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AYPO REAL ESTATE PROMULGATED CONTRACTS EXAM
NEWEST EXAM 2025/2026 NEWEST ACTUAL EXAM WITH
COMPLETE QUESTIONS AND VERIFIED ANSWERS
|ALREADY GRADED A+|
In most circumstances, the licensee will obtain two checks from
the prospective buyer when writing the offer:
a. One for earnest money payable to the escrow or title company,
and one for the option money payable to the seller
b. One for broker's fees, and one for the option money payable to
the seller
c. One for earnest money payable to the escrow or title company,
and one for the title policy
d. One for earnest money payable to the escrow or title company,
and one for broker's fees - ANSWER-a. One for earnest money
payable to the escrow or title company, and one for the option
money payable to the seller
Which of these IS NOT required to have a valid executed date?
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a. Notarized third-party witness
b. A written agreement signed by all parties
c. Initials by both parties on any and all changes
d. Clear and unambiguous language forming the agreement -
ANSWER-a. Notarized third-party witness
The Short Sale Addendum protects both the buyer and seller
because of which of these?
a. Both of these reasons
b. The addendum dictates that the contract is binding on the
lender regardless of their approval
c. Neither of these reasons
d. The parties have contractually agreed performance
requirements and seller's ability to perform these obligations is
subject to lender approval - ANSWER-d. The parties have
contractually agreed performance requirements and seller's ability
to perform these obligations is subject to lender approval
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If a buyer is required to put 20% down on a $240,000 offering
price, how much do they need for a down payment?
a. $54,000
b. $48,000
c. $60,000
d. $50,000 - ANSWER-b. $48,000
Paragraph 3 is different only in the Farm and Ranch Contract
because:
a. It deals with agricultural property
b. Of the size of the property
c. The sales price can be adjusted by the survey
d. Of rollback taxes - ANSWER-c. The sales price can be
adjusted by the survey
Which of the following contracts does not include rollback taxes in
§13?
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a. None of these
b. Unimproved Property Contract
c. One to Four Family Residential Contract (Resale) [TREC 1-4]
d. Farm and Ranch Contract - ANSWER-c. One to Four Family
Residential Contract (Resale) [TREC 1-4]
Which of these is generally considered to be a "seller's cost?"
a. Credit reports
b. Loan-related inspection fees
c. Releases of existing liens, including prepayment penalties and
recording fees
d. Loan application fees - ANSWER-c. Releases of existing liens,
including prepayment penalties and recording fees
To be able to effectively use the option provided under §5 Earnest
Money and termination, the option must be signed and paid for by
which of these points?
AYPO REAL ESTATE PROMULGATED CONTRACTS EXAM
NEWEST EXAM 2025/2026 NEWEST ACTUAL EXAM WITH
COMPLETE QUESTIONS AND VERIFIED ANSWERS
|ALREADY GRADED A+|
In most circumstances, the licensee will obtain two checks from
the prospective buyer when writing the offer:
a. One for earnest money payable to the escrow or title company,
and one for the option money payable to the seller
b. One for broker's fees, and one for the option money payable to
the seller
c. One for earnest money payable to the escrow or title company,
and one for the title policy
d. One for earnest money payable to the escrow or title company,
and one for broker's fees - ANSWER-a. One for earnest money
payable to the escrow or title company, and one for the option
money payable to the seller
Which of these IS NOT required to have a valid executed date?
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a. Notarized third-party witness
b. A written agreement signed by all parties
c. Initials by both parties on any and all changes
d. Clear and unambiguous language forming the agreement -
ANSWER-a. Notarized third-party witness
The Short Sale Addendum protects both the buyer and seller
because of which of these?
a. Both of these reasons
b. The addendum dictates that the contract is binding on the
lender regardless of their approval
c. Neither of these reasons
d. The parties have contractually agreed performance
requirements and seller's ability to perform these obligations is
subject to lender approval - ANSWER-d. The parties have
contractually agreed performance requirements and seller's ability
to perform these obligations is subject to lender approval
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If a buyer is required to put 20% down on a $240,000 offering
price, how much do they need for a down payment?
a. $54,000
b. $48,000
c. $60,000
d. $50,000 - ANSWER-b. $48,000
Paragraph 3 is different only in the Farm and Ranch Contract
because:
a. It deals with agricultural property
b. Of the size of the property
c. The sales price can be adjusted by the survey
d. Of rollback taxes - ANSWER-c. The sales price can be
adjusted by the survey
Which of the following contracts does not include rollback taxes in
§13?
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a. None of these
b. Unimproved Property Contract
c. One to Four Family Residential Contract (Resale) [TREC 1-4]
d. Farm and Ranch Contract - ANSWER-c. One to Four Family
Residential Contract (Resale) [TREC 1-4]
Which of these is generally considered to be a "seller's cost?"
a. Credit reports
b. Loan-related inspection fees
c. Releases of existing liens, including prepayment penalties and
recording fees
d. Loan application fees - ANSWER-c. Releases of existing liens,
including prepayment penalties and recording fees
To be able to effectively use the option provided under §5 Earnest
Money and termination, the option must be signed and paid for by
which of these points?
