Mock 8

Question 1

Which two individuals are performing activities covered by the real estate services act

Answer 1

A sales timeshare for contractual rights to use the property on behalf of hotel in exchange for a commission on each sale.

2.Collects rent from the other tenant and his apartment building on behalf of the landlord who pays him a fixed fee per month

Question 2

The marketing mix consist of?

Answer 2

Product
Place
Price
promotion

Question 3

When a property is taken and trade by the seller as part payment of the purchase price?

Answer 3

The value of the property will appear as a credit on the buyer statement of adjustments.

Question 4

Change the mortgage interest rates tend to lag behind changes in bond deals in both upwards and downward movement. One reason for the stickiness is?

Answer 4

The wind use of a Vance commitment for a rate of interest before alone is advanced

Question 5

Assuming a real estate developer is not exempt it from the disclosure statement requirements under the real estate development at which of the following obligations must the developed fulfilled?

Answer 5

The developer must provide a copy of disclosure statement to both the superintendent of the real estate and the purchaser

Question 6

I keep purpose of a foreclosure action is

Answer 6

Extinguish the board equitable rates to redeem the property.

Question 7

Which of the following are among the duties and powers of the real estate Council

Answer 7

Supervising the educational qualification of the licensee

Question 8

When preparing an appraisal using the income method which of the following items is deducted from gross realize revenue to arrive at net operating income?

Answer 8

Operation expense paid by landlord

Question 9

Rita the owner of radiologist leases one floor of an office building from Vic for the term of five years. Six months into the agreement and without warning Rita stops paying rent and vanishes. Vic may seek all of the following remedies except?

Answer 9

Applying for an arbitrator under the residential tenancy act

Question 10

Which of the following is not a remedy for private nuisance?

Answer 10

Notice of civil claim.

Question 11

What are the remedies of private nuisance?

Answer 11

Aid

Abatement
Injunction
Damages

Question 12

A breach of condition of a contract question

Answer 12

Allows the innocent party to Terminate the contract

Question 13

You were thinking of purchasing undeveloped land to use for development purposes as an investor you will determine the value of the undeveloped land by?

Answer 13

Determining the value of the improvement land and subtracting the development costs

Question 14

Trespass

Answer 14

Intentional tort, meaning that the act if trespassing by voluntary

Question 15

Scott grants RBC Bank mortgage over his summer cottage on a lake. RBC outlaw has a contractual interest in Scott’s cottage. What is the legal name given to Scott’s remaining interest?

Answer 15

Equity of redemption

Question 16

Which of the following statements concerning the comparison between a license and Lease is true?

Answer 16

The license creates a contractual privilege where the lease create an additional interest that runs with the land

Question 17

Which of the following would likely not be considered an occupied hire under the occupier liability act of BC

Answer 17

A maintenance person who is hired by a business to clean the windows of their building each day

Question 18

With a portable mortgage

Answer 18

A boreal can save money when I existing mortgage at a lower interest rate than the current rates

Question 19

Which of the following statements is true

Answer 19

Subject to some exceptions, a byelaw may prohibit the rental of strata lot on the condominium complex

Question 20

The city of Bear’s Ville was historically the world headquarters for the production of CDs. Since MP3 players came into existence the town population has been declining. In 2004 it was discovered that the area surrounding Bearville was the only remaining in the area where is rare species of Bear’s lived. Since then Bearsville has become a major tourist destination. In 2006 Bearsville rezoned an area from commercial to residential use a comedy as population increase.Assuming that none of the following affected owners made as a quinces application to the Muni which of the following examples are legal conforming use of land?

Answer 20

1. 2009 Jeff purchase Daniels Hardware store
2. A law firm was located in an office which occupy 30% of a commercial building before rezoning. In 2008 because of the CD packaging company moved and left the commercial building, a law firm took over the unit so that it’s now occupies 70% of the commercial and building

Question 21

Jason looking to sell his downtown apartment unit entered into a multiple listing agreement with Pam a licensee at M Realty. Which of the following statement is false

Answer 21

Jason is free to sign multiple listing agreement with a number of licensee and the licensee that affects the sale will be entitled to the commission as stated in the multiple listing agreement.

