RERA EXAM (ANSWERS) QUESTIONS AND VE
P P P P P
RIFIED ANSWERS (GRADED A+) P P P
What is a disciplinary action? -
P P P P P
<<<Answers>>>• It is a punishment resulting from the RERA i P P P P P P P P P
nvestigating a complaint against a licensee. P P P P P
• Such an action could have serious consequences for the li
P P P P P P P P P
censee, such as points, revocation or suspension of the lice
P P P P P P P P P
nse and a fine.
P P P
The classification of penalties were divided into 3 levels -
P P P P P P P P P
<<<Answers>>>1.Red
2. Yellow
3. Green (Traffic Lights) P P
Role of Key Players: The Individual Owners -
P P P P P P P
<<<Answers>>>Register their Property The Individual P P P P
Owners Pay their Owners Association maintenance fees annual
P P P P P P P
ly (or as per OA majority rule)
P P P P P P
Vote on decisions and at elections for the Board annually (AGA
P P P P P P P P P P
) Respect the Constitution and rules of conduct & regulations
P P P P P P P P P
Ensure their visitors, tenants, guests also respect the rules
P P P P P P P P
,Role of Key Players: Role of the BOARD -
P P P P P P P P
<<<Answers>>>Calling for meetings, forwarding agendas, cir P P P P P
culating to members necessary documents.P P P P
Maintaining & ensuring safe keeping of accurate records P P P P P P P
Keeping minutes of all meetings Maintaining the General & Re
P P P P P P P P P
serve fund accounts, payment of accounts
P P P P P
Monitoring collection of the annual maintenance fees and servi
P P P P P P P P
ce charges from Owners AND
P P P P
Managing Service Contractors organizing, following up on the
P P P P P P P
ir works / honoring their job commitment,
P P P P P P
Enforcing the Rules for the peace and quiet enjoyment of all in t
P P P P P P P P P P P P
he communityP
Maintaining Budget control and preparation of Budgets P P P P P P
Organizing the Insurance for the Building To action 'motions' a
P P P P P P P P P
s voted and carried in the Owners Association Assembly meeti
P P P P P P P P P
ngs
The Key Players: Owners Association Manager -
P P P P P P
<<<Answers>>>Under the Guidance, direction and supervision P P P P P
of the BOARD, the Owners Association Manager provides... A
P P P P P P P P P
DMINISTRATIVE, SECRETRIAL SUPPORT FINANCIAL P P P P
MANAGEMENT SUPPORT, ASSISTS IN OBTAINING QU P P P P P
OTES AND MONITORING OTHER SERVICE CONTRACT
P P P P P
ORS OTHER POWERS AND RESPONSIBILITIES AS DESI
P P P P P P
GNATED BY THE BOARD. P P P
,The Key Players: Facilities Manager -
P P P P P
<<<Answers>>>Under the Guidance, direction and supervisio P P P P P
n of the BOARD.. (may be via the Association Manager) Provid
P P P P P P P P P P
e specialist trades expertise in sections such as lighting, electrica
P P P P P P P P P
l, air-
P
Pconditioning, district cooling, security access and/or systems, g P P P P P P P
eneral maintenance support, water, garbage and/or waste manag
P P P P P P P
ement , Servicing fire safety equipment installations and resourc
P P P P P P P P
es
MOLLAK - P
<<<Answers>>>MOLLAK means "Owners" in Arabic. MOL P P P P P
LAK is an innovative, electronic web-
P P P P P
based service developed by RERA for the purpose of registering
P P P P P P P P P
owners associations forming part of Jointly Owned Property. T
P P P P P P P P P
he new MOLLAK system reflects the provisions of Law No.
P P P P P P P P P
(27) of 2007 concerning Jointly Owned Property Declarations (J
P P P P P P P P
OPD) in the Emirate of Dubai and its regulations.
P P P P P P P P
law No. 85 of 2006 -
P P P P P
<<<Answers>>>Broker's Laws And Obligations P P P
Civil Law - P P
<<<Answers>>>Laws are written in a Civil Code. Judges mainl P P P P P P P P
y base decisions on the Civil Code.
P P P P P P
Common Law - P P
<<<Answers>>>In addition to written laws, judges may be bou P P P P P P P P
nd by the decisions of other judges in previous cases with simil
P P P P P P P P P P P
ar facts (precedent).
P P
, UAE's Legal System: - P P P
<<<Answers>>>• Mainly based on Civil Law P P P P P
• Shariah Law used in personal affairs for Muslims (divorce, i
P P P P P P P P P
nheritance, etc) P
• English Common Law is used in DIFC (own courts and RE re
P P P P P P P P P P P
gistry)
Transfer fee - P P
<<<Answers>>>Transfer fee = 4% of sales price 8% fee, if: P P P P P P P P P
- Off-plan property and Seller using POA (on resale)
P P P P P P P
- Completed property and Seller has 2 POA's (POA #1 assigns to
P P P P P P P P P P
POA #2)
P P
Law No. 7 of 2006 -
P P P P P
<<<Answers>>>Freehold Ownership of Properties P P P
• Gives Foreign Nationals (non-
P P P
GCC) the right to own property freehold in Designated
P P P P P P P P P
Areas.
• Regulates the registration of completed real properties and a
P P P P P P P P
lso sets out the authority, function and purpose of the DLD wit
P P P P P P P P P P P
h the introduction of a system of registration.
P P P P P P P
Regulation No.3 of 2006: - P P P P
<<<Answers>>>Designates areas where non- P P P
GCC nationals can purchase properties in Dubai.
