Texas Promulgated Forms Exam Questions and Answers Latest Update

Broker Lawyer Committee - Answer-13 members 6 brokers - appointed by commission 6 lawyers 1 public member Draft and revise contract forms The answer is drafts and edits forms. The Broker-Lawyer Committee drafts and edits forms, whereas TREC approves and promulgates forms. What does the buyer need to provide the seller in paragraph 7D(2) of the One to Four Family Residential Contract? A) Residential service contract name B) Buyer's requested repairs C) Title insurance address D) Seller's attorney's address - Answer-The answer is buyer's requested repairs. In this blank, the buyer asks for the seller, at the seller's sole expense, to perform specific repairs and treatments. If the buyer is not aware of any repairs and/or treatments, N/A should be written in the blank. Remember, the buyer can ask for repairs and/or treatments later, though the seller is not bound to agree to do any repairs or treatments. Protected classes under the Fair Housing Act include all of the following EXCEPT A) gender. B) age. C) race. D) color. - Answer-The answer is age. Protected classes under the Fair Housing Act include race, color, national origin, religion, sex, familial status, and disability. Age is not a protected class under the Fair Housing Act. Fair Housing Act - Answer-The federal law that prohibits discrimination in housing based on race, color, religion, sex, disability, familial status, and national origin. Licensees may use any form EXCEPT A) a builder's contract form.