Rera Exam questions and answers 2023

Rera Exam questions and answers 2023 Highest Burj Khalifa 829,8 (2722 ft) Business Bay number of buldings 240 (completed 2008) 00:02 01:25 Palm Jumeirah 3 Palms 520 km by Nakheel Al Maktoum International Airport Projected anual capacity 160 Million passanger The World Island by Nakheel Dubai Land Department (DLD) The main objective of DLD is to organize and documents all real estate transaction for and behalf Dubai Goverment. established 24.01.1960 RERA Real Estate Regulatory Agency. Rera regulates the real estate investment in the emirate of Dubai. Launched 31 of July 2007. Objectives of RERA RERA Role is: - Licensing all real estate activities. - Managing and organizing real estate developers' trust accounts. - Licensing and organizing real estate agents. - Regulating and registering Rental Agreements. -Regulating and supervising the owners associations. Regulation #3 of 2006 In 2001 Dubai Goverment agreed to allow expats to have 99-year lease of particular property. In 2002 Sheikh Mohammed bin Rashid Al Maktoum, issued a decree allowing foreigners to buy property on freehold ownership. Freehold You own property and land Forever. Leasehold You own property but not land Tarakheesi Tarakheesi is web application meant for Real Estate Offices for managing Real Estate Broker operation. -Issuing broker card -Updating broker card Cancelling broker card. 00:00 01:25 Blue Broker Card Blue card issued under the DED licenses and brokers are allowed to work in Dubai. Allows brokers to sell/lease in Dubai + FZ + Sell for developers but not time share. Green Broker Card Can only sell developers project. Red Broker Card only time share properties; sell one unit to more than one person. Yellow Broker Card only FZ properties Return on investment (ROI) It measures the gain or loss generated on an investment relative to the amount of money invested. ROI is usually expressed as a percentage and is typically used for personal financial decisions, to compare a company's profitability or to compare the efficiency of different investments. ROI (Net profit/Cost of investment)x100 What's is a listing? A listing is a contract between an owner and broker. What is the different between type of listings? -Exclusive -Open listing What is multiple listing? MLS is an arrangement among a group of agents whereby they agree to share information and split commission. What is a qualified buyer? Seeking to buy. What is an assent? It is something of value that one owns. What is liability? It is opposite of asset ; It's a debt or obligation that one owns. What is the Law 26 of 2007 It regulates the relationship between the tenant and landlord. ORN Office Registration Number BRN Broker Registration Number STR Special Transaction Register All transaction Agreements If ad does't have BRN or ORN Number Penalty AED 50'000 Decree #21 of 2013 Only the government has the power to cancel projects. OQOOD Pre-Title Registration "My ownership certificate" MOLLAK My Strata Certificate Owner Association And Registration Code of Etics regulates your relationship with customers, with other agents and with public.