Practice Quiz

Texas Real Estate Exam - Question List

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61. The following could be used by the buyer as earnest money deposit in purchasing real property:
  1. A promissory note secured by a deed of trust
  2. A postdated check
  3. An unsecured promissory note
  4. All of the above
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62. An offer by one of the parties to a real estate transaction to carry out that party’s part of the contract is called a:
  1. Gratuity
  2. Satisfaction
  3. Recourse
  4. Tender
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63. An oral or written agreement that is binding in a court of law is called a:
  1. gentlemen’s agreement
  2. contract
  3. business deal
  4. promissory note
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64. The liquidation of a financial obligation on an installment plan or basis is:
  1. Conversion
  2. Amortization
  3. Acceleration
  4. Conveyancing
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65. You are selling the house you live in, but the house you’re moving to is not completed. You need to stay on in the house a while after closing. You work out a deal with the new purchaser called a:
  1. no-rent lease agreement
  2. delayed possession for the new purchaser
  3. sale-leaseback
  4. lease for one year past closing
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