PROMULGATED CONTRACTS UPDATED END OF COURSE
QUESTIONS AND ANSWERS GUARANTEE A+
✔✔Which of these IS NOT included in the Seller's Disclosure? - ✔✔Psychological
stigmas, e.g., a violent death on the property
✔✔The Environmental Assessment & Threatened or Endangered Species & Wetlands
Addendum provides assessment opportunities for: - ✔✔All of these.
✔✔Residential service companies offer home warranty contracts for maintenance,
repair, or replacement of all or any part of these, except for: - ✔✔Furniture
✔✔Texas' promulgated One to Four Family Residential Contract (Resale) §__ allows
the buyer a grace period in which they can cancel the deal without risking their escrow
deposit. - ✔✔23
✔✔A buyer who indicates that they will "accept the property in it's present condition (as
is)" is agreeing: - ✔✔That they are not asking for any repairs at this point, leaving future
repair requests open
✔✔Earnest money ________________ to make a valid offer in Texas - ✔✔Is not
required
✔✔A title endorsement: - ✔✔Is an addition or limitation of coverage that is attached to a
title insurance policy
✔✔Option fees and earnest money: - ✔✔Are very different
✔✔Texas' promulgates One To Four Family Residential Contract (Resale) §23: -
✔✔Allows the buyer a grace period in which they can cancel the deal without risking
their escrow deposit
✔✔The Notice to Prospective Buyer protects licensee by: - ✔✔Advising buyer to have
title documents reviewed by an attorney
✔✔Paragraph 10 on the TREC 1-4 covers what subject? - ✔✔Possession
✔✔According to TREC 1-4 §10.(A), any possession by Buyer prior to closing or by
Seller after closing which is not authorized by a written lease will establish: - ✔✔A
tenancy at sufferance relationship between the parties.
✔✔§11 Special Provisions of the TREC 1-4 can be used only for: - ✔✔Factual
statements and business details applicable to the sale.
, ✔✔The Sellers and Buyers Temporary Leases can be used for leasing up to: - ✔✔90
days
✔✔Which of these is generally considered to be a "seller's cost"? - ✔✔Releases of
existing liens, including prepayment penalties and recording fees
✔✔Which of these is a potential remedy for a Casualty Loss under §14 of the TREC 1-
4? - ✔✔All of these.
✔✔Which of these IS NOT listed as a potential damages item for wrongfully failing or
refusing to sign a release acceptable to the escrow agent within 7 days of receipt of the
request? - ✔✔Broker's fees
✔✔Which of these IS NOT an addendum listed in TREC 1-4 §22 Agreement of Parties?
- ✔✔Addendum for Inclusion and Exclusion of Personal Property
✔✔Unless otherwise agreed, the Option Fee must be delivered to the seller by: -
✔✔Third day after the sales contract was executed.
✔✔Which Paragraph of the TREC 1-4 contract lists the different addenda that are
available? - ✔✔§22
✔✔The settlement section of the TREC 1-4 determines: - ✔✔The costs that need to be
handles at closing and designates who is to take how much responsibility for these
costs.
✔✔If one or the other of the parties to a transaction defaults, the other party may: - ✔✔
✔✔How many promulgated sales contracts are there? - ✔✔Six
✔✔Which of these generally will not include a structure of any sort in the sale? -
✔✔Unimproved Property Contract
✔✔Which paragraph is different from the TREC 1-4 in all five of the other property sales
contracts? - ✔✔§13
✔✔Which of these IS NOT a difference between the Condominium Sales contract and
the TREC 1-4? - ✔✔Paragraph 7 disclosures.
✔✔Which of these Farm and Ranch Contract sections IS NOT distinguished from the
TREC 1-4? - ✔✔§15 Default
QUESTIONS AND ANSWERS GUARANTEE A+
✔✔Which of these IS NOT included in the Seller's Disclosure? - ✔✔Psychological
stigmas, e.g., a violent death on the property
✔✔The Environmental Assessment & Threatened or Endangered Species & Wetlands
Addendum provides assessment opportunities for: - ✔✔All of these.
✔✔Residential service companies offer home warranty contracts for maintenance,
repair, or replacement of all or any part of these, except for: - ✔✔Furniture
✔✔Texas' promulgated One to Four Family Residential Contract (Resale) §__ allows
the buyer a grace period in which they can cancel the deal without risking their escrow
deposit. - ✔✔23
✔✔A buyer who indicates that they will "accept the property in it's present condition (as
is)" is agreeing: - ✔✔That they are not asking for any repairs at this point, leaving future
repair requests open
✔✔Earnest money ________________ to make a valid offer in Texas - ✔✔Is not
required
✔✔A title endorsement: - ✔✔Is an addition or limitation of coverage that is attached to a
title insurance policy
✔✔Option fees and earnest money: - ✔✔Are very different
✔✔Texas' promulgates One To Four Family Residential Contract (Resale) §23: -
✔✔Allows the buyer a grace period in which they can cancel the deal without risking
their escrow deposit
✔✔The Notice to Prospective Buyer protects licensee by: - ✔✔Advising buyer to have
title documents reviewed by an attorney
✔✔Paragraph 10 on the TREC 1-4 covers what subject? - ✔✔Possession
✔✔According to TREC 1-4 §10.(A), any possession by Buyer prior to closing or by
Seller after closing which is not authorized by a written lease will establish: - ✔✔A
tenancy at sufferance relationship between the parties.
✔✔§11 Special Provisions of the TREC 1-4 can be used only for: - ✔✔Factual
statements and business details applicable to the sale.
, ✔✔The Sellers and Buyers Temporary Leases can be used for leasing up to: - ✔✔90
days
✔✔Which of these is generally considered to be a "seller's cost"? - ✔✔Releases of
existing liens, including prepayment penalties and recording fees
✔✔Which of these is a potential remedy for a Casualty Loss under §14 of the TREC 1-
4? - ✔✔All of these.
✔✔Which of these IS NOT listed as a potential damages item for wrongfully failing or
refusing to sign a release acceptable to the escrow agent within 7 days of receipt of the
request? - ✔✔Broker's fees
✔✔Which of these IS NOT an addendum listed in TREC 1-4 §22 Agreement of Parties?
- ✔✔Addendum for Inclusion and Exclusion of Personal Property
✔✔Unless otherwise agreed, the Option Fee must be delivered to the seller by: -
✔✔Third day after the sales contract was executed.
✔✔Which Paragraph of the TREC 1-4 contract lists the different addenda that are
available? - ✔✔§22
✔✔The settlement section of the TREC 1-4 determines: - ✔✔The costs that need to be
handles at closing and designates who is to take how much responsibility for these
costs.
✔✔If one or the other of the parties to a transaction defaults, the other party may: - ✔✔
✔✔How many promulgated sales contracts are there? - ✔✔Six
✔✔Which of these generally will not include a structure of any sort in the sale? -
✔✔Unimproved Property Contract
✔✔Which paragraph is different from the TREC 1-4 in all five of the other property sales
contracts? - ✔✔§13
✔✔Which of these IS NOT a difference between the Condominium Sales contract and
the TREC 1-4? - ✔✔Paragraph 7 disclosures.
✔✔Which of these Farm and Ranch Contract sections IS NOT distinguished from the
TREC 1-4? - ✔✔§15 Default
