Cts practice - Study guides, Class notes & Summaries

Texas Pre-License - Law of Contracts Practice Exam Questions and Answers

1. In the Texas Real Estate Commission was established to administer and enforce the TRELA. a. 1939 b. 1929 c. 1949 d. 1993 ANS c. 1949 2. TREC has only promulgated lease forms. a. 1 b. 2 c. 3 d. 4 ANS b. 2 3. In the TAR Seller's Disclosure the seller should . a. prepare the disclosure when the listing is taken b. be the only one completing this form or any part of it c. none of the above d. both a and b ANS d. both a and b 4. Which of the following can result in a license ...

Your buyer client, Jacob, is planning to obtain financing for a new home. What should his first step be? - ANSWER Obtain a pre-qualification letter. Sondra thinks the new business contract she signed with her business partner is valid. Both parties are legally competent, the contract has a legal purpose, an offer was made and accepted, and a fee has been negotiated and documented. Which essential element of a valid contract has Sondra not yet considered? - ANSWER Whether consent was voluntary...

Which of these forms is least likely to be involved in the sale of unimproved property? - Answer- The Unimproved Property Contract would not be involved in the sale of a condo. A buyer and seller have been in negotiations. They have everything in writing, have agreed to all terms, the contract is signed and changes initialed. Today, the written acceptance of the final agreement has been communicated to the other party. What is today called? - Answer- the effective date How many lawyers are...

PROMULGATED CONTRACTS PRACTICE TEST Exam Questions And Answers 100% Verified Agent Kara signed a buyer's representation agreement with her client that set her commission at 3%. The listing broker of the home her client chose offered 3.5% to the buyer's broker. What percentage of the sale price of the home will Kara's commission be? - answer3.5% What does Paragraph A of the Addendum for Back-Up Contract specify a back-up contract holder do when they execute the contract?* - answerdeposi...

PRAXIS 5003 Elementary Education Multiple Subjects Mathmatics Practice Test Questions and Answers

CTS Practice Exam Questions With Complete Solutions

What is a method of withdrawing from a contract without actually canceling it? - ANSWER Assignment When someone who is a tenant in common with another person dies, the deceased person's interest in the estate is transferred to the - ANSWER deceased person's heir. What type of funds MUST be deposited by the second working day after the effective date of the contract? - ANSWER earnest money What is one limiting factor put on urban homesteads and rural homesteads? - ANSWER There are limi...

PROMULGATED CONTRACTS PRACTICE TEST Exam Questions And Answers 100% Verified Agent Kara signed a buyer's representation agreement with her client that set her commission at 3%. The listing broker of the home her client chose offered 3.5% to the buyer's broker. What percentage of the sale price of the home will Kara's commission be? - answer3.5% What does Paragraph A of the Addendum for Back-Up Contract specify a back-up contract holder do when they execute the contract?* - answerdeposi...