;1102

iThe REEBA 2002 act states that a sales person can be designated as a broker of record for a1 brokerage. .

I! ~jA)r: True: jR' (~,

c : False !:'1:-;'04---'-- .;~l\;napp!iCant's registration or registrant's renewal is refused or revoked, the person must wait at I

Iteast for how many months before re-applying or provide evidence that material circumstances Iiregarding the application have changed? . i! II i

,~i ics

~._, ~ 31~~ ~L

Ic)C! (~)iD) 481. " I- =-4,~==~====~================~===============================================---jlwho oversees regulatory matters and other activities centered on registration, consumer protection,!comp!!ance, and professional standards?

•......JP-.) CREA"; .,....: Fn '..' Local rea! estate boardsIf?' RECOV! ,..1D) Brokerage;..._~_, ._._w_~.~· ~~ ..~.~..~._ ..•.•...:.....~~ __ ~~~~_~~~~~_~~~~~~~~~_~~~~

;1106 ;How many credit hours of mandatory continuing education are required in every two-yearjregistration cycle following permanent salesperson status?

1 t ·JC) 22

:-..--.--.--.-- ..-:---.-:..;.--.:..-----:.;~-'-'----=-- ...

t~)(-

28{ r:!j,:n t.. 26~t.,;J

I 24h107 ~-' -''iIf uver f!!es complaints about a salesperson with the local real estate board, what would the board

luse to determine their course of action?

i1 r-lA) ... The CCD processi r-IB) .. The RCI process

~ The CDJ model! (",ID) '" The CMHC model

kommission is between listing and selling portions and between!salesperson and-:--:""b-ro-:"k-e-r-.---

~i'lA) >•. '. Allocated/Split

;--jS) " Split/Distributed! ~""i ~.

le)" Allocated/DistributedJ1 CiD). - ..Distributed/Split

[1109 iJohn was living in his own house at outskirts ofth~ ~ity for last 25 years. Builders constructed!Several high value new homes in the area immediately surrounding old home of lesser value. AfterIthis John's house value was increased. it was affected by the principal of:

Ii r

[2jA\; surorus productivity

is) Progression, (".1C) .... Substitution

i (';.. iD) ~C~ha~n~g~E~.~~~~~~~~~~ __ -=~=-~~~ __~~~~~~~~_~_~_~;llio----lFRIs~tands for

iII C-l.••.) Federal Reai Estate Investorj ;A-.

~"' ... ,I ' Fellow Real Estate Investor

, ID)~-----~---r------~-------------------------------------~------~-----------~------, I'======~==~==~==~========~lrn residential real estate market which of the following affects the most?II, ••.••

"jA Changes in laws

Changes in family composition

Fellow of the Real Estate Institute

Federal Real Estate Institute

,1115

[C) Changes in the education system1 r":

',i,ID)\ ~'.. Chljnges inparliaiTlent.,__ . ~+_"_ ==_ ====:::::::::::::::::::::::::::===:::::::::::::::::::::::::====:::::::===::::::::::::::====:::l

j 1120 lPeter owns a bung low with a very large back yard, works from home office. He feels pride using it for![phvsrcat fitness. But for average employed persons it was painful excerice for grass cutting and i[rnalntirunq. Peter was attaching additional $26000 to the price tag, while selling. What type of value Ilthis referes to? I. II I1 C !lA) Valueinu~ I1 r . i

. 1B) Value in exchange i~--.:.:.~-::-!. . . . . . ~! 1121 iThe CPI tracks 600 goods and services purchased by the average family, contains a orice index for I: 1 new houses. That includes . 1

·t !

t;1 __

l L10.) t.' Labor only~ Labor & ~.oiaterial

:iC) r: Land, Labor Bo. MaterialI r-[ci ' Land & Labor

r- I

1WhiCh of the following characeristics suggest that it is a seller's market?I

lA) C Fewer buyers relative to homes for saleI (':.,.18) - Stablized and declining prices! rI~ Lonqer time to sell

l~. None of the above ..

iFor a particular period there were 2000 homes on sale and 580 were sold. What does it indicate?

