Mock 1 Flashcards
The difference between a license and Lease is important in determining the set of rights a tenant has. What is the best way to distinguish with the difference between a license and a lease.
Look at the terms in the agreement to determine the parties INTENTION as to whether or not the agreement has granted EXCLUSIVE possession to the tenant
In which of the following instance with a contract of purchase and sale be most likely to remain in full force
The purchasers signs his or her right under the condo purchase and sale which includes the sale contact to third-party before completion
The investment method of appraisal is generally used for
Rental income
In which of the following mortgages does the repayment payment increase on the regular basis
Graduate
Consider curable functional depreciation in a building
Brass fixtures in the bathroom
Which of the following terms regarding super structured or true
Plate - a horizontal lumber that the studs rest on the bottom and top of the frame walls
The local government to create three different levels of local government which of the following is not a local law
Local enterprises zone
Which of the following types of authority would not provide an agent with binding contract between his principal and a third-party
Assumed authority
Lenders who are attempting to ration mortgage funds could
Decrease their gross debt service ratio
Which of the clauses in the mortgage does not directly apply wanna borrow defaults on a mortgage
Repayment clause
Listing contracts typically contain which of the following
- The vendors obligation to pay commission.
- The scope of authority of an agent.
- The price at which the vendor wishes to sell.
- The Length of the agency
Which of the following statements regarding mortgages are true
- And a majority of cases the insurance fee is added onto the loan amount borrowers have use their cash for down payment and other transactions.
- With an insured mortgage and insurance company guarantee that the lender can recover all funds known in case of default
And insured mortgage loan is
Lenders protection against law should the borrower defaults
Local governments execute planning controls through the use of three principal types of registration. Which of the following is not one of these regulations
Vacant site bylaws
Complete the phrase a mortgage is
Contract
Evidence of a loan
Security for a loan
Which one of the following statements is true with respect to doctrine of stare decisis
If a court in BC has already decided a particular issue and a subsequent court is faced the same issue the earlier decision should be governed the subsequent decision
Invitation to treat is
Our request for offers
We often talk about the duties of an agent to Princeville cover at common law what duty to his agent
The duty to indemnify the agent for any expenses which the agent may have accused
Which of the following statements concerning an open listening is false?
- Under the opening listing commission will be paid to the listing licensee whether or not he or she is the effective cause of the sale.
- The vendor may try to sell the property by himself or herself and cannot use a real estate agent.
- Under the real estate service at all as things must be in writing
Assume that your firm selects are relatively small target market and then focus that effort on satisfying the needs of the market that is known
Concentrated Marketing
Which of the following describes a strata plan
Indicate which part of the strata project or property or strata lives in which are common areas
What is a limited partnership
General and limited partners have the same income status
Which of the following does not relate to the topic of contract law
Depreciation
Blend and extend refinancing
Typically allow the borrower to take advantage of the low interest rate on their current mortgage funds well as additional funds while avoiding costly repayment penalties.
