RERA UPDATED EXAM STUDY GUIDE QUESTIONS AND
SOLUTIONS RATED A+
✔✔what is Mollak? - ✔✔part of RERA for regsitratering HOA's and their management
✔✔benefits of the Mollak system? - ✔✔secure online payment of service cahrges
online access to important documents, minutes, meetings,
online voting
log and track maintenance requests
✔✔one sure fire way to real estate success - ✔✔prospecting
✔✔DNA of a qualified Prospect - ✔✔Desire-for the property
Need--need for the property
Ability & Authority--financially and authority to make decision
✔✔The Laws - ✔✔26-->2007-->Landlord & Tenant
Decree no 1-->2009 rental increase
✔✔rental increase law is.. - ✔✔decree no 1, 2009 of the law 26
cannot increase rental if previous rental is 25% or less than the market
if its 25% or more than the market than can only increase it...
✔✔what must a tenant have to sign a fixed term lease? - ✔✔Passport Copy
Visa Copy--resident visa
✔✔Code of Ethics is: - ✔✔1. Fair Treatment
2. Respectful Treatment
3. Preservation of Privacy
4. Trust & Integrity
5. Quality observation
6. Respect Laws
7. Integrity
8. Obligation towards society
9. Observing interests of contracting party
10. Obligation to preserve document
11. respect regulations of DLD
✔✔foundations of code of ethics are - ✔✔honesty
trust
integrity
transparency
respect
, ✔✔STR is - ✔✔formed of bylaw no 85, 2006, special transaction register maintain all
documents related to a transaction on file for a transparant transacting
✔✔exam page 133 - ✔✔page 133
✔✔types of registration at DLD - ✔✔property
long term lease
sale
residential lease
gifted lands
partial sale (auctions)
mortgage
HOA
✔✔transfer of property law is.... - ✔✔law 13 of 2008,
buyer pays 1% transfer fee
seller pays 1% transfer fee
no other transfer fees can be paid, only up to 5000 AED to developer at most
✔✔what is mandatory for all off plan properties? - ✔✔pre title registration (intereim
register)
✔✔the Laws - ✔✔85-->2006-->Real Property
14-->2008-->Property Land
8-->2007-->Property fixtures
14-Mortgages
✔✔document to describe the overall development project - ✔✔master development
plan
✔✔detailed plan by a sub developer of a master developer that articulates the overall
plan of his her project aimed at meeting the requirements and approval of master
developer - ✔✔Development Plan
✔✔detailed scaled drawing displaying measurements, configuration of property within
the building , including drainage, water, sewage, plumbing, fire safety compliance, etc. -
✔✔building plan
✔✔difference between site plan 1 and site plan 2 - ✔✔1- shows units and common
areas
2-shows improvements, roads, driveways, parking lots
✔✔difference between the ijarah and ejari systems - ✔✔ijarah is long term over 10
years
SOLUTIONS RATED A+
✔✔what is Mollak? - ✔✔part of RERA for regsitratering HOA's and their management
✔✔benefits of the Mollak system? - ✔✔secure online payment of service cahrges
online access to important documents, minutes, meetings,
online voting
log and track maintenance requests
✔✔one sure fire way to real estate success - ✔✔prospecting
✔✔DNA of a qualified Prospect - ✔✔Desire-for the property
Need--need for the property
Ability & Authority--financially and authority to make decision
✔✔The Laws - ✔✔26-->2007-->Landlord & Tenant
Decree no 1-->2009 rental increase
✔✔rental increase law is.. - ✔✔decree no 1, 2009 of the law 26
cannot increase rental if previous rental is 25% or less than the market
if its 25% or more than the market than can only increase it...
✔✔what must a tenant have to sign a fixed term lease? - ✔✔Passport Copy
Visa Copy--resident visa
✔✔Code of Ethics is: - ✔✔1. Fair Treatment
2. Respectful Treatment
3. Preservation of Privacy
4. Trust & Integrity
5. Quality observation
6. Respect Laws
7. Integrity
8. Obligation towards society
9. Observing interests of contracting party
10. Obligation to preserve document
11. respect regulations of DLD
✔✔foundations of code of ethics are - ✔✔honesty
trust
integrity
transparency
respect
, ✔✔STR is - ✔✔formed of bylaw no 85, 2006, special transaction register maintain all
documents related to a transaction on file for a transparant transacting
✔✔exam page 133 - ✔✔page 133
✔✔types of registration at DLD - ✔✔property
long term lease
sale
residential lease
gifted lands
partial sale (auctions)
mortgage
HOA
✔✔transfer of property law is.... - ✔✔law 13 of 2008,
buyer pays 1% transfer fee
seller pays 1% transfer fee
no other transfer fees can be paid, only up to 5000 AED to developer at most
✔✔what is mandatory for all off plan properties? - ✔✔pre title registration (intereim
register)
✔✔the Laws - ✔✔85-->2006-->Real Property
14-->2008-->Property Land
8-->2007-->Property fixtures
14-Mortgages
✔✔document to describe the overall development project - ✔✔master development
plan
✔✔detailed plan by a sub developer of a master developer that articulates the overall
plan of his her project aimed at meeting the requirements and approval of master
developer - ✔✔Development Plan
✔✔detailed scaled drawing displaying measurements, configuration of property within
the building , including drainage, water, sewage, plumbing, fire safety compliance, etc. -
✔✔building plan
✔✔difference between site plan 1 and site plan 2 - ✔✔1- shows units and common
areas
2-shows improvements, roads, driveways, parking lots
✔✔difference between the ijarah and ejari systems - ✔✔ijarah is long term over 10
years