.{·i r-

~

iA" > Seller markett ;',.B) '., 8uyer marketj {'le) Stable market

1 C·.10) Signify nothing--!---._ ..

i1123

:1124 jAccording to encylopedia business cycle has 4 components, 3 of them are Prosperity, Recovery,iRecession and 4th one is market bubble?

r-.•.....True

False-'------~1125

Direct Comparison Approach

Income Approachf~

Cost ApproachC)

""D)

~.".;None of the above, it has 4 steps

..---- .•..•~---, ----'

IBUilder Fieldstar has completed 95% of the work on a single detached home, is pending for sate.[Accordinq to CMHC, this home is categorized under:,1

i;1127

( ,1>""'";

~

IA):~Pending starts

1B . Not Absorbed

!C) '. Completed and not absorbedj •1D) '. None of the above

jJohn cailedthe sales per~on Sandy to sell his single ho~se where he was living f~r I~~t5y~~rs in the[North side of StarCity. While new house were being developed on south west part of the city. Sandy[prepares a CMA. Cl"1A is a... '.,i'1 r:jA) Comparative Market Appraisalj r.;·16) .•. Continuous Market Analysis1 ('

j t1i ::::::::eM;::t:::~:::s_:1128 I .. ich one is not true?

i

L) The Nominal Interest Rate is the same as Stated Interest Rate.'jhi) Capitalization is the method of converting gross income into vaiue.Hi) tv"larket Price is derived from several comparable market values.

!iiV) When ana!yzing market trends, the value that appears most frequently is called Median.

;1129 ,When calCUlating rent ror an office, the rent is based on:

j} ('.~'~::~~~~:e,tC-f r

IC) Useable areaI"{ r:ID) Total area~------~.~----~--~--~~~~--~----~~~~~--~~~~--~--~~~----------~----~

:1l30 jpeter adds a $8,000 bar in the basement which adds $11,000 to the value of the home. This islconsider the principle of.. ...

ii,iii & iv

i ,.....

jA'\. ;...::r">j Anticipation1 ClB)" Progression@ Contribution

,D)' Highest& 8estuse:------yi

"

r --~i--

~--..~-.-----;--:. "-

iIExcluded areas when measuring a home include... li!k Garage', porches, bathroom, I

~ Porche" garage" basements Ile) Laundry rooms, basements, attic 1I

~ rI • . t,D) Attic, Laundry rooms, Garages I.\The closing date is on November 14th. Buyer is assuming a mortgage with a balance of $30210.24 as Ilof that day. The seller paid the mortgage payment for November 1st of $495.12 . The interest I·lportion of the payment is due on December 1st is $402.30 will be paid by buyer. On the statement ofladjustrnents, what portion of the interest will be credited to the buyer?' Ii I

in!lA) . $402.30 I

1s) r $227.97 I1

i;C) $174.33

1) $0 li.-- ---~~.~.-.~~-~~-~~-~=~~-=-~~~~~~~-~~~~-~--~~-~~::1142jThe median price in Maplecity was ~8G-six months ago. The current median price is $231,500. 1I

IFind the %age change.

I 1ez:o ~ ;L;}--i.{ ~~ ;J-.Z \ '500- 0-~'1S-oD " , i 7'-1=!A) f' 3.12 I -e, 3,1:l-la) 3.02 II r !l.C) 1.51 i

le!ID) 1.56 !

,.----.-.--. .. IiSam and Maria are sales persons with Maple Realty InSt. It has an arrangement that comrnision Iishare between listing & selling sales persons is 40/60(70/30 split between listing sales person & Ijt"iaple Realty and 60/40 split between selling sales person & Maple Realty. The commision rate is 6%.1lsarn iisted a house for 300,000 and was sold by Maria at 95% of the asking price. Which one of the IifoHowing statement is true? I~ !

