Gold Coast Real Estate Actual Exam
Questions With Reviewed 100% Correct
Detailed Answers Guaranteed Pass!!
1. What are the four unities of joint tenancy? - ANSWER time, title,
interest, possession
2. Paul and Paula are husband and wife. They own property as tenants by the
entireties. They divorce without a property settlement. Unless otherwise
decreed by a court, they now hold title as which of the following?
(a) Joint tenants
(b) Tenants in common
(c) Tenants by the entireties
(d) Joint tenants with the right of survivorship - ANSWER (b) Tenants
in common
3. Which instrument transfers title from one individual to another? - ANSWER
Deed
,4. Which clause in a deed states the interest that is being conveyed? -
ANSWER Habendum
5. Which statement is correct concerning a quitclaim deed? - ANSWER It
may be used to cure defect in title
6. What type of deed is most commonly used? - ANSWER General
warranty
7. Mary and Louise open a beauty shop in a regional mall. The terms of their
lease require that a portion of their business income, in addition to the
periodic rent, be paid to the landlord. What type of lease do they have? -
ANSWER Percentage
8. Which of the following is required to obtain title by adverse possession? -
ANSWER Notorious, open, hostile, adverse, and exclusive possession of
the property for seven or more consecutive years
9. What type of notice is considered to be the best proof of ownership? -
ANSWER Constructive
10.Which method of legal description uses compass bearings to indicate the
direction of boundary lines? - ANSWER Surveyor's method
, 11.What is the primary reference point in a metes and bounds description? -
ANSWER The monument or permanent marker, then the point of
beginning
12.What is the main north/south line used in the government survey method?
- ANSWER Principal meridian
13.How many sections does a township contain? - ANSWER 36 sections
14.How many square feet are in one acre? - ANSWER 43,560 sq ft
15.How many acres are in a section? - ANSWER 640
16.If an owner revokes an exclusive rights of sale listing and sells the property
during the remaining time the listing would have been in effect, what is the
broker entitled to? - ANSWER A full commission
17.Which term refers to a type of contract where all terms and conditions are
not fully expressed? - ANSWER Implied
18.What are the required elements of all valid contracts? - ANSWER Lawful
subject, agreement, consideration, and two or more competent parties
19.To which of the following does the phrase "Meeting of the minds" refer? -
ANSWER Offer and acceptance
Questions With Reviewed 100% Correct
Detailed Answers Guaranteed Pass!!
1. What are the four unities of joint tenancy? - ANSWER time, title,
interest, possession
2. Paul and Paula are husband and wife. They own property as tenants by the
entireties. They divorce without a property settlement. Unless otherwise
decreed by a court, they now hold title as which of the following?
(a) Joint tenants
(b) Tenants in common
(c) Tenants by the entireties
(d) Joint tenants with the right of survivorship - ANSWER (b) Tenants
in common
3. Which instrument transfers title from one individual to another? - ANSWER
Deed
,4. Which clause in a deed states the interest that is being conveyed? -
ANSWER Habendum
5. Which statement is correct concerning a quitclaim deed? - ANSWER It
may be used to cure defect in title
6. What type of deed is most commonly used? - ANSWER General
warranty
7. Mary and Louise open a beauty shop in a regional mall. The terms of their
lease require that a portion of their business income, in addition to the
periodic rent, be paid to the landlord. What type of lease do they have? -
ANSWER Percentage
8. Which of the following is required to obtain title by adverse possession? -
ANSWER Notorious, open, hostile, adverse, and exclusive possession of
the property for seven or more consecutive years
9. What type of notice is considered to be the best proof of ownership? -
ANSWER Constructive
10.Which method of legal description uses compass bearings to indicate the
direction of boundary lines? - ANSWER Surveyor's method
, 11.What is the primary reference point in a metes and bounds description? -
ANSWER The monument or permanent marker, then the point of
beginning
12.What is the main north/south line used in the government survey method?
- ANSWER Principal meridian
13.How many sections does a township contain? - ANSWER 36 sections
14.How many square feet are in one acre? - ANSWER 43,560 sq ft
15.How many acres are in a section? - ANSWER 640
16.If an owner revokes an exclusive rights of sale listing and sells the property
during the remaining time the listing would have been in effect, what is the
broker entitled to? - ANSWER A full commission
17.Which term refers to a type of contract where all terms and conditions are
not fully expressed? - ANSWER Implied
18.What are the required elements of all valid contracts? - ANSWER Lawful
subject, agreement, consideration, and two or more competent parties
19.To which of the following does the phrase "Meeting of the minds" refer? -
ANSWER Offer and acceptance
