Mock 5 Flashcards
Which of the following statements about the BC Tourne system or faults
The caveat that is registered on title will be effective until the party registered it removes it.
Document must be in the form prescribed by statute law to be enforcible between the parties.
Trustees are shown on title as register owners of an Estate or interest in land with no indication of the existence of the trust
Which of the following statements about foreclosure of a mortgage is faults
After an order absolute ifThe mortgage sells the property for an amount in excess of the total debit including the cost of foreclosure the mortgage is required to pay over the access to the mortgage account
One or more of the following statements or faults
An agent authority to bind his or her principles depends entirely on the express authority given by the principal and upon implied usual or customary authority.
Real estate brokers always work on behalf of the vendor in respects of the real estate transaction
Pam and Tom on a piece of real property as joint tenants which of the following is false
Because Pam and Tom or Mary Pam cannot serve her the joint tenancy by execution and registering a conveyance to herself
Which of the following statements regarding building envelope systems are true
Windows draft can be sealing the joints between the windows in the wall with chalking.
Fibre is made from shredded recycling newspapers with chemicals out to prevent fungi and fire
In British Columbia there are three basic requirements for easement which of the following is not a requirement
The easement must be a negative in nature
Nicola an employee of industrial servant is in the habit of venting a cloud of highly toxic gases into the air of the desk every night. Once is it escapes the cloud usually dress over Ralphs Apple orchid. Nicolas actions are strictly against company policy by venting the gas Nicolas saves time. Nicolas is aware that the gas is highly toxic. Roth has discovered that the omissions have destroyed in Apple crops. Which of the following statements is false
Ralph will not have any remedies against Nicolas Personally
Which of the following is not a requirement to establish miss representation in contract law
Assertion Must be in writing
Which one of the following is not an implied term of a mortgage
The borrower is entitled to assign the mortgage
On May 3 Mary offered to buy Harvey’s house and the offer was stated to be open for acceptance until 2 PM. May 4. Which of the following statements is faults
Mary’s offers represents an option agreement
During a recent discussion about corporations are fine statements were made
A corporation can be sued and a corporation is a taxable entity
Which of the following statements is true
Fibre insulation is made from shredded recycling newspapers with chemicals added to prevent fungi and fire and brick refers to application of a layer of brick to standard frame wall system.
Kevin and Sara are looking to buy their first home in Salmon arm. They have been saving money for a long time but will need a mortgage so long to help with the purchase. They believe the amount interest rates will decrease in the future. Given the information presented which of these mortgages options would be most appropriate to recommend in the situation
Variable rate mortgages
Which of the following are necessary for Susie a trading service representative to be liable for the tort of negligence miss representation.
A statement of fact or opinion given negligent by Susie.
Reasonable reliance on the statement by the person whom it was given that was the Detrimental to the party
Given that all other factors are denticle the shorter the term of the mortgage on a bonus partially amortized mortgage?
The higher the effect annual yield
The cost method of appraisal is only use on rare occasions to determine market value of the residential property properties. Which one of the following would be most correct as reasoning for in frequency of use?
The assumption that cost equals value is not necessarily correct
Breach of a condition is?
A breach of an in sensual fundamental term of the contract
Of the following four statements which are false?
- Real estate appraisers must be license in BC.
- The market value of a real property as determined by an experienced appraiser will always be greater than the ceiling price of the purchaser.
Of the following for statements which are true?
Courts have recognized a margin of permissive error of 10% in assessing damages arising as a result of a negligent appraisal.
A licensee real estate representative can give an appraisal of real property
Kermit who is renting rails house has been draining the above ground pool on a weekly basis. In the process of draining the water from the pool runs down and embankment and it’s gonzo’s backyard. Lately gonzo has noticed the ground level in his yard has sunk by 2 inches. Gonzalez seeks your advice and you correctly tell him that?
To succeed in court action against Kermit gonzo would have to prove the damage of significant interference with the use and enjoy man of his property result from current actions.
Which of the following statements regarding the management of individual loans is true
Arrears tardiness and making payments and defaults no payments be made or not comment on a mortgage loan
Which of the following statement is true
The consistency principle holds that once a business enterprises adopts wonder only excepted accounting principles the enterprise should follow the same principle in the subsequent year
Which of the following concerning muni authorities is faults?
Under the local government at a legal nonconforming use in city of Vancouver will lose that status if the youth is discounted for more than six months.
Which of the following is used in the calculation of maxima lower liable mortgage under the loan to value constraint?
Lending value