"I tji) Maple's share $10944, Sam's share 2052 & Maria's share 4104 !pi) Maple's share $6156., Sam's share 615q & Maria's share 4788liii) Maple's share $6156, Sam's share 4788.& Maria's share 6156[lv) Maple's share $10944, Sam's share 4104 & Maria's share 2052j

;1140

p.141

:1143

,I

--t,

i r

~l'::" :~I·t .... •• I

11

I c: li• -ID) .' iri144-·--1-Vv':"'h~ic-r~.-o-n-e~h-a~s~'(~'h-e~m~.o-r-e~p-a~y-m~en-t~(-p-I)~jn-a-~-y~e-a-r-a-n~d-b-y~h-O-w-m-u=C~h-?---~~-~~-~--~--!1

.. Ja)_1"_1o_rtgageof $290,000 amortization period 25 years paid bi-WeekIY@4.5%interest,orJ

1--, . r .IS) $5,741

~$496'744, $59,832

E ~~;~_-::' !The selier is Selli~ga home. It has an oil-fired heating system with 250 gallon oi! tank. The saie wiil. [closes on Feburary 28th. On the day prior to closing, the tank is filled for 172.5 gallons @ $2.49 per

Igailon. What amount will be credited to the seller, On the statement of adjustments?iI! r-

~ ::::.::i., C:l'--i $192.971 r:

: ID) Not to be consideredii154~·-_~·---·-iCai~;!a·tethe -area".. I

Jl;r90;9~~il/j skY''''.jt

I---l!

liP-I (cr0)tL(g)- ;l-.G~~r

Can not be calculated with the information available

4128 Sq. Ft.

139 Sq. Ft.

2064 Sq. Ft.,..--.----.~,;..-.:.'-----_~,~~~~~_~_-_~~~~~~_------_~~_~~_--;1155 jParkers have purchased a home for $250,000, the yearly property taxes are $2160. It was bought

[tor approximately 96.5% of the asking price. The sale closes on July 31st. What is the land transferltax on the house?

of

i! ,..-.I ,.iA.) ~22.71! ..;-

iB) \.' $2239

l~ ..I C.C) $2225

ID) C· $2575 "....m mm .m.' . mm m . .. .. . ...•

!1156jThese are the sold p~i~es for ~ome house: 140,000,145,000, 130,000,155,000, 135,000, 138,000, I1A9000, 130,000. Wnlch one IS true? iI !: li r~jA) 130,000 Mode & 140,250 Median

, : .".....," S •: is)' 140,000 Mode & 139,000 Average

L__~39'OOO Median & 140,250 Average

w •••

'-----.-'Jb) Mortoage of $290,000amortization perlod20 years paid monthly @ 4.0% interestI ~

1,1 ,,_4, ~. .:jA)' b by $3266.33J ('":IS)' b by $272.19i it""'"'

je)~' b by $1012..25I r.

iiD) ,. b by $1786.33;.~-....-.....•.•...•.~~ .

:1145 IMari" is going fer a mortgage. Her monthly income is $5416.66. With annual principal & interest118{)OO and taxes $2960, what will be the GDS (considering rounding)?

jlA) C 30.09%1 ('lei, 25.84%o 32.25%i '1. "

, ID) 27.69'%~----..---.--<--.J---~---~-'----, iII......--.-.,--.}.~...:.--.--. - "'~..-..~..-_ '..' - "'---..-~""" , ,' . . .. . . ~----!

1146 IJohn bought a land for $643,000. Closing of which is 29th Feb. What is the land transfer tax?i "-I ('"'lA)" $9335l~ $4860

.~ $8120! i.;3.""

!D) > None of the above

lXf required taxes amount to $1,820,000 and the tax base of a municipality is $75,000,000 what islthe tax rate necessary to raise these taxes?Ii t""

! '

1147:IMs:~

3.95%

2.43%,

1 11-4-S---rJessica needs $15,000 to renovate her basement. Lender A is giving her money@simple6%annual; ·~~linterest and lender B is giving her money @ compounded 5% annual interest rate. At the end of 5

[vea-s she w!ll be paying more interest to which lender and by how much?!i

je) 3.01%1 ("'\D) Can not be calculated

r·;lA) To B ,.~ .-.is) " A'I I

i ('~,IC) To B, $394.22

I c': . ID) Sameri-;~---- jcalc~-lc--t-e-t-h-,e--h-o-u-se--a-re-a~(-rO-U-n-d-i-ng--2-d-i-g-it-S-).~--·-----------------~-~--~--~----~

,,i.. ..__ ._. . 1... ..

