TEXAS PROMULGATED CONTRACTS LATEST ACTUAL
EXAM QUESTIONS AND ANSWERS SURE A+
✔✔What law requires any amendment or addenda used must be in writing and signed
by both parties to be enforceable? - ✔✔Statute of Frauds
✔✔Which of the following is the correct definition of the "Four Corners Doctrine"? -
✔✔The interpretation of any disputed clause in a contract will be influenced by the
document as a whole.
✔✔What rule in contract cases prevents a party to a written contract from presenting
oral evidence that contradicts or adds to the written terms of the contract that appears to
be whole? - ✔✔Parol Evidence Rule
✔✔How long is the Statute of Limitations for a written contract in Texas? - ✔✔Four
years
✔✔How long is the Statute of Limitations for an oral contract in Texas? - ✔✔Four years
✔✔Which of the following items would need to be disclosed by a seller prior to selling
his or her property? - ✔✔Asbestos
Lead-based paint
Mold
✔✔What type of contract dispute results in going to court and usually involves attorneys
and research? - ✔✔Litigation
✔✔How difficult was the real estate license to acquire prior to the 1930's? - ✔✔There
was no test.
, ✔✔The Texas Real Estate License Act was formerly known as - ✔✔the Real Estate
Dealer's License Act.
✔✔What damages could a seller possibly claim if the buyer is in breach of contract? -
✔✔Loss of marketing time
Any fees actually paid
Mental duress
✔✔What might be a reason for the necessity to change the closing date of a contract? -
✔✔The repairs will take longer than anticipated.
The seller needs more time to find another home.
The buyer cannot get out of his or her lease.
✔✔What repairs might be noted on the Texas Real Estate Commission Amendment to
Contract? - ✔✔Swimming pool has missing tiles that are to be replaced.
The sink in the main bathroom is cracked and is to be replaced.
Fix leaky pipe in the laundry room.
✔✔How many amendments are allowed on a valid contract? - ✔✔Multiple
✔✔What is the legal age in Texas to enter into a valid, binding contract? - ✔✔18
✔✔Which of these forms is a Texas Real Estate Commission (TREC) promulgated
form? - ✔✔New Home Contract (Completed Construction)
✔✔If both the buyer and seller agree to have the real estate professional write a
contract for their specific situation and will put this request in writing, can the agent then
write the contract for the customers? - ✔✔Not under any circumstances
✔✔Which of the following is true? - ✔✔A real estate licensee may give advice to their
clients
✔✔What is an error in the meaning of words, laws, or facts which causes one or both
parties to enter into the contract without fully understanding the outcomes or
responsibilities implied by the contract? - ✔✔Mistake
✔✔Which of the following is a real estate agent not allowed to do? - ✔✔An agent acting
properly should always include all names including nick names and fictitious names as
well as full names for the parties of a contract.
✔✔What law prohibits price fixing? - ✔✔The Sherman Anti-Trust Act?
EXAM QUESTIONS AND ANSWERS SURE A+
✔✔What law requires any amendment or addenda used must be in writing and signed
by both parties to be enforceable? - ✔✔Statute of Frauds
✔✔Which of the following is the correct definition of the "Four Corners Doctrine"? -
✔✔The interpretation of any disputed clause in a contract will be influenced by the
document as a whole.
✔✔What rule in contract cases prevents a party to a written contract from presenting
oral evidence that contradicts or adds to the written terms of the contract that appears to
be whole? - ✔✔Parol Evidence Rule
✔✔How long is the Statute of Limitations for a written contract in Texas? - ✔✔Four
years
✔✔How long is the Statute of Limitations for an oral contract in Texas? - ✔✔Four years
✔✔Which of the following items would need to be disclosed by a seller prior to selling
his or her property? - ✔✔Asbestos
Lead-based paint
Mold
✔✔What type of contract dispute results in going to court and usually involves attorneys
and research? - ✔✔Litigation
✔✔How difficult was the real estate license to acquire prior to the 1930's? - ✔✔There
was no test.
, ✔✔The Texas Real Estate License Act was formerly known as - ✔✔the Real Estate
Dealer's License Act.
✔✔What damages could a seller possibly claim if the buyer is in breach of contract? -
✔✔Loss of marketing time
Any fees actually paid
Mental duress
✔✔What might be a reason for the necessity to change the closing date of a contract? -
✔✔The repairs will take longer than anticipated.
The seller needs more time to find another home.
The buyer cannot get out of his or her lease.
✔✔What repairs might be noted on the Texas Real Estate Commission Amendment to
Contract? - ✔✔Swimming pool has missing tiles that are to be replaced.
The sink in the main bathroom is cracked and is to be replaced.
Fix leaky pipe in the laundry room.
✔✔How many amendments are allowed on a valid contract? - ✔✔Multiple
✔✔What is the legal age in Texas to enter into a valid, binding contract? - ✔✔18
✔✔Which of these forms is a Texas Real Estate Commission (TREC) promulgated
form? - ✔✔New Home Contract (Completed Construction)
✔✔If both the buyer and seller agree to have the real estate professional write a
contract for their specific situation and will put this request in writing, can the agent then
write the contract for the customers? - ✔✔Not under any circumstances
✔✔Which of the following is true? - ✔✔A real estate licensee may give advice to their
clients
✔✔What is an error in the meaning of words, laws, or facts which causes one or both
parties to enter into the contract without fully understanding the outcomes or
responsibilities implied by the contract? - ✔✔Mistake
✔✔Which of the following is a real estate agent not allowed to do? - ✔✔An agent acting
properly should always include all names including nick names and fictitious names as
well as full names for the parties of a contract.
✔✔What law prohibits price fixing? - ✔✔The Sherman Anti-Trust Act?
