NCSO ACSA EXAM PREP: LATEST KEY QUESTIONS AND
ANSWERS FOR AN A+
1. In a land sale contract, the deed conveying legal title is delivered to the buyer
when the
fully paid and performed.
2. A land sale contract transfers:
equitable title.
3. Which of the following is true about the land sale contract method of financing
the sale of real property?
The seller retains the title, and the buyer is the equitable owner.
4. Which of the following best describes a land sale contract?
A method of selling real estate whereby the purchaser pays for the property in regular
installments while the seller retains title to the property
5. Upon the final payment of a land sale contract, the buyer should receive a:
Deed
6 The buyer under a land sale contract:
Has equitable title to the property. Is entitled to a conveyance of the legal title when all
payments have been made.
7. The seller's primary security under a land sale contract is the:
Retention of legal title to the property.
Under a land sale contract, the buyer normally receives:
Equitable title & Possession.
9. A land sale contract conveys:
An equitable title to the purchaser
10. At the time of signing a land sale contract, the purchaser receives:
Equitable title
11. Under a land sale contract, who retains legal title until certain specific
conditions and fulfilled?
Seller
, 12. A financing arrangement by which the buyer does not immediately become
the owner of record would be a:
land sales contract
13. Upon the signing of a land sale contract:
The equitable title passes to the purchaser
In Oregon, land sale contracts must be:
In writing
15. When a purchaser signs a land sale contract, he/she receives:
equitable title
16. A typical land sale contract financing arrangement includes which of the
following?
Possession of the property by the vendee. Title of the property held by the vendor.
Which of the statements concerning typical land sale contracts is correct?
Land sale contracts are the least secure method of financing for the buyer because the
seller retains the title and the buyer is merely the equitable owner.
18. At the outset, a land sale contract provides which of the following to the
purchaser?
Equitable title.
19. In a land sale contract, the buyer:
Has equitable title to the property. Is entitled to a conveyance of the legal title when all
payments have been made.
20. Under a conditional land contract of sale, a buyer is considered to be:
an equitable owner.
21. When real estate is sold under an installment or land contract, possession is
usually given to the buyer and title is:
kept by the seller until the full purchase price is paid.
22. The sale of real property on a conditional sales contract ordinarily transfers:
possession
23. Under a contract for the sale of real estate, the party who has the legal title
during the term of the contract is the:
Vendor
ANSWERS FOR AN A+
1. In a land sale contract, the deed conveying legal title is delivered to the buyer
when the
fully paid and performed.
2. A land sale contract transfers:
equitable title.
3. Which of the following is true about the land sale contract method of financing
the sale of real property?
The seller retains the title, and the buyer is the equitable owner.
4. Which of the following best describes a land sale contract?
A method of selling real estate whereby the purchaser pays for the property in regular
installments while the seller retains title to the property
5. Upon the final payment of a land sale contract, the buyer should receive a:
Deed
6 The buyer under a land sale contract:
Has equitable title to the property. Is entitled to a conveyance of the legal title when all
payments have been made.
7. The seller's primary security under a land sale contract is the:
Retention of legal title to the property.
Under a land sale contract, the buyer normally receives:
Equitable title & Possession.
9. A land sale contract conveys:
An equitable title to the purchaser
10. At the time of signing a land sale contract, the purchaser receives:
Equitable title
11. Under a land sale contract, who retains legal title until certain specific
conditions and fulfilled?
Seller
, 12. A financing arrangement by which the buyer does not immediately become
the owner of record would be a:
land sales contract
13. Upon the signing of a land sale contract:
The equitable title passes to the purchaser
In Oregon, land sale contracts must be:
In writing
15. When a purchaser signs a land sale contract, he/she receives:
equitable title
16. A typical land sale contract financing arrangement includes which of the
following?
Possession of the property by the vendee. Title of the property held by the vendor.
Which of the statements concerning typical land sale contracts is correct?
Land sale contracts are the least secure method of financing for the buyer because the
seller retains the title and the buyer is merely the equitable owner.
18. At the outset, a land sale contract provides which of the following to the
purchaser?
Equitable title.
19. In a land sale contract, the buyer:
Has equitable title to the property. Is entitled to a conveyance of the legal title when all
payments have been made.
20. Under a conditional land contract of sale, a buyer is considered to be:
an equitable owner.
21. When real estate is sold under an installment or land contract, possession is
usually given to the buyer and title is:
kept by the seller until the full purchase price is paid.
22. The sale of real property on a conditional sales contract ordinarily transfers:
possession
23. Under a contract for the sale of real estate, the party who has the legal title
during the term of the contract is the:
Vendor
