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Legal Update I Champion School of Real Estate Exam Questions and Complete Solutions Graded A+
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Legal Update I Champion School of Real Estate Exam Questions and Complete Solutions Graded A+
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Legal Update I Champion School of RealEstate Exam Questions and Complete
Solutions Graded A+
How many hours of CE concerning real estate contracts must a license holder take to renew his/her
license? - Answer: 3
The amendment to the Consumer Protection Notice adds a statement to alert consumers that ______
are licensed by TREC and must maintain E&O insurance. - Answer: Real Estate Inspectors
According to paragraph 2C of the contract, "controls" include: - Answer: Software and applications used
to access and control improvements or accessories
Meghan's seller-client is leasing solar panels from a solar company. Meghan should: - Answer: Make the
Addendum Regarding Fixture Leases available to prospective buyers.
To whom must the buyer deliver the earnest money and option fee? - Answer: The escrow agent
In most cases, the option fee and earnest money must be delivered to the escrow agent within ____
after the effective date of the contract. - Answer: 3 days
T or F: Both the earnest money and option fee are non-refundable if the buyer or seller terminate the
contract. - Answer: False
The effective date of a contract is Nov 17th, which falls on a Wednesday. What is the last day that the
buyer must deliver the earnest money? - Answer: Monday November 22nd
----- means the expenses incurred by escrow agent on behalf of the party entitled to the earnest money
that were authorized by the contract or party. - Answer: authorized expenses
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