| Question | Answer | % Correct |
|---|---|---|
| How long is the cooling-off period in QLD? | 5 business days | 100%
|
| How many days is the standard settlement period in New South Wales? | 42 | 67%
|
| It is an online lodgement and financial settlement platform. | PEXA | 67%
|
| A situation where a property is owned by one person. | Sole proprietorship | 67%
|
| A unique 8 digit identifier assigned to each property in Queensland. | Title Reference | 67%
|
| What does GST stand for? | Goods and Services Tax | 33%
|
| A legal agreement to borrow money from a bank or other financial organization. | Mortgage | 33%
|
| A legal document created by a person who entrusts another person to act on their behalf. | Power of Attorney | 33%
|
| What is the other name for the Vendor Disclosure Statement in Victoria | Section 32 | 33%
|
| A specific terms or clauses included in contracts to address unique aspects of a particular agreement. | Special Conditions | 33%
|
| A process to reduce the risk of identity fraud and the registration of fraudulent land transactions. | VOI | 33%
|
| It is also known as the Federal Capital Territory until 1938. | ACT | 0%
|
| Two common types of conveyance in Australia. | Commercial | 0%
|
| A legal right that allows a property owner to use or access a specific portion of a neighboring property or piece of land. | Easement | 0%
|
| Caveat, Mortgage and Easements are examples of what? | Encumbrances | 0%
|
| What is the capital of Tasmania | Hobart | 0%
|
| It is the most common form of sale contracts used in Western Australia | REIWA | 0%
|
| Two common types of conveyance in Australia. | Residential | 0%
|
| It is also called as "An Early Release of Deposit" in Victoria | Section 27 | 0%
|
| A legal ownership of the property is held by a trustee who manages it on behalf of the beneficiaries. | Trust | 0%
|