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Winmalee HS - Year 12 - Shelter Flashcards | StudBud
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Winmalee HS - Year 12 - Shelter
Winmalee HS - Year 12 - Shelter
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Questions
20
Answers
1
Which of the following is a common variation on a standard contract of sale?
property price
future plans for property
property inclusions / exclusions
settlement period
2
Old System title was replaced by:
Torrens Title
Strata Title
None of the above
Chain Title
3
Which Act outlines the main responsibilities of tenants and landlords?
The Housing Act 2000 (NSW)
The Residencies Tenancies Act 2000 (NSW)
Crown Lands Act 1989 (NSW)
The Residential Parks Act 1998 (NSW)
4
A loan whereby the property being purchased is used as collateral in case the money cannot be re-paid.
Equity
Mortgage
Bridging loan
Personal loan
5
Insurance taken out to protect the home owner from litigation against injury or death to anyone on their property
Building Insurance
Mortgage Protection Insurance
Home Contents Insurance
Public Liability Insurance
6
A public sale in which people bid for goods, and the sale is to the highest bidder.
sale by negotiation
private treaty
auction
Ebay
7
People on a tight budget should seriously consider which type of mortgage interest rate?
fixed
vexed
variable
exorbitant
8
Community housing and Social housing are the same thing.
False
True
9
People who cannot access adequate shelter also face issues with:
all of the above
education
employment
the police
10
The right to shelter is provided under Australian domestic law.
False
True
11
The standard 'cooling-off' period for the buyer of a property in NSW is:
5 days
7 days
14 days
30 days
12
The best time to sell a property via an auction is during a buyers market.
False
True
13
Two examples of shared space living situations include:
houses and villas
apartments and properties
units and flats
farms and townhouses
14
The Act which governs the administration and management of government owned land.
Residential Tenancies Act 2010 (NSW)
Australian Consumer Law 2010 (Cth)
Crown Lands Act 1989 (NSW)
Real Property Act 1900 (NSW)
15
The title used to regulate features such as shared features such as tennis courts and swimming pools in new estates:
Torrens title
Community title
Company title
Strata title
16
Caveat Emptor literally translates as:
guilty mind
let the buyer beware
fortune favours the brave
I came, I saw, I conquered
17
When a property buyer has an offer accepted by the vendor but loses the property after the vendor accepts a higher offer
gazoodling
gazumping
gazandering
gazundering
18
Which Act defines 'common property'?
The Real Properties Act 1900 (NSW)
The Strata Schemes Management Act 1996 (NSW)
Residential Tenancies Act 2010 (NSW)
Conveyancing Act 1919 (NSW)
19
The Act which covers any form of consumer credit including mortgages:
The International Consumer Credit Protection Act 2009 (Cth)
The National Consumer Credit Protection Act 2009 (Cth)
The Conveyancing Act 1919 (NSW)
The Australian Securities and Investments Commission Act 1975 (NSW)
20
The legal process used to transfer title from one party to another.
Conveyancing
Strata title
Torrens title
Old System title