P P P P P P
Free Zones & Offshore Companies -
P P P P P
<<<Answers>>>• Free Zone is a special economic zone P P P P P P P
P P P P P
RIFIED ANSWERS (GRADED A+) P P P
What is a disciplinary action? -
P P P P P
<<<Answers>>>• It is a punishment resulting from the RERA i P P P P P P P P P
nvestigating a complaint against a licensee. P P P P P
• Such an action could have serious consequences for the li
P P P P P P P P P
censee, such as points, revocation or suspension of the lice
P P P P P P P P P
nse and a fine.
P P P
The classification of penalties were divided into 3 levels -
P P P P P P P P P
<<<Answers>>>1.Red
2. Yellow
3. Green (Traffic Lights) P P
Role of Key Players: The Individual Owners -
P P P P P P P
<<<Answers>>>Register their Property The Individual P P P P
Owners Pay their Owners Association maintenance fees annual
P P P P P P P
ly (or as per OA majority rule)
P P P P P P
Vote on decisions and at elections for the Board annually (AGA
P P P P P P P P P P
) Respect the Constitution and rules of conduct & regulations
P P P P P P P P P
Ensure their visitors, tenants, guests also respect the rules
P P P P P P P P
,Role of Key Players: Role of the BOARD -
P P P P P P P P
<<<Answers>>>Calling for meetings, forwarding agendas, cir P P P P P
culating to members necessary documents.P P P P
Maintaining & ensuring safe keeping of accurate records P P P P P P P
Keeping minutes of all meetings Maintaining the General & Re
P P P P P P P P P
serve fund accounts, payment of accounts
P P P P P
Monitoring collection of the annual maintenance fees and servi
P P P P P P P P
ce charges from Owners AND
P P P P
Managing Service Contractors organizing, following up on the
P P P P P P P
ir works / honoring their job commitment,
P P P P P P
Enforcing the Rules for the peace and quiet enjoyment of all in t
P P P P P P P P P P P P
he communityP
Maintaining Budget control and preparation of Budgets P P P P P P
Organizing the Insurance for the Building To action 'motions' a
P P P P P P P P P
s voted and carried in the Owners Association Assembly meeti
P P P P P P P P P
ngs
The Key Players: Owners Association Manager -
P P P P P P
<<<Answers>>>Under the Guidance, direction and supervision P P P P P
of the BOARD, the Owners Association Manager provides... A
P P P P P P P P P
DMINISTRATIVE, SECRETRIAL SUPPORT FINANCIAL P P P P
MANAGEMENT SUPPORT, ASSISTS IN OBTAINING QU P P P P P
OTES AND MONITORING OTHER SERVICE CONTRACT
P P P P P
ORS OTHER POWERS AND RESPONSIBILITIES AS DESI
P P P P P P
GNATED BY THE BOARD. P P P
,The Key Players: Facilities Manager -
P P P P P
<<<Answers>>>Under the Guidance, direction and supervisio P P P P P
n of the BOARD.. (may be via the Association Manager) Provid
P P P P P P P P P P
e specialist trades expertise in sections such as lighting, electrica
P P P P P P P P P
l, air-
P
Pconditioning, district cooling, security access and/or systems, g P P P P P P P
eneral maintenance support, water, garbage and/or waste manag
P P P P P P P
ement , Servicing fire safety equipment installations and resourc
P P P P P P P P
es
MOLLAK - P
<<<Answers>>>MOLLAK means "Owners" in Arabic. MOL P P P P P
LAK is an innovative, electronic web-
P P P P P
based service developed by RERA for the purpose of registering
P P P P P P P P P
owners associations forming part of Jointly Owned Property. T
P P P P P P P P P
he new MOLLAK system reflects the provisions of Law No.
P P P P P P P P P
(27) of 2007 concerning Jointly Owned Property Declarations (J
P P P P P P P P
OPD) in the Emirate of Dubai and its regulations.
P P P P P P P P
law No. 85 of 2006 -
P P P P P
<<<Answers>>>Broker's Laws And Obligations P P P
Civil Law - P P
<<<Answers>>>Laws are written in a Civil Code. Judges mainl P P P P P P P P
y base decisions on the Civil Code.
P P P P P P
Common Law - P P
<<<Answers>>>In addition to written laws, judges may be bou P P P P P P P P
nd by the decisions of other judges in previous cases with simil
P P P P P P P P P P P
ar facts (precedent).
P P
, UAE's Legal System: - P P P
<<<Answers>>>• Mainly based on Civil Law P P P P P
• Shariah Law used in personal affairs for Muslims (divorce, i
P P P P P P P P P
nheritance, etc) P
• English Common Law is used in DIFC (own courts and RE re
P P P P P P P P P P P
gistry)
Transfer fee - P P
<<<Answers>>>Transfer fee = 4% of sales price 8% fee, if: P P P P P P P P P
- Off-plan property and Seller using POA (on resale)
P P P P P P P
- Completed property and Seller has 2 POA's (POA #1 assigns to
P P P P P P P P P P
POA #2)
P P
Law No. 7 of 2006 -
P P P P P
<<<Answers>>>Freehold Ownership of Properties P P P
• Gives Foreign Nationals (non-
P P P
GCC) the right to own property freehold in Designated
P P P P P P P P P
Areas.
• Regulates the registration of completed real properties and a
P P P P P P P P
lso sets out the authority, function and purpose of the DLD wit
P P P P P P P P P P P
h the introduction of a system of registration.
P P P P P P P
Regulation No.3 of 2006: - P P P P
<<<Answers>>>Designates areas where non- P P P
GCC nationals can purchase properties in Dubai.
P P P P P P
Free Zones & Offshore Companies -
P P P P P
<<<Answers>>>• Free Zone is a special economic zone P P P P P P P
