RELE 1300 - Chapter 2 Quiz.pdf - RELE 1300 Contract Forms Addenda Chapter 2 Quiz 1 Which of the following is NOT a TREC promulgated addendum a Reverse

RELE 1300 - Chapter 2 Quiz.pdf - RELE 1300 Contract Forms...

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RELE 1300 Contract Forms & Addenda Chapter 2 Quiz 1. Which of the following is NOT a TREC promulgated addendum? 2. What law specifically prohibits licensees from practicing law? a.Reverse Mortgage Financing Addendum b.Addendum for Back-Up Contract c.Addendum for Release of Liability on Assumed Loan and/or Restoration of Seller’s VA Entitlement d.Seller’s Temporary Residential Lease2. What law specifically prohibits licensees from practicing law? Real Estate Settlement Procedures Act (RESPA) b.Texas Real Estate Commission (TREC) c.Texas Real Estate License Act (TRELA) d.Deceptive Trade Practices Act (DTPA) 3. A seller wants to use her own contract. What are the agent’s legal options?4. An offer is not considered accepted until the person making the offer has been notified of the other party’s5. Which of the following is legal for the licensee to draw up?
6. An offer to purchase by a potential buyer is considered accepted when the a.seller signs the contract. b.buyer is notified that the seller has accepted the offer. c.seller notifies the listing broker. d.seller initials any changes. 7. Which of the following concerns lead to the Texas Real Estate License Act prohibiting licensees from practicing law?

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