OKLAHOMA REAL ESTATE TEST QUESTIONS & ANSWERS SCORED A+ TO PASS

$1,000 - Answer-The declaration of homestead in Oklahoma, filed by the head of a family by March 15, will exempt from the assessed valuation of the property the amount of 1 - Answer-How many base lines intersect each principal meridian in the rectangular survey system 12 - Answer-How many lots, each measuring 72.5 feet wide by 100 feet deep, could be made from a two-acre parcel of land? 4 - Answer-How many years are the Oklahoma Real Estate Commissioners appointed to serve? 40 - Answer-How many acres are in a lot that is 1/4 of a mile wide by 1/4 of a mile long? 43,560 - Answer-There are _____________ square feet in one acre. 6 - Answer-The section of land that in located immediately to east of Section 1 would be section 70% - Answer-In the United States, about what percentage of the population lives within one hundred miles of a coastal line? A "chain of title" is a(n) - Answer-record of a property's grantors and grantees A Deed - Answer-A Written legal instrument which, when property executed and delivered, conveys all rights, title and interest in realty from the grantor to the grantee. A deed - Answer-Must be in WritingA Executes a deed to B. After A recorded it, B moves into the property. Later A seeks to set the conveyance aside, claiming that there had been no delivery of the deed. Why will A probably not succeed? - Answer-Delivery is presumed by recording. A grantor's interest, if any, in a property - Answer-A Quitclaim deed conveys which of the following? A life estate may be granted - Answer-For the duration of life of the grantee or the life of someone other than the grantee. A monument may be - Answer-Any physically identifiable object. A concrete marker on iron pipe. A parcel of real property may include - Answer-Land and improvements. mineral rights, trees,houses and septic tanks. Airspace, surface, and ground beneath the surface. A patent - Answer-The grant of title by a government body to individual persons is known as A recorded subdivision plat is used in the - Answer-lot and block system A tenant in common owning an undivided 1/2 interest - Answer-Ann and her brother, Bob, inherited under their mother's will title to a house in joint tenancy. Ann married and had title to her share put in joint tenancy with her husband. Bob is now A township is - Answer-6 miles square A valid deed must - Answer-Describe the property. Name the grantee. Name the grantor. abstract of title - Answer-A collection of all recorded instruments, chronologically arranged, affecting title to a parcel of real property is a(n)Accretion - Answer-The acquisition of land due to the gradual accumulation of soil /alluvion/ by natural causes, resulting in stream or river shoreline changes. Actual & Appartent - Answer-Agency Authority-For the purpose of real estate brokerage, Two major types are identified: Actual Authority - Answer-By far the MOST COMMON type. It is the authority specifically and clearly conferred by a principal. It consists of Expressed Authority & Implied Authority