California Real Estate Exam Prep UBC
Questions and Answers 2024.
Common Law - Correct Answer-1. originated from england
2. Doctrine of stare decisis
3. Uniformity
3. Precedent
Equitable Law - Correct Answer-originally from england, non money remedy, to avoid
unjust enrichment by only uses of common law, includes injunctions (court orders not to
do something)
Statue Law - Correct Answer-A law or act passed by government
-created through legislation ( ex/ land title act)
- Made to alter/change common law
rank the sources of law from strongest to least strongest in power authority? - Correct
Answer-1. statue law
2. Equitable law
3. common law
what are the remedies regarding common law? - Correct Answer-Damages
what are the remedies regarding Equitable law? - Correct Answer-1. Specific
performance (can force you to carry out services)
2. Injuntion (restraining order)
3. Quantum Meruit ( Much as you deserve)
what are the areas/laws does the federal , Provincial and Municipal goverment control -
Correct Answer-Federal - harbours/airports/fisheries/criminal matters/ national defense
Provincial- Property+civil rights, municipal, institutions, education
,Municipal - pass by laws
Whats is the difference between Civil/tort/private laws and Public law? - Correct Answer-
Civil/tort/private - deals with problem between individuals (breach of contract, divorce,
agency or contract law)
Public - Problems between state and individuals (tax/constitutional/ criminal law )
SSBS Hiearchy - Correct Answer-
small claims - Correct Answer--claims of 35000 or less
- where defendent lives or where claim occured
supreme court of BC - Correct Answer--No territorial limitations present
- judge can order new trial
BC court of appeal - Correct Answer-do not rehear evidence but review the legal
principles
Supreme Court of Canada - Correct Answer-the highest appeals court in Canada; also
deals with constitutional questions referred to it by the federal government
- Not required to hear all appeals
- no evidence is reheard
Describe the steps of the trial process ? - Correct Answer-1. Pleading
- civil claim presented by plaintiff
- response of civil claim by defendant (statement of denying )
2. Discovery (No judge)
- mini trial present facts before trial to often reach a settlement
- allows observation of the strength and weaknesses of the claims presented
3. Trial
,- Plaintiff must prove the case
4. Judgement
court issues a dicision to resolve the issues
What are the 4 options of enforcing judgment ? - Correct Answer-1. examination of the
judgement debtor
- creditor wins
-debtors assets analyzed (cars,house)
2. Writ of execution
assets can be siezed and sold to statify the claim of sheriff
3. remidies against the land
-lien
4. Garnishing wages
- 30% only
organization hierarchy in Brokerage - Correct Answer-1. Brokerage- office/specific
location
2. Managing broker - of office
3. Associate broker - assistant manager
4. representative
the real estate foundation is responsible for ? - Correct Answer-1. real estate Law reform
2. 5 members (minister of finance + 4 members)
3. Education + research
4. Receives all interest payable on all brokerage accounts
-Protects the public
, The real estate council is responsible for ? - Correct Answer-1. Enforcing the ACT(
2. Maintaining and advancing the knowledge of its licensees
3. 16 members (9 brokers + lay members + realtors)
4. Establishing educational requirements
5. issuing and renewing licence
5. holding disciplinary hearings
6. suspend/repremend/ cancel license
7.Inspect and copy records
8. investigate before and after you received license
9. May apply to the court in order to seize records
-No law reform
-Statutory
Real estate errors and omissions corp. - Correct Answer-1. Levy different acessments on
Licenses
2. failure to pay immediate suspension of the license
3. Up to 1 million coverage per licensee / $2000 deductible (Brokerage also pays)
- Imposes licensing requirements
real estate compensation corp - Correct Answer-if the person suffered loss the council will
refer to a refund
-establishes RE council
British columbia real estate association (BCREA) is responsible for ? - Correct Answer-1.
Public relations
2. government consultation
3. ongoing education
-11 real estate boards : runs MLS + enforces code of ethics
Questions and Answers 2024.
