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RELE 1300 –Contract Forms & Addenda Chapter 4 Quiz 1. What happens to the option fee if the buyer terminates within the option period under paragraph 23 of the TREC One to Four Residential Contract? a. The option fee is not refunded to the buyer. b. The option fee is refunded to the buyer. c. The option fee is split between the buyer and the seller. d. The agents split the option fee for the time spent for their clients. 2. Where in the One to Four Family Residential Contract would a licensee indicate that she is the seller in the transaction and that she has a real estate license? 3. Restrictive covenants may include rules regarding 4. The Statutory Tax District Notice in paragraph 6 of the One to Four Family Residential Contract applies to which of the following? 5. How many different notices are in paragraph 6E of the One to Four Family Residential Contract? a. Ten. b. Six. c. Five. d. Three. 6. According to the One to Four Family Residential Contract (Resale), the title policy cost is the responsibility of the 7. Which of the following is FALSE regarding earnest money?