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Gold Coast Exam Questions And 100% Correct Answers
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Gold Coast Exam Questions And 100% CorrectAnswers 2024-2025
What Do you call when different companies come together for a specific purpose? -
ANSWER Joint Venture
What is called when the government can take your property to build a school? -
ANSWER Eminent Domain
What is the best deed for the seller? - ANSWER Quick Claim Deed
Is the real estate recovery fund one of the solutions/remedy for the breach? - ANSWER
No
If you apply for a realestate license and they deny you, do they have to tell you why? -
ANSWER Yes
What is the term used for a profitable on-going business? - ANSWER Going Concern
Value
What is the name of the listing agreement where it doesnt matter who brings the buyer
but the listing broker gets paid? - ANSWER Exclusive Right Of Sale
Can the government take your property to build a movie theater? - ANSWER No
if your broker doesn'y pay you wou can you sue? - ANSWER The broker
How do you calculate the Doc stamps on the Deed? (math) - ANSWER 31 and 43
, How do you calculate the Doc stamps on the Deed? (math) - ANSWER Divide by 100 and
multiply by .70
If you have two brothers who buy a property together, if one brother die, how does the
property go to the other? - ANSWER Joint Tenancy
What transfer tax does not apply to an assumable mortgage? - ANSWER Intangible Tax
What evaluation will more than likely be used in a government building? - ANSWER
Cost-depreciation Approach
Is the government national mortgage association a primary lender? - ANSWER No,
Secondary market
What is the name of the legal document that represents the details of the loan - ANSWER
Promissory Notes
If two friends buy a piece of property together, how will they leave their portion to family
when they pass? - ANSWER Tenancy In Common
What would be classified as an over-improvement with regard to depreciation? -
ANSWER Functional Obsolesence
What is one major disadvantage in investing in real estate? - ANSWER Iliquidity
What do you call a person who has a broker license but works under a broker? -
ANSWER Broker Associate
What is it called when you can transfer your rights to another party on a contract? -
ANSWER Assignment
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