"(

1150

·.·~fl~jf·3i'~;J1". - ..:·.\,...;l~>/-~<~::·:'-':;:. '

2107 Sq. ft.

1 r~__________JA)'· $485,455

i

iti!ii.i.II<ij1

iII,1I

iI! ~.1 ! ...tP~)1 r-IB\ >., I 195.74 Sq. mt.-: ;f<ol••

[c "'..,/_ 2147 Sq. ft.

! .-t.?) 201.31 Sq. mt.

; ouse is 40 ft X 80 ft wide lot. What will be he cost to make the driveway (rounded to nearest[dotlar) with 35 feet long, 20 feet wide and 6 inches thick, if the cost is $35 per cubic yard? I

l.',i.'~:.r.·. <454 J10 t iftt-r 35VD ;:;-100 'J- b" z Lt ~ 0U -r- ~ p-1!Is) .' can not be calculated, rate is in cubic yard ! ,....lc) .0 -/ 5' .5(~t.I·

$5,444

l C _~ ~ ----=,~3 :.:.IJ Lt < tj<..; 1D) $12,250 _.... 'I.,.....----..---r-~j 1151 IWhich of the statement is not true? !

la) Capitalization is the conversion of net income into capital value ,11

[b) Cost approach is one of the four methods used in the appraisal process, the other being income,

1·cepnauzanon and direct comparison :

.c) Local improvement taxes can significantly affect property taxes for specified period of time IId) For the purpose of adjustments, buyer IS responsible for the day of closing 1

! I.j _, I

1. s, c !

b

d,;----! r1 -',

i-'-.-,---- . ; D):::. :::::::::3====::::::::::::::================::::::::::::::::::====:::::::::==:::::::::=:::::::::::::)S-152 -, --jA6C & Co. plans to purchase a small commercia! plaza for it's retail sales of furniture, ABeT as a

itenant would pay market rent (as would other tenants), ABC anticipates a net operating income of1$53,400. What is the estimate of value (after rounding) based on an 10.75% cap rate?!

J

e .

...

1 r:i-----.----l~) 140,250 Mode &. 130,000 Average ~

'1157---1xyz & Co. is contemplating a commercial property with an effective gross income of $253,000 and!annual expenses of $231,500. In order to produce a value of $250,000 What should be the cap rate?

II

jA) t.. 6.8%! r-!B) 116.27%

ie) r. 1162.79%j C10) 8.6% i

lThereare three rooms.i) a rectangular room which is 21 feet long and 20 feet wide ii) a square room~;[which has one side measuring at 16 feet, iii) a trapezoid room which has parallel sides measuring 25lfeet and 38 feet and 14 feet verticle distance between them. Find the total square footage.iI ClA)1 (,IB' 1117 Sq. Ft.I J .••••••, ~ '"

IC) ,,'

i c~ ~ 1_5_5_8__ S_q_.~F_t_.~ ~ ~ ~ __ ~~~ ~ __'1l59 lA property valued at $725,000 with a CAP rate of 11% has an NOI of around.

iI.1 •••.1 -, ~ ,lA) $50,000

:1158

1326 Sq. Ft.

Can not be calcu!ated, other side of room ii is not given

j ( ••.•

iB); r,,'ic)!

i------J

IiI

IWhen inflation rises, the buying power of public also decreases

When Interest Rates go up, the Cost of Borrowing goes up

The monetary policies of Bank of Canada can affect real estate trade

All of the above

i.~--~-~~--~~~~~~~~~~~.~~~~~~~~~;~-=~;~~~~~