Exam prep

Question 1

What year was the Unit Title Act established?

Answer 1

2010

Question 2

What was the purpose of the Unit Titles Act?

Answer 2

To provide a modern legal framework for the joint ownership and management of land, buildings and common space for all owners.

Question 3

What are some of the Key features of the Unit Titles Act?

Answer 3

• Formed body corporate
• Long term maintenance fund must be set up
• Responsibility of the body corporate to maintain common space.

Question 4

ADLS 6th ed. Agreement to lease is?

Answer 4

An agreement between two parties (the lessor and lessee) for the premise outlined in the first schedule and for the site and price negotiated in the first schedule. The document agrees the transfer of rights.

Question 5

First schedule includes aspects such as?

Answer 5

Rent determined, car parks and prices, the premise being leased, and the rent determined.

Question 6

Second schedule includes aspects such as?

Answer 6

Rent, rent review, ratchet clauses, ect.
Tenant responsibilities
landlord responsibilities

Question 7

Third schedule includes aspects such as?

Answer 7

Guarantee / Guaruntor

Question 8

Fourth schedule includes aspects such as?

Answer 8

Landlords fixtures / fittings

Question 9

Fifth schedule includes aspects such as?

Answer 9

Premises condition report.

Question 10

The construction contracts act was established in which year?

Answer 10

2002

Question 11

What are some of the key features of the Construction and Contracts Act?

Answer 11

• established a fear means of utilizing progress payments
• applies to all commercial and residential contracts
• payer / owner is allowed 20 days to pay
• contractor can stop working if not paid

Question 12

What are the key sections of The Building Act?

Answer 12

Sections 122, and 124

Section 122 - A building is earthquake prone if during a moderate EQ the building would a. exceed its maximum capacit b. would collapse

Section 124 -Dangerous, affected, earthquake-prone, or insanitary buildings: powers of territorial authority. The local authority has the right to fence and sign the building with appropriate wanings

Question 13

The Building Act was established in what year?

Answer 13

2004

Question 14

What is the purpose of the Building Act ?

Answer 14

To control and develop better practices in building design and construction.

• code of compliance certificate CCC
• Building wof
• licencing for building practitioners
• 33% nbs
• IQP can now be owner in most situations

Question 15

Resource Management Act was established in what year?

Answer 15

2005

Question 16

Purposes of RMA?

Answer 16

encourages and monitors best practices for environment. Ensures environment doesn’t suffer

Question 17

What does a PM need to be aware of in terms of the RMA?

Answer 17

• certificate of compliance (CoC)
• aware of permitted activity
• if activity changes it must meet requirements of RMA

Question 18

MAG stands for?

Answer 18

Minimum Annual Guaranteed Rental

Question 19

Stewardship is?

Answer 19

• A PM acting on behalf
• Honesty and transparency
• identifying conflicts of interest

Question 20

What year was the Property Law Act established?

Answer 20

2007

Question 21

What are the key features of the Property Law Act?

Answer 21

• all transactions must be in writing
• short lease, ie less than one year written / oral
• termination of lease in a future event
• assignments of lease / subletting

Question 22

What shopping centre feasibility model analyses potential sales per person per capita and the existing market share of a catchment area?

Answer 22

The Unsatisfied sales potential model.

Question 23

what is the IPENZ?

Answer 23

Institute of professional engineers NZ

Question 24

Two appraisal, risk, and uncertainty models are?

Answer 24

1. Risk / return

2. Affordable Land price

Question 25

S Curve analysis is?

Answer 25

An important tool for managing a project and being able to visualize progress, PM can identify project growth and identify areas which need action