would like the house but
offers $40,000 less than Sam's listed price. Sam said no, but offered a price $20,000
less. The buyer's original offer is now: - ANSWER: void
John bought a home from an heir who inherited the house. Unfortunately, the heir
was 17 at the time of purchase. This means that John is: - ANSWER: bound to the
contract
Jason drugged his neighbor Tim and told him to sign the easement papers. This is an
example of a(an): - ANSWER: a void contract
Hiding information is called: - ANSWER: concealment
When a buyer agrees to buy the listed property, this begins what requirement to
make the contract valid? - ANSWER: offer and acceptance
When making an offer to buy, it helps to: - ANSWER: set a specific time limit on the
offer
Gus wants to buy a listed home, but only if he can build a shop to repair his
equipment. What should the broker use to make sure Gus can find out if a shop can
be built? - ANSWER: contract contingency
Which is not a requirements of a valid real estate contract? - ANSWER: incompetent
parties
The buyer returns the seller's offer with changes. The seller does not agree with the
changes. The buyer then requests the seller agree to the original offer. What is the
status of the earlier offer? - ANSWER: If the seller puts in writing they will accept the
original offer and the buyer accepts this in writing, it would be considered a new and
accepted offer
If a buyer failed to meet the terms of the contract the buyer becomes a: - ANSWER:
default buyer
In Texas, if an offer is drawn up by the buyer and his/her agent without an expiration
date then the offer could be valid for: - ANSWER: 4 years
, The legal term that denotes that all the contract terms have been met by the parties
is called: - ANSWER: performance
If the requirements are not met by either party to a contract then: - ANSWER: A
possible injury exists to the performing party
When there is a problem that prevents the seller from providing a general warranty
deed it is usually discovered during: - ANSWER: Escrow
Title Search
Chain of Title
When there are changes made to a purchase and sale contract, in Texas this is
called? - ANSWER: Amendments
To amend means to: - ANSWER: change
The term that means the time period during which a party may file a civil lawsuit for
injury: - ANSWER: statue of limitations
The State's Statute of Limitations time period is decided by: - ANSWER: the state
When all parties to a contract have brought forth all their requirements, they have
said to have: - ANSWER: performed
An applicant for a salesperson license needs to complete which of the following
educational courses? - ANSWER: Agency Law
Contract Law
Contract Forms and Addendums
Barbara is a designated broker for Even Realty. She had a disagreement with the
unlicensed owners and pulled her license. All the salespersons: - ANSWER: cease real
estate activities
An example of an alternative experience that may help the applicant be approved to
be a broker in Texas is: - ANSWER: Currently a licensed broker in another state
What happens if there is a vacancy on Broker-Lawyer Committee during a member's
term? - ANSWER: The entity making the original appointment shall appoint a new
person to fill the unexpired term
The Department of Public Safety does which of the following for the Texas Real
Estate Commission? - ANSWER: criminal back ground checks for the licensees
Jerry has 5 years of active experience as a licensed salesperson. How many more
hours of experience is necessary to apply for the broker license? - ANSWER: zero
LATEST ACTUAL EXAM 210 QUESTIONS AND CORRECT
DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS)
The term that states the house purchase is dependent on the buyer obtaining a loan
from a lender is called: - ANSWER: loan contingency clause
Sam receives an offer on his property. The potential buyer would like the house but
offers $40,000 less than Sam's listed price. Sam said no, but offered a price $20,000
less. The buyer's original offer is now: - ANSWER: void
John bought a home from an heir who inherited the house. Unfortunately, the heir
was 17 at the time of purchase. This means that John is: - ANSWER: bound to the
contract
Jason drugged his neighbor Tim and told him to sign the easement papers. This is an
example of a(an): - ANSWER: a void contract
Hiding information is called: - ANSWER: concealment
When a buyer agrees to buy the listed property, this begins what requirement to
make the contract valid? - ANSWER: offer and acceptance
When making an offer to buy, it helps to: - ANSWER: set a specific time limit on the
offer
Gus wants to buy a listed home, but only if he can build a shop to repair his
equipment. What should the broker use to make sure Gus can find out if a shop can
be built? - ANSWER: contract contingency
Which is not a requirements of a valid real estate contract? - ANSWER: incompetent
parties
The buyer returns the seller's offer with changes. The seller does not agree with the
changes. The buyer then requests the seller agree to the original offer. What is the
status of the earlier offer? - ANSWER: If the seller puts in writing they will accept the
original offer and the buyer accepts this in writing, it would be considered a new and
accepted offer
If a buyer failed to meet the terms of the contract the buyer becomes a: - ANSWER:
default buyer
In Texas, if an offer is drawn up by the buyer and his/her agent without an expiration
date then the offer could be valid for: - ANSWER: 4 years
, The legal term that denotes that all the contract terms have been met by the parties
is called: - ANSWER: performance
If the requirements are not met by either party to a contract then: - ANSWER: A
possible injury exists to the performing party
When there is a problem that prevents the seller from providing a general warranty
deed it is usually discovered during: - ANSWER: Escrow
Title Search
Chain of Title
When there are changes made to a purchase and sale contract, in Texas this is
called? - ANSWER: Amendments
To amend means to: - ANSWER: change
The term that means the time period during which a party may file a civil lawsuit for
injury: - ANSWER: statue of limitations
The State's Statute of Limitations time period is decided by: - ANSWER: the state
When all parties to a contract have brought forth all their requirements, they have
said to have: - ANSWER: performed
An applicant for a salesperson license needs to complete which of the following
educational courses? - ANSWER: Agency Law
Contract Law
Contract Forms and Addendums
Barbara is a designated broker for Even Realty. She had a disagreement with the
unlicensed owners and pulled her license. All the salespersons: - ANSWER: cease real
estate activities
An example of an alternative experience that may help the applicant be approved to
be a broker in Texas is: - ANSWER: Currently a licensed broker in another state
What happens if there is a vacancy on Broker-Lawyer Committee during a member's
term? - ANSWER: The entity making the original appointment shall appoint a new
person to fill the unexpired term
The Department of Public Safety does which of the following for the Texas Real
Estate Commission? - ANSWER: criminal back ground checks for the licensees
Jerry has 5 years of active experience as a licensed salesperson. How many more
hours of experience is necessary to apply for the broker license? - ANSWER: zero
