Rera Exam Questions With Verified Answers

RERA EXAM QUESTIONS WITH VERIFIED ANSWERS.


RERA -- Answer ✔✔ Real Estate Regulatory Agency. Rera regulates the real estate
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l, investment in the emirate of Dubai. Launched 31 of July 2007. l, l, l, l, l, l, l, l, l, l,




Objectives of RERA -- Answer ✔✔ RERA Role is: l, l, l, l, l, l, l, l, l,




- Licensing all real estate activities.
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- Managing and organizing real estate developers' trust accounts.
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- Licensing and organizing real estate agents.
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- Regulating and registering Rental Agreements.
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-Regulating and supervising the owners associations. l, l, l, l, l,




Regulation #3 of 2006 -- Answer ✔✔ In 2001 Dubai Government agreed to allow expats to
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l, have 99-year lease of particular property. In 2002 Sheikh Mohammed bin Rashid Al
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l, Maktoum, issued a decree allowing foreigners to buy property on freehold ownership.
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Freehold -- Answer ✔✔ You own property and land Forever.
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Leasehold -- Answer ✔✔ You own property but not land
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Tarakheesi -- Answer ✔✔ Tarakheesi is web application meant for Real Estate Offices for
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l, managing Real Estate Broker operation.
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-Issuing broker card l, l, l,




-Updating broker card l, l, l,




Cancelling broker card. l, l,




Blue Broker Card -- Answer ✔✔ Blue card issued under the DED licenses and brokers are
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l, allowed to work in Dubai.l, l, l, l, l,




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,Allows brokers to sell/lease in Dubai + FZ + Sell for developers but not time share.
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Green Broker Card -- Answer ✔✔ Can only sell developers project.
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Red Broker Card -- Answer ✔✔ only time share properties; sell one unit to more than one
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l, person.


Yellow Broker Card -- Answer ✔✔ only FZ properties
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Return on investment (ROI) -- Answer ✔✔ It measures the gain or loss generated on an
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l, investment relative to the amount of money invested. l, l, l, l, l, l, l, l,




ROI is usually expressed as a percentage and is typically used for personal financial decisions,
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l, to compare a company's profitability or to compare the efficiency of different investments.
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ROI (Net profit/Cost of investment)x100
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What's is a listing? -- Answer ✔✔ A listing is a contract between an owner and broker.
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What is the different between type of listings? -- Answer ✔✔ -Exclusive
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-Open listing l,




What is multiple listing? -- Answer ✔✔ MLS is an arrangement among a group of agents
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l, whereby they agree to share information and split commission.
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What is a qualified buyer? -- Answer ✔✔ Seeking to buy.
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What is an assent? -- Answer ✔✔ It is something of value that one owns.
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What is liability? -- Answer ✔✔ It is opposite of asset ; It's a debt or obligation that one
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l, owns.




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, What is the Law 26 of 2007 -- Answer ✔✔ It regulates the relationship between the tenant
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l, and landlord. l,




ORN -- Answer ✔✔ Office Registration Number
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BRN -- Answer ✔✔ Broker Registration Number
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STR -- Answer ✔✔ Special Transaction Register
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All transaction Agreements
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If ad doesn’t have BRN or ORN Number -- Answer ✔✔ Penalty AED 50'000
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Decree #21 of 2013 -- Answer ✔✔ Only the government has the power to cancel projects.
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OQOOD -- Answer ✔✔ Pre-Title Registration "My ownership certificate" l, l, l, l, l, l, l, l,




MOLLAK -- Answer ✔✔ My Strata Certificate l, l, l, l, l, l,




Owner Association And Registration l, l, l,




Code of Ethics -- Answer ✔✔ regulates your relationship with customers, with other
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l, agents and with public. l, l, l,




Dubai Land Department (DLD) -- Answer ✔✔ Established on January 24th 1960
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Real Estate Regulatory Agency (RERA) -- Answer ✔✔ Established in 2007
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RERA Role is: -- Answer ✔✔ Licensing all real estate activities.
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• Managing real estate developers' trust accounts.
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• Licensing and organizing real estate agents.
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