✅ Q1. What does a Section 66W certificate do? *

A. Reduces your stamp duty

B. Waives your cooling-off period

C. Extends your settlement

D. Locks in your interest rate

E. Is required by the selling agent

✅ Q2. What’s the standard cooling-off period in NSW (unless waived)? *

✅ Q3. Which of the following is a true benefit of using a buyer’s agent? *

A. They can guarantee capital growth

B. They provide free legal advice

C. They represent the buyer’s interests

D. They work for the selling agent too

E. They handle the loan application

✅ Q4. What is a major risk when buying at auction? *

A. Cooling-off period applies

B. No time to inspect the property

C. Purchase is legally binding immediately

D. You can back out within 24 hours

E. Vendor must accept your offer

✅ Q5. What typically happens at settlement? *

A. The property title transfers

B. The seller pays stamp duty

C. The buyer receives a rental agreement

D. The buyer pays the agent’s commission

E. You sign your loan documents

✅ Q6. What are potential advantages of off-market properties? *

A. Less buyer competition

B. Always 20% below market value

C. More transparency in the sale

D. Access to properties not publicly advertised

E. Vendor always accepts lower offers

Note: More than one correct answer

✅ Q8. What are signs a property might be overpriced?

A. Sells within one week

B. Priced above recent comparables

C. Has multiple offers

D. Vendor rejects all reasonable offers

E. Online listing has only one photo

Note: More than one correct answer

✅ Q9. What’s a key benefit of obtaining home loan pre-approval? *

A. It guarantees you’ll get the loan

B. It allows you to skip LMI

C. It shows sellers you’re a serious buyer

D. It locks in a settlement date

E. It avoids legal fees

✅ Q10. What does "underquoting" mean in the NSW market? *

A. The agent quotes well above the reserve

B. The vendor is underselling their home

C. The agent advertises a price lower than likely sale price

D. The property is sold without legal checks

E. The buyer offers less than asking

✅ Q11. What documents should be reviewed before signing a contract? *Note: More than one correct answer

✅ Q12. What might a conveyancer or solicitor do? *

✅ Q13. What is stamp duty based on? *

✅ Q14. What does LVR stand for in lending? *

✅ Q16. What is true about off-the-plan property purchases? *

A. You can inspect the completed property before buying

B. You usually only pay a 10% deposit upfront

C. You get to move in immediately

D. Stamp duty is always waived

E. There’s no risk of valuation shortfall

✅ Q17. What is the First Home Owner Grant in NSW? *

A. $5,000 grant for existing homes

B. $10,000 grant for buying or building a new home

C. $15,000 grant for regional homes

D. $20,000 grant for apartments

E. Grant for all buyers regardless of experience

✅ Q18. What happens during a final inspection? *

A. Final loan paperwork is signed

B. You check the property is in agreed condition

C. You register for stamp duty

D. You pay your legal fees

E. You negotiate the contract again

✅ Q19. What is commonly included in strata reports? *Note: More than one correct answer

✅ Q20. What is a good way to avoid overpaying for property? *

A. Offer early and often

B. Rely solely on agent’s price guide

C. Use recent comparable sales for reference

D. Emotionally commit before negotiation

E. Skip due diligence to move faster

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