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Real Eatate Exam > Mock 2 > Flashcards

Mock 2 Flashcards

1
Q

Under the common law of agency which of the following statement is true?

A

An agent who would not have capacity to enter into a contract herself may be able to make a valid her principal on behalf

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2
Q

With the respect to scope of agent authority apparent authority?

A

Doctrine of a estoppel

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3
Q

Which of the following statements regarding appraisals are true

A

The court provide some guidelines as to an appraiser it legal responsible under the tort lawl in contract law.

A quart of recognize that the reasonable margin of error exist when calculating damages as a result of negligence appraisal

A large over evaluation of property by an appraiser does not by itself establish liability on the part of the appraiser.

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4
Q

Tenancy at will

A

The tenant see where the tenant with The constant of a landlord occupied land as a tenant for a term that can be determined by either party at any time

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5
Q

Which of the following statements is true and in regards to open listings

A

In an open listing contract, if the seller disposes Of the property to a prospect that has not introduced of the listing agent, the seller does not have to pay listing agent that commission

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6
Q

Which of the following statement is true

A

The supreme court of BC may exercise both common and Equitable Jurisdiction.

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7
Q

Which one of the following statements best describes the difference between an assessment notice and a tax notice?

A

Attacks notice is a demand for payment while assessment notice is not

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8
Q

Which of the following statements regarding conditions in a contract are true?

A

In most cases the breach of the condition permits the innocent party to terminate the contract.

Time Is of the essence Clause that indicates that indicate performance is a condition of a contract

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9
Q

Which of the following statements is false

A

And agency agreement must be written to be enforceable

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10
Q

The agency contract that specifies that the real estate agent has the right to negotiate on behalf of the owner of respect to the sale of the property is called

A

Exclusive

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11
Q

Long to value ratio is the ratio of

A

Face value of a mortgage amount divided by not letting value of the property

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12
Q

Which one of the following does not facilitate best negotiation principles

A

Focussing on stating and defending the position of each party

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13
Q

Canada’s competition of regards false or misleading advertisement

Which of the following is false concerning the offense?

A

One test that the court used to determine whether a statement is misleading in the context of real estate licensee is a diligent licensee test

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14
Q

The practice of recognizing expenses they are inccured rather than when they are paid for this is

A

Matching

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15
Q

A balloon payment is any payment of

A

Principal over and above the regular payments weather occurs during or at the end of the long term

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16
Q

Which of the following would appear as debit on the seller Statement of adjustments

A

The amount of mortgage which the buyer will assume.

Legal fees involved to discharge a judgement from the sellers title.

The amount of time line for overdue taxes

17
Q

Bonus mortgages are subject to Pacific legal requirements under probation of

A

Customer protection act

18
Q

Which one of the following is not one of the legislative obligations imposed on the strata corporation under the strata property act

A

Obligation to exercise the power and perform the duties of the strata corporation

19
Q

At least for real state property is a contract by which the landlord grants

A

Exclusive possession

20
Q

An estimate the price potential rent is achieved by

A

Comparing rents for recently leased familiar spaces

21
Q

Which of the following statements regarding property appraisals his false

A

The value of the real property can always be established certainty

22
Q

Which of the following is not a consideration of planners based on local government planning process

A

Enforcement of the byelaws of a given local government

23
Q

Real estate is affected by a wider range of externalities the ny other commodity.it’s because of

A

Immobility of real estate property

24
Q

Which of the following statement is true with respect to common law duress

A

Finding of, common law duress will result in the contract being voidable by the party that the Rob free will to the contract

25
Q

Decision of disciplinary committee

A

Must be in writing and specify any discipline imposed

26
Q

Promotional mix is a blend of

A 
Publicly 
Sales Promotion 
Public relations 
Advertising 
Personal selling
27
Q

Which of the following factors is most likely to affect the value of residential real property in the short run

A

Customers opinions relating to residential real estate trends

28
Q

Which of the following is an accurate statement about principle of Indefeasibility

A

The principle of indefeasibility operates on the basis that register owners on the title provides conclusion evidence of the persons entitlement to the fee simple estate.

29
Q

If we were to become a limited partner in business she would need to know that

A

Limited partners how their liabilities to creditor limited to the amount of money they have invested business

30
Q

When setting a target market a good negotiator should

A

Set a resistance point that effect the sale & aspirations targets that represent the best scenario.

31
Q

The four Ps in marketing

A

The marketing mix

32
Q

Which of the following documents are regulated by the land title office in order for legal title to be transferred from seller to buyer

A

I freehold transfer

33
Q

Errors and omissions identity plan covers which of the following

A

Negligence acts committed by the licensee in the course of his real estate practice

34
Q

Which of the following statues is an exercise of the provincial government

A

The heritage conversation act

Environmental management act

Health Act

35
Q

Which of the following appear as debit on the buyers statement of adjustments

A

Conveying fee

purchase price

36
Q

Baseboard heaters are common example of

A

Convention

37
Q

Lost in value caused by outmoded in adequate designs in a building

A

FUNCTIONAL

38
Q

Contractual clauses in a mortgage will not apply when the borrower defaults

A

SALES

39
Q

Which of the following would appear as credit on the buyers a statement of adjustments

A

Deposit paid directly by the buyer To seller, sellers shares of taxes not yet do, the existing first mortgage first mortgage assumed by the buyer

Real Eatate Exam (32 decks)

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