Questions: How did speculators take advantage of the Homestead Act?

The answer is by creating phony claims.

This option is not directly related to how speculators took advantage of the Homestead Act. Speculators were more focused on acquiring land rather than catering to new markets.

While this might have been a tactic used by some to attract settlers, it does not directly explain how speculators took advantage of the Homestead Act itself.

Speculators often took advantage of the Homestead Act by creating phony claims. They would file false claims to acquire large tracts of land, sometimes using the names of fictitious individuals or bribing others to file claims on their behalf. This allowed them to control significant amounts of land without actually fulfilling the requirements of the Act, such as living on and improving the land.

This option is not accurate in the context of how speculators exploited the Homestead Act. Preparing the land for priority does not align with the fraudulent activities typically associated with speculators during this period.