2025/2026 ACTUAL COMPLETE 100 REAL EXAM QUESTIONS
AND CORRECT DETAILED ANSWERS ALREADY A GRADED
TOP RATED VERSION FOR | NEW AND REVISED .
Which of these professions is NOT regulated by the TREC? -
ANSWER-Home mortgage lenders
Which of these might a certificate of title include? - ANSWER-1.
Outstanding judgments against owner
2. Descriptions of any buildings on the property
3. Claims against the property
The TREC has interpreted "in a timely manner" of the escrow
deposit to be: - ANSWER-By the end of the second business
day following final signing of the offer/contract agreement.
Which of the following is one of the steps on the checklist? -
ANSWER-1.
Definite closing date, time, and place set with notice to buyer
and seller.
2. Copy of contract sent to all parties including closing
agent/title company.
, 3. Closing agent obtains payoff figures for any existing
mortgages.
Lenders will look at which of these factors when considering
whether to approve a loan: - ANSWER-1. Capacity
2. Capital
"Consummation" as used here refers to: - ANSWER-The
specific point in time where the borrower becomes
contractually obligated to the lender.
Which of the following is NOT listed among the special
inspections? - ANSWER-Home appliances
A new survey is not essential if: - ANSWER-An existing survey
is agreed to by all parties in the transaction, including the
lender and title company.
The Buyer takes possession of a home with 60 days left to go in
the property tax year. Based on a 360-day year, Seller has
already paid $2400 for the year.
How much does Buyer owe Seller at closing? - ANSWER-$400
Which of these is/are not considered to be "closing costs"? -
ANSWER-Broker's commissions