Champion School Of Real Estate

Law of Agency - Answer A body of laws that govern the relationship between a principal and his/her agent. It defines the rights and duties of the parties in a real estate transaction. These laws are based on common law. Definition - Answer Agency is the relationship between a principal and an agent who acts for the principal within the specified authority granted by the principal. The principal is entitled to rely on the agent, who places the principal's interests above those o...

The practice of several brokers agreeing to all charge the same amount of commission is called a. allocation of clients b. good business c. boycotting d. price-fixing - Answer d. price-fixing Information About Brokerage Services must be given to potential buyers, sellers, tenants, and landlords at the: a. time of first meeting b. after the listing is taken c. at the closing d. first substantive dialogue about a property - Answer Wrong b. after the listing is ta...

Agent Clark is working with seller Jean to sell her property. Agent Clark used to go to college with Buyer agent Sally. Clark and Sally meet up for lunch one day, and Clark tells Sally his seller is willing to accept less than the listed price. What is TRUE of this situation? - Answer Clark has violated his duty of loyalty and confidentiality to his client. All of the following are TRUE about the Information About Broker Services (IABS) form EXCEPT: - Answer It needs to be given f...

The TREC residential contract forms are: - Answer Drafted by the Broker Lawyer Committee Wrongful or criminal deception intended to result in financial or personal gain is called: - Answer fraud Under the Deceptive Trade Practices Act, __________ are defined as tangible chattels. - Answer goods If a seller will continue to occupy the property for one month after the closing, the buyer and seller should: - Answer Enter into a Seller's Temporary Residential Leas...

Wrongful or criminal deception intended to result in financial or personal gain is called: - Answer fraud The Buyer and Seller Temporary Residential Lease forms may be used for a lease period not to exceed: - Answer 90 days __________ extend above the surface without limitation. - Answer air rights An example(s) of an appurtenance would be: - Answer easements There is no upper limit on the value of a Texas homestead. - Answer true A(n) __________ is o...

This document presents a comprehensive set of 100 exam-ready questions and answers on Real Estate Financing, carefully crafted for the 2025/2026 academic year at Champions University. It provides a structured and high-yield review of essential financial, legal, and procedural concepts necessary for success in both academic and licensing settings. Students will find fully explained answers covering critical topics such as: Mortgage mechanics: fixed-rate, adjustable-rate, subprime, seller fi...

This document features 100 fully solved real estate financing exam questions and answers, tailored for the 2025/2026 academic year. It offers a complete, well-organized study resource designed to help students master essential concepts in U.S. real estate finance. Structured in a Q&A format, the content provides detailed explanations that make complex financial topics accessible and exam-ready. Key topics include: Types of mortgages (e.g., fixed-rate, adjustable-rate, package, blanket, ope...

CHAMPION SCHOOL OF REAL ESTATE EXAM ALL QUESTIONS WITH 100% CORRECT ANSWERS.

Champions School Of Real Estate Promulgated forms UPDATED ACTUAL Exam Questions and CORRECT Answers What contract form would you use if you're an agent selling a townhome - CORRECT ANSWER - 1-4 family What type of transaction are TRECS contract promulgated forms used for - CORRECT ANSWER - Residential Who are buyers supposed to hire for inspections - CORRECT ANSWER Inspectors - TREC licensed What % does the lender required repairs have to exceed in order for buyers...

Promulgated Contract Forms - Champions school of real estate UPDATED ACTUAL Exam Questions and CORRECT Answers mutual consent - CORRECT ANSWER Unilateral Contract - CORRECT ANSWER obligated to perform. one sided Consideration - CORRECT ANSWER Option - CORRECT ANSWER - a "meeting of the minds" - A contract in which only one party Is - something given in exchange for a promise - an agreement between a buyer and seller giving the buyer the right to purchase a prop...