AYPO Real Estate Promulgated contracts actual exam Questions With 100 % Correct Answers | latest

____ is the form that licensees are most likely to work with the most frequently a. New Home Contract (Completed Construction) b. Addendum for Property Subject to Mandatory Membership in an Owners' Association c. Environmental Assessment, Threatened or Endangered Species, and Wetlands Addendum d. One to Four Family Residential Contract (Resale) [TREC 1-4] - d. One to Four Family Residential Contract (Resale) [TREC 1-4] "Psychological stigmas," which involve violent or catastrophic events on a property, fall under which category of disclosure? a. Required disclosures b. Prohibited disclosures c. Permitted disclosures d. None of these - c. Permitted disclosures "Short sale" generally would not include which of the following? a. The borrower seeing no funds from a short sale b. A guarantee that the lender will not seek additional compensation from the borrower c. Less than full net proceeds at closing to pay the balance of the Seller's mortgage loan d. Lender permission to proceed with the sale - b. A guarantee that the lender will not seek additional compensation from the borrower "Subdivision Information" means which of the following?a. A current copy of the restrictions applying to the subdivision and bylaws b. Both of these c. Neither of these d. A resale certificate, all of which are described by section 207.003 of the Texas Property Code - b. Both of these §11 Special Provisions of the TREC 1-4 can be used only for which of the following? a. Neither of these b. Factual statements and business details applicable to the sale c. Alterations of text or addition of provisions that are generally legal in nature d. Both of these - b. Factual statements and business details applicable to the sale A "release clause" in a mortgage agreement would allow which of the following additional lender approval? a. To obligate the lessee/owner to an irrevocable option to buy b. To replace an existing contract with a new contract c. To section off a portion of the property, the equivalent value of which has been paid off, and sell off that portion if desired d. To transfer rights or duties under a contract from a current party to a contract to another party - c. To section off a portion of the property, the equivalent value of which has been paid off, and sell off that portion if desired A cost that is not prorated by the title company is which of these? a. Loan fees b. Rents c. Association fees d. Property taxes - a. Loan fees