Texas Promulgated Forms Exam Questions with Complete Solutions

Broker Lawyer Committee member brake down - Answer-13 members, 6 lawyers by president of state bar of texas, 6 brokers by TREC, 1 public member appointed by governor The Broker-Lawyer Committee -------contact forms intended for use by licensees. - - Answer-draft and revised TREC --------forms drafted by the Broker-Lawyer Committee. - Answer-promulgates or approves Promulgate vs approve - Answer-meaning in TREC: Promulgate = mandatory to use (we bring it to the table the consumer may choose not to use them) vs approve is when you have freedom to choose between forms either the form from TREC or another entity that has the same form When negotiating contracts that bind a sale, exchange, option, lease, or rental of property, licensees must present only those forms -----or ------- by TREC for that kind of transaction. - Answer-Promulgated or approved A licensee's filling out the promulgated forms is not considered an unauthorized practice of Law (T/F) - Answer-T When can an agent be exempt from using promulgated forms? - Answer-1)when licensee is functioning solely as a principal, not an agent. 2)An agency of the US government requires that a diff form be used (HUD) 3)A form has been prepared by the property owner or by an attorney and is required by the property owner 4)No standard form exists and the licensee uses a from prepared by an attorney or by the Broker-Lawyer Committee Promulgated and approved forms may be reproduced only from the following sources? - Answer-1)numbered copies obtained from the commission 2)Printed copies made from copies obtained from the commission 3)Legible photocopies of such copies 4)Computer printers, following mandatory except Changes to Promulgated and approved forms are not allowed except: - Answer-1)to add the business name or logo of the broker at the top of form outside the border. 2)to insert the broker's name in any blank provided for the purpose 3)when parties instruct the licensee to strike or add to the contract form