Law of Contracts Champions 2025-
2026 Exam with Correct Verified
Answers Graded A+
TRELA
'535' laws are associated with...
TREC
TRELA was established in...
1939
TREC was established in...
1949
The Real Estate Recovery Trust Account is used to...
Protect aggrieved individuals who suffer a monetary loss due to
illegals acts of license holders.
The maximum amount per transaction for Real Estate Recovery is...
$50,000
The maximum amount on behalf of any one license holder is...
$100,000
Promulgated forms means...
To make known by open declaration; publish.
The Texas Real Estate Broker-Lawyer Committee consists of...
13 members.
Of the 13 Lawyer-Broker Committee members, how many are
appointed by TREC?
6
Of the 13 Lawyer-Broker Committee members, how many are
members from the State Bar of Texas?
6
How many public members are appointed to the Lawyer-Broker
Committee?
1
, A licensed agent may not give this type of advice...
Legal.
How many types of promulgated lease forms does TREC provide?
2
What are the names of the promulgated lease forms?
Buyer's and Seller's Temporary Residential Lease
This gives the tenant the right to purchase the leased property by
matching or bettering any offer before the property will be sold to
someone else.
Right of First Refusal.
A residential lease may contain a Right of...
First Refusal.
"Goods" means...
tangible or real property purchased or leased for use.
"Services" means...
work, labor, or services purchased or leased.
What is the DTPA?
Deceptive Trade Practices Act
When a license holder is sued, it tends to be due to an action under
the...
DTPA
If the judge or jury rule that the licensed agent knowingly or
intentionally deceived the consumer, damages have the potential
be...
three times the offense.
A seller of residential property must provide what type of document
to a buyer?
Seller's Disclosure Notice
Who completes the Seller's Disclosure Notice?
The seller should be the ONLY one completing the seller's disclosure
notice.
If the seller has never occupied the property, do they still have to fill
out the disclosure? Yes, or no?
2026 Exam with Correct Verified
Answers Graded A+
TRELA
'535' laws are associated with...
TREC
TRELA was established in...
1939
TREC was established in...
1949
The Real Estate Recovery Trust Account is used to...
Protect aggrieved individuals who suffer a monetary loss due to
illegals acts of license holders.
The maximum amount per transaction for Real Estate Recovery is...
$50,000
The maximum amount on behalf of any one license holder is...
$100,000
Promulgated forms means...
To make known by open declaration; publish.
The Texas Real Estate Broker-Lawyer Committee consists of...
13 members.
Of the 13 Lawyer-Broker Committee members, how many are
appointed by TREC?
6
Of the 13 Lawyer-Broker Committee members, how many are
members from the State Bar of Texas?
6
How many public members are appointed to the Lawyer-Broker
Committee?
1
, A licensed agent may not give this type of advice...
Legal.
How many types of promulgated lease forms does TREC provide?
2
What are the names of the promulgated lease forms?
Buyer's and Seller's Temporary Residential Lease
This gives the tenant the right to purchase the leased property by
matching or bettering any offer before the property will be sold to
someone else.
Right of First Refusal.
A residential lease may contain a Right of...
First Refusal.
"Goods" means...
tangible or real property purchased or leased for use.
"Services" means...
work, labor, or services purchased or leased.
What is the DTPA?
Deceptive Trade Practices Act
When a license holder is sued, it tends to be due to an action under
the...
DTPA
If the judge or jury rule that the licensed agent knowingly or
intentionally deceived the consumer, damages have the potential
be...
three times the offense.
A seller of residential property must provide what type of document
to a buyer?
Seller's Disclosure Notice
Who completes the Seller's Disclosure Notice?
The seller should be the ONLY one completing the seller's disclosure
notice.
If the seller has never occupied the property, do they still have to fill
out the disclosure? Yes, or no?
