ACEABLE AGENT TEXAS PROMULGATED
CONTRACTS COMPREHENSIVE EXAM
TEST PAPER WITH SOLVED QUESTIONS
◉ Blockbusting
Answer: phrase for encouraging the panic selling of homes at
below their market value
◉ Vertical land description
Answer: land description is used for elevated areas such as in a
condo
◉ 200 acres for families, 100 acres for individuals
Answer: limit on a rural homestead is currently
◉ written consent from both parties
Answer: equired for a broker to act as an intermediary in a real
estate transaction
◉ Community Reinvestment Act
Answer: ensure credit availability in all communities regardless of
how wealthy
◉ general creditors, but not from mortgage or tax foreclosure
, Answer: Texas homestead laws would protect a primary residence
from being seized and used as collateral by
◉ Riparian rights
Answer: Wesley just bought a house with a creek that flows along
the south boundary. He wants to use the water to irrigate his
garden. Through which set of rights is he entitled to use this
water?
◉ Duty of Liability
Answer: duties is NOT one that an agent owes to a client
◉ inform Nancy that this advice should come from an insurance
professional
Answer: Buyer Nancy has asked her agent, Brad, which of the
homeowner's insurance policies she has examined are best for
her. Brad's best course of action would be to:
◉ easement by necessity
Answer: Carla's parcel of land becomes "landlocked" by a
surrounding property after a sale. Which scenario is MOST likely?
◉ designated his sales agent as his Power of Attorney.
Answer: Charles is currently living in London, but is hoping to
close on a property he's interested in in San Francisco. He is tied
up with work, and won't be able to make it to the closing, so he
CONTRACTS COMPREHENSIVE EXAM
TEST PAPER WITH SOLVED QUESTIONS
◉ Blockbusting
Answer: phrase for encouraging the panic selling of homes at
below their market value
◉ Vertical land description
Answer: land description is used for elevated areas such as in a
condo
◉ 200 acres for families, 100 acres for individuals
Answer: limit on a rural homestead is currently
◉ written consent from both parties
Answer: equired for a broker to act as an intermediary in a real
estate transaction
◉ Community Reinvestment Act
Answer: ensure credit availability in all communities regardless of
how wealthy
◉ general creditors, but not from mortgage or tax foreclosure
, Answer: Texas homestead laws would protect a primary residence
from being seized and used as collateral by
◉ Riparian rights
Answer: Wesley just bought a house with a creek that flows along
the south boundary. He wants to use the water to irrigate his
garden. Through which set of rights is he entitled to use this
water?
◉ Duty of Liability
Answer: duties is NOT one that an agent owes to a client
◉ inform Nancy that this advice should come from an insurance
professional
Answer: Buyer Nancy has asked her agent, Brad, which of the
homeowner's insurance policies she has examined are best for
her. Brad's best course of action would be to:
◉ easement by necessity
Answer: Carla's parcel of land becomes "landlocked" by a
surrounding property after a sale. Which scenario is MOST likely?
◉ designated his sales agent as his Power of Attorney.
Answer: Charles is currently living in London, but is hoping to
close on a property he's interested in in San Francisco. He is tied
up with work, and won't be able to make it to the closing, so he