Question 22

Which of the following statements regarding the stress test for qualification rule for unsure mortgage is true?

Answer 22

The mortgage qualify rate is based on the greater of the Bank of Canada five-year bench mark rate 2% above the mortgage negotiate a contract rate.

Question 23

What are the following statements are true?

Answer 23

Small claims Court, in BC does not have jurisdiction for cleaned exceeding 35,000

Question 24

Which of the following statements are false with respect a statement of adjustments?

Answer 24

1. The practice is to hold a seller responsible for the taxes on the adjustment date itself.
2. The total of the debit column on the seller statement must be a denticle to the total of the credit calm on the buyer statement

Question 25

Which of the following property is not subject to an assessment based on special use?

Answer 25

Environmental contamination of properties

Question 26

The purpose of code of ethics is too?

Answer 26

Set a standard of conduct reasonable expected of members of a certain profession.

Provide guidelines to ensure that the given professional actions are both lawful and morally fair.

Ensure that the reputation of a given profession is upheld in the public’s eyes.

Question 27

Which of the following statements comparing condos and co-ops is false?

Answer 27

Both strata & coops are created by depositing an incorporation agreement to the land title office

Question 28

What are the four Torren system of registration?

Answer 28

Assurance principal
Affect Of registration
Indefeasible principal
?

Question 29

Which of the following is generally excepted accounting principle?

Answer 29

Objectively

Question 30

Which of the following is true with respect to a listing licensee obligation to make a disclosure to the client seller at the time the licensee present an offer to the seller?

Answer 30

If the remuneration is to be received his money the remuneration must be expressed in $ amount on the disclosure form.

Question 31

With Regards to the licensee purchasing property for themselves which of the following statements is false?

Answer 31

Disclosure can be made within a service agreement or any other agreement that gives effect to the sale in real estate

Question 32

The British Columbia real estate Association is a provincial Association with three primary obligation and one of them is

Answer 32

Education

Question 33

The Omnibus is clause of a mortgage agreement?

Answer 33

Allows the lender, in the event of the borrowers default, to add the default amount to the principle of the mortgage, subject to the interest stated in the mortgage

Question 34

Paul grants Lilly his agent expressed authority to list his head but has not clearly granted the right to show it potential buyers. If Lilly shows the hose to a prospective buyer she would be acting on?

Answer 34

Implied authority

Question 35

Upon satisfactory completion of the initial registration of a manufactured home in BC the register issue a decal which must be affixed to manufactured home.The decal?

Answer 35

Issue a proof of registration under the manufactured home Act

Question 36

One of the most important features of an energy efficient home is that the home?

Answer 36

Has a draft free building envelope.

Question 37

Which of the following statements regarding property appraisal is false?

Answer 37

A large over valuation of a property by an appraiser, by itself are always establish liability on the part of an appraiser.

Question 38

An appraisal physical wear and tear that can be corrected economically is best known as?

Answer 38

Physical curable depreciation

Question 39

By extending the amortization period of a loan to 30 years?

Answer 39

Means the repayment of principal is spread over a greater number of payments and making each payment smaller

Question 40

Which of the following types of conduct does the competition act not explicitly address?

Answer 40

Spam

Question 41

Which of the following is not a unity required to create a joint tenancy

Answer 41

Disposal

Question 42

Before providing trading services to a customer a licensee must obtain

Answer 42

Inform consent of that customer

Question 43

Common property in a strata title development is?

Answer 43

Subject to strata council rules regulating its use safety and conditions

Question 44

Which of the following courses of action can a successful plan to pursue in order to enforce a judgment?

Answer 44

Execution

Question 45

The act of discouraging the reduction of prices placing upwards pressure on prices and discriminating against someone because of their low pricing policy by means of threat promise or agreement or offence under though?

Answer 45

Competition act