AYPO Real Estate Promulgated contracts actual
exam questions with Answers
"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
-If there is a field in a promulgated form for which you have no information to include,
your safest option is which of the following?
a. Run a line through it
b. Place "N/A" (not applicable) so it is clear that the buyer/buyer's agent is aware that the
section exists and was not just overlooked
c. Any of these
d. Just leave it blank - -b. Place "N/A" (not applicable) so it is clear that the buyer/buyer's
agent is aware that the section exists and was not just overlooked
-Which of these is an exemption to the "legal capacity" requirement to form a contract?
a. A contract for a life necessity
b. The other party had no knowledge of the party's lack of legal capacity
c. Both of these are correct
d. Neither of these are correct - -a. A contract for a life necessity
-An amendment must always include reference to all of these, except:
a. The title report
b. The original contract
c. Parties
d. Date of ratification - -a. The title report
-What category of disclosure do "psychological stigmas" fall into in Texas?
a. Prohibited
b. Required
c. Permitted
d. None of these - -c. Permitted
-Promulgated contracts for TRELA generally are developed by which of the following?
, a. TREC
b. National Association of Realtors
c. Texas Bar Association
d. The Broker-Lawyer Committee - -d. The Broker-Lawyer Committee
-If the seller has misled or misrepresented something, the signature at closing:
a. Terminates any obligation to the buyer
b. Neither of these
c. Either of these
d. Does not release them from those promises - -d. Does not release them from those
promises
-Restrictive covenants are regulations which can include which of the following?
a. Dictating minimum residence size
b. Nuber of homes per lot
c. Types of construction allowed and not allowed
d. All of these - -d. All of these
-Before leasing the property back to a seller or leasing it ahead of closing to a buyer, both
parties need to pay attention to the effect that leasing will have on which of the following?
a. Their insurance coverage
b. The Seller's disclosure
c. The title commitment
d. The title policy - -a. Their insurance coverage
-HUD's primary concern is to ensure that any occupancy standards are not so strict as:
a. To discriminate against single residents
b. To undo protections of families with children
c. To create a safety hazard
d. None of these - -b. To undo protections of families with children
-Which of these is a part of the Seller Financing Agreement
a. Promissory Note
b. Deed of Trust
c. Buyer's Credit Approval
d. All of these - -d. All of these
-Which of these DOES NOT mean that a contract might not or will not likely stand up in
court?
a. Valid
exam questions with Answers
"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
-If there is a field in a promulgated form for which you have no information to include,
your safest option is which of the following?
a. Run a line through it
b. Place "N/A" (not applicable) so it is clear that the buyer/buyer's agent is aware that the
section exists and was not just overlooked
c. Any of these
d. Just leave it blank - -b. Place "N/A" (not applicable) so it is clear that the buyer/buyer's
agent is aware that the section exists and was not just overlooked
-Which of these is an exemption to the "legal capacity" requirement to form a contract?
a. A contract for a life necessity
b. The other party had no knowledge of the party's lack of legal capacity
c. Both of these are correct
d. Neither of these are correct - -a. A contract for a life necessity
-An amendment must always include reference to all of these, except:
a. The title report
b. The original contract
c. Parties
d. Date of ratification - -a. The title report
-What category of disclosure do "psychological stigmas" fall into in Texas?
a. Prohibited
b. Required
c. Permitted
d. None of these - -c. Permitted
-Promulgated contracts for TRELA generally are developed by which of the following?
, a. TREC
b. National Association of Realtors
c. Texas Bar Association
d. The Broker-Lawyer Committee - -d. The Broker-Lawyer Committee
-If the seller has misled or misrepresented something, the signature at closing:
a. Terminates any obligation to the buyer
b. Neither of these
c. Either of these
d. Does not release them from those promises - -d. Does not release them from those
promises
-Restrictive covenants are regulations which can include which of the following?
a. Dictating minimum residence size
b. Nuber of homes per lot
c. Types of construction allowed and not allowed
d. All of these - -d. All of these
-Before leasing the property back to a seller or leasing it ahead of closing to a buyer, both
parties need to pay attention to the effect that leasing will have on which of the following?
a. Their insurance coverage
b. The Seller's disclosure
c. The title commitment
d. The title policy - -a. Their insurance coverage
-HUD's primary concern is to ensure that any occupancy standards are not so strict as:
a. To discriminate against single residents
b. To undo protections of families with children
c. To create a safety hazard
d. None of these - -b. To undo protections of families with children
-Which of these is a part of the Seller Financing Agreement
a. Promissory Note
b. Deed of Trust
c. Buyer's Credit Approval
d. All of these - -d. All of these
-Which of these DOES NOT mean that a contract might not or will not likely stand up in
court?
a. Valid
