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Real Eatate Exam > Mock 3 > Flashcards

Mock 3 Flashcards

1
Q

When a licensee purchases the property from the seller he or she must disclose that he or she is a realtor and falls of disclosure statement which of the following statements are false?

A

The code of ethics along with real estate Services act and the customer protection act demand licensee to file a disclosure statement.

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2
Q

Which of the following statements about fixtures and chattels is false?

A

Where an object is affixed for a better use of enjoyment of the object, its is considered to be a fixture

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3
Q

Post beam and plank star refer to?

A

Floor to roof windows with necessary framing off in place between posts

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4
Q

The law and equity a contains a provision that is often required to as the requirements of writing.Which one of the following accurately summarizes the climate of writing contain in the law and equity act?

A

None of three statements actually summarize requirements of writing.

1.Contract respecting Lang can never be in force against a party who has not signed it. A contract respecting land must be in writing or it is void. A contract for the sale of land must be contained in one written document.

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5
Q

Replacement cost is?

A

Modern

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6
Q

Reproduction cost

A

Replica

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7
Q

Joist is

A

Horizontal framing member used to support a floor

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8
Q

One of More of the following statements describing the BC land registration system is false?

A

Assurance Fund will compensate every financial loss and inccured as a result of the ceiling and registration system regardless of of the lost

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9
Q

Consider the following statements regarding mortgage loans true?

A

A short term partial amortized Mortgage permits re-adjustments for mortgage interest rates by the lender at maturity allowing the lender to match the interest rate on its assets to the rates on its liabilities

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10
Q

Wattage in the Canadian electrical code system is

A

A measure of power or consumption

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11
Q

Which of the following statements regarding general acceptance accounting principle is false?

A

Matching principle states that expenses are always record at one paid

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12
Q

Baseboard units are used in?

A

Convective heat

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13
Q

A term and a mortgage provides that if a mortgage or is in default of any payments on the property the mortgagee may pay the amount owning and add the same amount to that year carrying interest at the same pacific rate this term is known as?

A

Omnibus

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14
Q

Long to value ratio is?

A

Maximum loan divided by lending value

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15
Q

Which of the following statements regarding lending value or false?

A

Lending value is always equal 98% of the purchase price.

Lending value is in an estimate of the mortgage loan a purchase will be able to obtain.

Lending value is equal to market value

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16
Q

When an order absolute is obtained by a petitioner who is in the second position for the second mortgagee?

A

The petitioner may sell the property after taking title to it in the positioner does not have to account mortgager for any profit made

17
Q

Which of the following is not one of the requirements of a building scheme?

A

The buildings scheme must be approved by each of the initial purchasers and then in force against each of the lots

18
Q

The term which makes the redemption day so distant as a result in practical terms in the mortgage is not being redeemable will also be?

A

Void

19
Q

Which type of mortgage payments will gradually increase overtime time

A

Graduate

20
Q

The purpose of real estate development marketing act is to protect the public by requiring developers to

A

Meet requirements or approvals to the type of property being market. I’m sure the purchasers tiles on purchase. Prepare and file I just close statement in the form required.

21
Q

Whenever the amount advanced to a borrow is less that the face value of the mortgage loan is referred to as?

A

Bonused

22
Q

The petitioner has granted an order of Nisi of a foreclosure and the respondent has 6 months as redemption period. The borrower has failed to pay the amount due within the redemption period. Now the petitioner may return to court and ask for ?

A

Order absolute of foreclosure

23
Q

Which of the following is inconsistent with generally excepted accounting principles?

A

Assets are the valued upwards to account for the effect of inflation

24
Q

Which of the following elements is not required in order to establish a restrictive covenant?

A

Covenantor Must also retain the restricted per property as any subsequent purchase or will not be a part of the original contract

25
Q

How are prepaid expenses and income taxes payable be classified on the balance sheet?

A

Prepaid expenses, current assets, income tax payable,Current abilities

26
Q

Where are Princeville has granted an agent express authority to sell his house but has not granted the right to show it and the agent shows a house to a potential buyer the agent is said to be acting on?

A

Implied authority

27
Q

Which of the following statements is not true?

A

In a conflict between statue of Law and Equitable principles, equitable principles will prevail

28
Q

Which of the following is the best description of a property that have the Latent value?

A

A property that poses a potential for redevelopment

29
Q

Which of the following steps is part of the pleading process?

A

Response to a civil claim

30
Q

Which of the following is not an example of a situation in which a landlord can end residential tenancy agreement for cause?

A

Renovations

31
Q

Which of the following statements is true?

A

Where are the licensee ask only for the vendor real estate commissions always appear as a debit on the statement of adjustments and does not appear on the purchase statement of adjustments

32
Q

Following could be used by a defendant as a defence to claim is negotiations

A

The defendant did not for see the type of damage that the plaintive suffer as a falling in the Outcome

33
Q

Which of the following statements about fixtures and chattels are false?

A

We’re an item has been a fix for the Hampton of the use of the premises that is evidence that the chattel

34
Q

The doctrine of privity of contract

A

Does not apply to contact were an interest in land is created

35
Q

Book value of an asset best defined as

A

Purchase price of the asset any depression take him to date

Real Eatate Exam (32 decks)

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