TEXAS PROMULGATED CONTRACTS
COMPREHENSIVE EXAM 2026 TEST PAPER
QUESTIONS AND SOLUTIONS
◍ IN A LEASE WITH A RIGHT OF FIRST REFUSAL PROVISION .
Answer: THE TENANT HAS THE RIGHT TO MATCH OR BETTER
ANY OFFER THE LANDLORD RECEIVES TO PREVENT THE
PROPERTY FROM BEING SOLD
◍ TREC promulgated contract forms provide for . Answer: third party
financing,
assumption
seller finance
◍ a lender can withdraw the approval of a property . Answer: at any
time prior to closing
◍ the third party financing addendum for credit approval is used when .
Answer: the buyer is obtaining any kind of financing
◍ a new survey is always required for all transactions . Answer: false
, ◍ the number of days allowed for objections to title or survey is .
Answer: the number of days entered in paragraph 6
◍ trec has promulgated forms for . Answer: residential transactions
◍ TREC promulgated contracts allow the buyer to have the property
inspected . Answer: by inspectors licensed by trec or otherwise permitted
by law
◍ when a buyer defaults on a contract and the seller choses to retain the
buyer's earnest money, the seller has agreed to . Answer: liquidated
damages
◍ when one party defaults under a contract, the other party is known as .
Answer: injured party
◍ earnest money is first applied to the . Answer: buyer's down payment
◍ the escrow agent is . Answer: not a party to the transaction
◍ for a valid option to exist . Answer: the option fee must be paid
directly to the seller or listing broker
all blanks in paragraph 23 must be filled
the fee must be paid within two days of the effective date of the contract
COMPREHENSIVE EXAM 2026 TEST PAPER
QUESTIONS AND SOLUTIONS
◍ IN A LEASE WITH A RIGHT OF FIRST REFUSAL PROVISION .
Answer: THE TENANT HAS THE RIGHT TO MATCH OR BETTER
ANY OFFER THE LANDLORD RECEIVES TO PREVENT THE
PROPERTY FROM BEING SOLD
◍ TREC promulgated contract forms provide for . Answer: third party
financing,
assumption
seller finance
◍ a lender can withdraw the approval of a property . Answer: at any
time prior to closing
◍ the third party financing addendum for credit approval is used when .
Answer: the buyer is obtaining any kind of financing
◍ a new survey is always required for all transactions . Answer: false
, ◍ the number of days allowed for objections to title or survey is .
Answer: the number of days entered in paragraph 6
◍ trec has promulgated forms for . Answer: residential transactions
◍ TREC promulgated contracts allow the buyer to have the property
inspected . Answer: by inspectors licensed by trec or otherwise permitted
by law
◍ when a buyer defaults on a contract and the seller choses to retain the
buyer's earnest money, the seller has agreed to . Answer: liquidated
damages
◍ when one party defaults under a contract, the other party is known as .
Answer: injured party
◍ earnest money is first applied to the . Answer: buyer's down payment
◍ the escrow agent is . Answer: not a party to the transaction
◍ for a valid option to exist . Answer: the option fee must be paid
directly to the seller or listing broker
all blanks in paragraph 23 must be filled
the fee must be paid within two days of the effective date of the contract
