Mock 5

Question 1

Which of the following statements about the BC Tourne system or faults

Answer 1

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

Question 2

Which of the following statements about foreclosure of a mortgage is faults

Answer 2

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

Question 3

One or more of the following statements or faults

Answer 3

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

Question 4

Pam and Tom on a piece of real property as joint tenants which of the following is false

Answer 4

Because Pam and Tom or Mary Pam cannot serve her the joint tenancy by execution and registering a conveyance to herself

Question 5

Which of the following statements regarding building envelope systems are true

Answer 5

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

Question 6

In British Columbia there are three basic requirements for easement which of the following is not a requirement

Answer 6

The easement must be a negative in nature

Question 7

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

Answer 7

Ralph will not have any remedies against Nicolas Personally

Question 8

Which of the following is not a requirement to establish miss representation in contract law

Answer 8

Assertion Must be in writing

Question 9

Which one of the following is not an implied term of a mortgage

Answer 9

The borrower is entitled to assign the mortgage

Question 10

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

Answer 10

Mary’s offers represents an option agreement

Question 11

During a recent discussion about corporations are fine statements were made

Answer 11

A corporation can be sued and a corporation is a taxable entity

Question 12

Which of the following statements is true

Answer 12

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.

Question 13

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

Answer 13

Variable rate mortgages

Question 14

Which of the following are necessary for Susie a trading service representative to be liable for the tort of negligence miss representation.

Answer 14

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

Question 15

Given that all other factors are denticle the shorter the term of the mortgage on a bonus partially amortized mortgage?

Answer 15

The higher the effect annual yield

Question 16

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?

Answer 16

The assumption that cost equals value is not necessarily correct

Question 17

Breach of a condition is?

Answer 17

A breach of an in sensual fundamental term of the contract

Question 18

Of the following four statements which are false?

Answer 18

1. Real estate appraisers must be license in BC.
2. The market value of a real property as determined by an experienced appraiser will always be greater than the ceiling price of the purchaser.

Question 19

Of the following for statements which are true?

Answer 19

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

Question 20

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?

Answer 20

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.

Question 21

Which of the following statements regarding the management of individual loans is true

Answer 21

Arrears tardiness and making payments and defaults no payments be made or not comment on a mortgage loan

Question 22

Which of the following statement is true

Answer 22

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

Question 23

Which of the following concerning muni authorities is faults?

Answer 23

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.

Question 24

Which of the following is used in the calculation of maxima lower liable mortgage under the loan to value constraint?

Answer 24

Lending value

Question 25

Which of the following is not a procedure commonly used by a large institution lenders in order to reduce the risk associated with a particular mortgage loan?

Answer 25

Increase in the interest rate charged

Question 26

When a mortgage or grant the mortgage subsequence to a first register mortgage the mortgage has created?

Answer 26

Equitable mortgage

Question 27

Mark is Shane’s agent with this espress authority to rent Shane’s cabin for the summer months. However in his capacity as Shane’s agent Marc excepts an offer to purchase the cabinet instead. When she does go or is it the incident he is so impressed by the price he calls and tells the purchaser that he adopts marks act. Which of the following as a result of these actions at law?

Answer 27

When Shane adopts marks act he becomes bound by the contract as if Marc had been explicitly authorities to create the contract in first place.

Question 28

Pre-payment in a mortgage refers to?

Answer 28

The right to the Boro to pay off all or some of the outstanding balance during the term of the mortgage.

Question 29

Which of the following could not be used by a Defendant as a defence to a claim and negligence against him

Answer 29

The defendant did not intend to cause injury or damage to the plaintiff.