Common Law - Correct Answer-1. originated from england
2. Doctrine of stare decisis
3. Uniformity
3. Precedent
Equitable Law - Correct Answer-originally from england, non money remedy, to avoid
unjust enrichment by only uses of common law, includes injunctions (court orders not to
do something)
Statue Law - Correct Answer-A law or act passed by government
-created through legislation ( ex/ land title act)
- Made to alter/change common law
rank the sources of law from strongest to least strongest in power authority? - Correct
Answer-1. statue law
2. Equitable law
3. common law
what are the remedies regarding common law? - Correct Answer-Damages
what are the remedies regarding Equitable law? - Correct Answer-1. Specific
performance (can force you to carry out services)
2. Injuntion (restraining order)
3. Quantum Meruit ( Much as you deserve)
what are the areas/laws does the federal , Provincial and Municipal goverment control -
Correct Answer-Federal - harbours/airports/fisheries/criminal matters/ national defense
Provincial- Property+civil rights, municipal, institutions, education
,Municipal - pass by laws
Whats is the difference between Civil/tort/private laws and Public law? - Correct Answer-
Civil/tort/private - deals with problem between individuals (breach of contract, divorce,
agency or contract law)
Public - Problems between state and individuals (tax/constitutional/ criminal law )
SSBS Hiearchy - Correct Answer-
small claims - Correct Answer--claims of 35000 or less
- where defendent lives or where claim occured
supreme court of BC - Correct Answer--No territorial limitations present
- judge can order new trial
BC court of appeal - Correct Answer-do not rehear evidence but review the legal
principles
Supreme Court of Canada - Correct Answer-the highest appeals court in Canada; also
deals with constitutional questions referred to it by the federal government
- Not required to hear all appeals
- no evidence is reheard
Describe the steps of the trial process ? - Correct Answer-1. Pleading
- civil claim presented by plaintiff
- response of civil claim by defendant (statement of denying )
2. Discovery (No judge)
- mini trial present facts before trial to often reach a settlement
- allows observation of the strength and weaknesses of the claims presented
3. Trial
,- Plaintiff must prove the case
4. Judgement
court issues a dicision to resolve the issues
What are the 4 options of enforcing judgment ? - Correct Answer-1. examination of the
judgement debtor
- creditor wins
-debtors assets analyzed (cars,house)
2. Writ of execution
assets can be siezed and sold to statify the claim of sheriff
3. remidies against the land
-lien
4. Garnishing wages
- 30% only
organization hierarchy in Brokerage - Correct Answer-1. Brokerage- office/specific
location
2. Managing broker - of office
3. Associate broker - assistant manager
4. representative
the real estate foundation is responsible for ? - Correct Answer-1. real estate Law reform
2. 5 members (minister of finance + 4 members)
3. Education + research
4. Receives all interest payable on all brokerage accounts
-Protects the public
, The real estate council is responsible for ? - Correct Answer-1. Enforcing the ACT(
2. Maintaining and advancing the knowledge of its licensees
3. 16 members (9 brokers + lay members + realtors)
4. Establishing educational requirements
5. issuing and renewing licence
5. holding disciplinary hearings
6. suspend/repremend/ cancel license
7.Inspect and copy records
8. investigate before and after you received license
9. May apply to the court in order to seize records
-No law reform
-Statutory
Real estate errors and omissions corp. - Correct Answer-1. Levy different acessments on
Licenses
2. failure to pay immediate suspension of the license
3. Up to 1 million coverage per licensee / $2000 deductible (Brokerage also pays)
- Imposes licensing requirements
real estate compensation corp - Correct Answer-if the person suffered loss the council will
refer to a refund
-establishes RE council
British columbia real estate association (BCREA) is responsible for ? - Correct Answer-1.
Public relations
2. government consultation
3. ongoing education
-11 real estate boards : runs MLS + enforces code of ethics
