Chapter2_exam-bank.docx - Texas Promulgated Forms Second Edition Update Texas Promulgated Forms Second Edition Update Chapter 2 Exam Bank QUESTION 1

Chapter2_exam-bank.docx - Texas Promulgated Forms Second...

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Texas Promulgated Forms, Second Edition UpdateTexas Promulgated Forms, Second Edition UpdateChapter 2 Exam BankQUESTION# 1 Which of the following is NOT a TREC promulgated addendum?a.Reverse Mortgage Financing Addendumb.Addendum for Back-Up Contractc.Addendum for Release of Liability on Assumed Loan and/or Restoration of Seller’s VA Entitlementd.Seller’s Temporary Residential LeaseQUESTION# 2 What law specifically prohibits licensees from practicing law?A seller wants to use her own contract. What are the agent’s legal options?An offer is not considered accepted until the person making the offer has been notified of the other party’sWhich of the following is legal for the licensee to draw up?a.Deedb.Notec.Contractd.None of theseQUESTION# 6An offer to purchase by a potential buyer is considered accepted when theQUESTION# 7©2016 Kaplan, Inc.May be reproduced for educational uses only.
Texas Promulgated Forms, Second Edition UpdateWhich of the following concerns lead to the Texas Real Estate License Act prohibiting licensees from practicinglaw?What type of committee is the Broker-Lawyer Committee?What does the Broker-Lawyer Committee do?a.Promulgates contractsb.Publishes forms for mandatory usec.Drafts contractsd.All of these

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