exam questions Latest Update - 60

AYPO Real Estate Promulgated contracts actual exam questions Latest Update - 60 Questions and 100% Verified Correct Answers Guaranteed A+

____ is the form that licensees are most likely to work with the most frequently

• New Home Contract (Completed Construction)
• Addendum for Property Subject to Mandatory Membership in an Owners' Association
• Environmental Assessment, Threatened or Endangered Species, and Wetlands

Addendum

• One to Four Family Residential Contract (Resale) [TREC 1-4] - CORRECT ANSWER:
• 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?

• Required disclosures
• Prohibited disclosures
• Permitted disclosures

d. None of these - CORRECT ANSWER: c. Permitted disclosures

"Subdivision Information" means which of the following?

• A current copy of the restrictions applying to the subdivision and bylaws
• Both of these
• Neither of these 1 / 3

• A resale certificate, all of which are described by section 207.003 of the Texas

Property Code - CORRECT ANSWER: b. Both of these

§11 Special Provisions of the TREC 1-4 can be used only for which of the following?

• Neither of these
• Factual statements and business details applicable to the sale
• Alterations of text or addition of provisions that are generally legal in nature

d. Both of these - CORRECT ANSWER: 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?

• To obligate the lessee/owner to an irrevocable option to buy
• To replace an existing contract with a new contract
• To section off a portion of the property, the equivalent value of which has been paid

off, and sell off that portion if desired

• To transfer rights or duties under a contract from a current party to a contract to

another party - CORRECT ANSWER: 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?

• Loan fees
• Rents
• Association fees

d. Property taxes - CORRECT ANSWER: a. Loan fees

• / 3

A person is not engaged in a real estate brokerage, regardless of whether the person is licensed under this chapter, based solely on engaging in which of the following activities?

• Any of these.
• Entering into an obligation to pay another person that is secured by an interest in real

property

• Sponsoring, promoting, or managing, or otherwise participating as a principal,

partner, or financial manager of, an investment in real estate

• Constructing, remodeling, or repairing a home or other building - CORRECT

ANSWER: a. Any of these.

A title endorsement is a(n):

• Notarized copy of title
• Professionally recommended title company
• Title approved by the local Clerk of the Court or equivalent recording agent

d. None of these - CORRECT ANSWER: d. None of these

A title insurance "commitment" provides a buyer:

• With a guarantee of a clear title
• With the terms and conditions under which the title company will be issuing the title

insurance policy

• Time to request a title insurance policy

d. With homeowner's insurance - CORRECT ANSWER: b. With the terms and

conditions under which the title company will be issuing the title insurance policy

Accepting the "property in its present condition" in section 7 of the TREC 1-4:

• / 3