NBREA REAL ESTATE EXAM 173
QUESTIONS WITH 100% CORRECT
ANSWERS GRADED A+
Term
Indefeasibility of title
1)Responsibility 2)Expense 3)Action Requirement for registration
, 1.Idemnify
to maintain and encourage 2.Renumerate
competition 1)Do not collude 2)Do 3. Obligations in the
not discriminate 3)Do not mislead agreement
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2 of 173
Term
What are 5 land characteristics?
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1)immobility
1)Innocent 2)Negligent -Not on
2)Durability
purpose
3)Uniqueness
3)Fraudulent 4)Failure to Disclose -
4)Scarcity
On purpose
5)Ridgidity
1) Forced Air 2)convective 1) Basement 2)Crawlspace 3)Slab
3)Radiant[--= 4)Damproofing
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, 3 of 173
Term
What are 11 superstructure terms?
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1. Working with a REALTOR form
2. Dual agency agreement
Present to Buyer
3. The offer is written
4. Dual agency agreement
Present to Seller
5. The offer is presented
1) Informed Buyer & Seller
2) Rational or Prudent behaviour
3) No undue pressure
4) Resonable time to find a buyer
1) Electrical baseboard
2) Central gasfired forced hot air
3) Central gasfired forced hotwater to baseboards
4)Woodfired space heater
1) Joist 2)Stud 3)Beam 4)Column 5)Header 6)Lintel (Exterior) 7)Truss
8)Rafter 9)Ceiling joist 10)Sheating 11)Plate
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4 of 173
, Term
When should a 10K cash deposit be reported to FINTRAC?
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Immediately upon receiving the Within 15 days of Cash being
cash deposit. offered.
Only if the deposit exceeds $20k. At the end of The fiscal year.
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5 of 173
Term
What is a party wall agreement?
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When they receive a complaint 1)in written form 2)when there is a resolution by
the board 3)a request by the minister
1. Typed/Written supercedes printed(by computer)on form
2. Conditions vs Warranties/Reps/Terms
3. Condition clauses-Condition vs condition precedent
4. Terms of the contract-Posession date, fixtures/chattels
5. Alternative wording-Be careful and specific
6.Capitalized words-Not required format
QUESTIONS WITH 100% CORRECT
ANSWERS GRADED A+
Term
Indefeasibility of title
1)Responsibility 2)Expense 3)Action Requirement for registration
, 1.Idemnify
to maintain and encourage 2.Renumerate
competition 1)Do not collude 2)Do 3. Obligations in the
not discriminate 3)Do not mislead agreement
Don't know?
2 of 173
Term
What are 5 land characteristics?
Give this one a try later!
1)immobility
1)Innocent 2)Negligent -Not on
2)Durability
purpose
3)Uniqueness
3)Fraudulent 4)Failure to Disclose -
4)Scarcity
On purpose
5)Ridgidity
1) Forced Air 2)convective 1) Basement 2)Crawlspace 3)Slab
3)Radiant[--= 4)Damproofing
Don't know?
, 3 of 173
Term
What are 11 superstructure terms?
Give this one a try later!
1. Working with a REALTOR form
2. Dual agency agreement
Present to Buyer
3. The offer is written
4. Dual agency agreement
Present to Seller
5. The offer is presented
1) Informed Buyer & Seller
2) Rational or Prudent behaviour
3) No undue pressure
4) Resonable time to find a buyer
1) Electrical baseboard
2) Central gasfired forced hot air
3) Central gasfired forced hotwater to baseboards
4)Woodfired space heater
1) Joist 2)Stud 3)Beam 4)Column 5)Header 6)Lintel (Exterior) 7)Truss
8)Rafter 9)Ceiling joist 10)Sheating 11)Plate
Don't know?
4 of 173
, Term
When should a 10K cash deposit be reported to FINTRAC?
Give this one a try later!
Immediately upon receiving the Within 15 days of Cash being
cash deposit. offered.
Only if the deposit exceeds $20k. At the end of The fiscal year.
Don't know?
5 of 173
Term
What is a party wall agreement?
Give this one a try later!
When they receive a complaint 1)in written form 2)when there is a resolution by
the board 3)a request by the minister
1. Typed/Written supercedes printed(by computer)on form
2. Conditions vs Warranties/Reps/Terms
3. Condition clauses-Condition vs condition precedent
4. Terms of the contract-Posession date, fixtures/chattels
5. Alternative wording-Be careful and specific
6.Capitalized words-Not required format
