Promulgated Contract Forms Exam Test
How does the Texas Real Estate License Act define the first face-to-
face meeting which requires agency disclosure?
A. When a licensee first meets a prospect
B. When a prospect is ready to sign an agreement
C. Only when a specific property is being shown.
D. When substantive dialogue about a specific real property occurs -
Correct Answer ✔️✔️D. When substantive dialogue about a
specific real property occurs
Once a prospect enquires about a specific real property, the agent is
required to inform the prospect who represents whom in a
transaction (Agency law). The easiest way to do so is to use the
,Information About Brokerage Services form which describes the
agency representation available to each party
In Texas:
A. Dual agency is legal.
B. An agent may represent both buyer and seller without any
agreement from either.
C. A Broker may represent both buyer and seller under signed
intermediary agreements. D. A Broker may not, under any
circumstance, represent both Buyer and Seller - Correct Answer
✔️✔️C. A Broker may represent both buyer and seller under
signed intermediary agreements.
There is no dual agency in the State of Texas. However, it is possible
for a Broker to represent both the buyer and seller under
,intermediary. Agreement from the parties needs to be in writing for
Intermediary to be allowed
Intermediary requires:
A. Disclosure of who represents whom in a transaction
B. Written agreement by both seller and buyer C. Involvement of only
one company
D. All the above - Correct Answer ✔️✔️D. All the above
Intermediary requires involvement of only one company with written
agreement from all parties, and a disclosure of who represents whom
in the transaction. Buyer and Seller in a sales transaction; Landlord
and Tenant in a lease transaction.
, The Information About Brokerage Services (IABS) states the broker
may represent:
A. The owner
B. The buyer
C. Both owner and buyer as intermediary
D. All the above - Correct Answer ✔️✔️D. All the above
In a transaction, the IABS (Information About Brokerage Services)
states that a Broker may represent the Owner, the Buyer, and both
the owner and buyer in an Intermediary position.
The IABS form states all of the following EXCEPT this about
Intermediary:
How does the Texas Real Estate License Act define the first face-to-
face meeting which requires agency disclosure?
A. When a licensee first meets a prospect
B. When a prospect is ready to sign an agreement
C. Only when a specific property is being shown.
D. When substantive dialogue about a specific real property occurs -
Correct Answer ✔️✔️D. When substantive dialogue about a
specific real property occurs
Once a prospect enquires about a specific real property, the agent is
required to inform the prospect who represents whom in a
transaction (Agency law). The easiest way to do so is to use the
,Information About Brokerage Services form which describes the
agency representation available to each party
In Texas:
A. Dual agency is legal.
B. An agent may represent both buyer and seller without any
agreement from either.
C. A Broker may represent both buyer and seller under signed
intermediary agreements. D. A Broker may not, under any
circumstance, represent both Buyer and Seller - Correct Answer
✔️✔️C. A Broker may represent both buyer and seller under
signed intermediary agreements.
There is no dual agency in the State of Texas. However, it is possible
for a Broker to represent both the buyer and seller under
,intermediary. Agreement from the parties needs to be in writing for
Intermediary to be allowed
Intermediary requires:
A. Disclosure of who represents whom in a transaction
B. Written agreement by both seller and buyer C. Involvement of only
one company
D. All the above - Correct Answer ✔️✔️D. All the above
Intermediary requires involvement of only one company with written
agreement from all parties, and a disclosure of who represents whom
in the transaction. Buyer and Seller in a sales transaction; Landlord
and Tenant in a lease transaction.
, The Information About Brokerage Services (IABS) states the broker
may represent:
A. The owner
B. The buyer
C. Both owner and buyer as intermediary
D. All the above - Correct Answer ✔️✔️D. All the above
In a transaction, the IABS (Information About Brokerage Services)
states that a Broker may represent the Owner, the Buyer, and both
the owner and buyer in an Intermediary position.
The IABS form states all of the following EXCEPT this about
Intermediary:
