IL CH6 Basic Real Estate Concepts Review Questions

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Voluntary alienation may occur by: A. condemnation B. will C. escheat D. adverse possession: B. will
Voluntary alienation during life may occur only through a: A. will B. foreclosure sale C. deed delivery D. devise: C. deed delivery
Essential elements of a valid deed include all of the following EXCEPT: A. acknowledgement B. writing C. competent grantee D. execution by grantor: C. competent grantee
The purpose of a deed being acknowledged is to: A. make the deed valid B. make the dee eligible for delivery C. allow the deed to be presented as evidence in court D. identify the grantee: C. allow the deed to be presented as evidence in court
The type of notice provided by recording is: A. actual B. reasonable C. protective D. constructive: D. constructive
Of the following types of deeds, which provides the grantee with the greatest assurance of title? A. special warrenty B. deed of confirmation C. sheriff's deed D. general warranty: D. general warranty
Which of the following covenants assures the grantee that the grantor has the legal capacity to transfer title? A. covenant of quiet enjoyment B. covenant of right to convey C. covenant of seisin D. covenant for further assuranc: B. covenant of right to convey
A deed in which the wording in the granting clause is "remise and release" is a: A. quitclaim deed B. special warrenty C. grant deed D. bargain and sale deed: A. quitclaim deed
Either a general warrenty deed or a quitclaim deed is uitable for a: A. judical deed B. deed of confirmation C. offical deed D. deed of gift: D. deed of gift
A grantor left a deed for the grantee to find after the grantor's death. The result was to convey: A. the title during the grantor's life B. the title after the grantor's death C. no title as the deed was not delivered D. no tit: C. no title as the deed was not delivered
The type of deed used to remove a mortgage lien when the debt is satisfied is: A. deed of surrender B. grant deed C. deed of release D. special warrenty deed: D. special warrenty deed
A deed passes title upon: A. delivery and acceptance B. execution C. recordation D. acknowledgement: A. delivery and acceptance
A claim of title by adverse possession may be defeated by the property owner by: A. permission B. confirmation C. will D. condemnation: A. permission
The type of deed that guartees the title against defects that were created only during the grantor's ownership is: A. bargain and sale B. special warrenty C. surrender D. release: B. special warrenty
A mortgagee's title insurance policy protects: A. owner B. lending institution C. seller D. grantee: B. lending institution
The successive conveyances of a title are called: A. releases B. remises C. links in the chain of title D. abstracts of title: C. links in the chain of title
Which of the following is a system of title recording? A. abstract continuation B. records of liens C. record of acknowledgement D. Torrens: D. Torrens
A title issuance policy may be written to protect all of the following EXCEPT: A. owner B. licensee C. lessee D. mortgagee: B. licensee
A title policy protects the insured against loss caused by defects in the title: A. exisiting at the time the insured acquired title B. created during the insured's ownership C. created in the past 40 years D. created by the ass: A. exisiting at the time the insured acquired title
All of the following are examples of involuntary alienation EXCEPT: A. devise B. lien foreclosure sale C. eminent domain D. execution by judgement creditor: A. devise
The NE 1/4 of the NE 1/4 of section 12 describes: A. 40 acres B. 160 acres C. 320 acrees D. 640 acres: A. 40 acres
The Illinois Affordable Housing Program is administered by: A. HUD B. IHDA C. IDR D. IHP: B. IHDA
J lives in a property for 12 years and sells the property to K, who lives in the property for 6 years. K sells the property to L, who holds the property for the next 2 years and claims the property by adverse possession. This adding of successive interes: A. tacking
Which of the following is INCORRECT regarding title insurance? A. the mortgagee's policy is generally for the loan amount B. the mortgagee's policy is assignable C. the mortgagor's policy is assignable D. title insurance is avai: C. the mortgagor's policy is assignable
Q inspects a property that is for sale. Upon inspection of the proerty, Q finds R, who is not the owner, living on the property. Which of the following statements is true? A. R is giving actual notice of his interest in the property B. R: A. R is giving actual notice of his interest in the property
IHDA is an actual acronym for: A. International Fousing Development Association B. Illinois Housing Development Agency C. Illinois Housing Development Authority D. Illinois Housing Development Association: C. Illinois Housing Development Authority
There are 26 sections in a township. The school section is: A. 9 B. 16 C. 18 D. 36: B. 16
Which of the following is INCORRECT redarding ranges? A. range lines run north and south B. ranges are counted east and west C. ranges are approximately 36 square miles D. ranges are approximately 640 acres: D. ranges are approximately 640 acres
To compensate for the curvature of the earth, correction lines are every: A. 4th township B. 5th township C. 6th township D. 24th township: A. 4th township

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