RERA EXAM (ANSWERS) QUESTIONS AND
VERIFIED ANSWERS (GRADED A+)
What is a disciplinary action? -<<<Answers>>>• It is a
punishment resulting from the RERA investigating a
complaint against a licensee.
• Such an action could have serious consequences for the
licensee, such as points, revocation or suspension of the
license and a fine.
The classification of penalties were divided into 3 levels -
<<<Answers>>>1.Red
2. Yellow
3. Green (Traffic Lights)
Role of Key Players: The Individual Owners -
<<<Answers>>>Register their Property The Individual
Owners Pay their Owners Association maintenance fees
annually (or as per OA majority rule)
Vote on decisions and at elections for the Board annually
(AGA) Respect the Constitution and rules of conduct &
regulations
Ensure their visitors, tenants, guests also respect the rules
,Role of Key Players: Role of the BOARD -
<<<Answers>>>Calling for meetings, forwarding agendas,
circulating to members necessary documents.
Maintaining & ensuring safe keeping of accurate records
Keeping minutes of all meetings Maintaining the General &
Reserve fund accounts, payment of accounts
Monitoring collection of the annual maintenance fees and
service charges from Owners AND
Managing Service Contractors organizing, following up on
their works / honoring their job commitment,
Enforcing the Rules for the peace and quiet enjoyment of all
in the community
Maintaining Budget control and preparation of Budgets
Organizing the Insurance for the Building To action 'motions'
as voted and carried in the Owners Association Assembly
meetings
The Key Players: Owners Association Manager -
<<<Answers>>>Under the Guidance, direction and
supervision of the BOARD, the Owners Association Manager
provides... ADMINISTRATIVE, SECRETRIAL SUPPORT
FINANCIAL MANAGEMENT SUPPORT, ASSISTS IN
OBTAINING QUOTES AND MONITORING OTHER
SERVICE CONTRACTORS OTHER POWERS AND
RESPONSIBILITIES AS DESIGNATED BY THE BOARD.
,The Key Players: Facilities Manager -<<<Answers>>>Under
the Guidance, direction and supervision of the BOARD.. (may
be via the Association Manager) Provide specialist trades
expertise in sections such as lighting, electrical, air-
conditioning, district cooling, security access and/or systems,
general maintenance support, water, garbage and/or waste
management , Servicing fire safety equipment installations
and resources
MOLLAK -<<<Answers>>>MOLLAK means "Owners" in
Arabic. MOLLAK is an innovative, electronic web-based
service developed by RERA for the purpose of registering
owners associations forming part of Jointly Owned Property.
The new MOLLAK system reflects the provisions of Law No.
(27) of 2007 concerning Jointly Owned Property Declarations
(JOPD) in the Emirate of Dubai and its regulations.
law No. 85 of 2006 -<<<Answers>>>Broker's Laws And
Obligations
Civil Law -<<<Answers>>>Laws are written in a Civil Code.
Judges mainly base decisions on the Civil Code.
Common Law -<<<Answers>>>In addition to written laws,
judges may be bound by the decisions of other judges in
previous cases with similar facts (precedent).
, UAE's Legal System: -<<<Answers>>>• Mainly based on
Civil Law
• Shariah Law used in personal affairs for Muslims (divorce,
inheritance, etc)
• English Common Law is used in DIFC (own courts and RE
registry)
Transfer fee -<<<Answers>>>Transfer fee = 4% of sales
price 8% fee, if:
- Off-plan property and Seller using POA (on resale)
- Completed property and Seller has 2 POA's (POA #1 assigns
to POA #2)
Law No. 7 of 2006 -<<<Answers>>>Freehold Ownership of
Properties
• Gives Foreign Nationals (non-GCC) the right to own
property freehold in Designated Areas.
• Regulates the registration of completed real properties and
also sets out the authority, function and purpose of the DLD
with the introduction of a system of registration.
Regulation No.3 of 2006: -<<<Answers>>>Designates areas
where non-GCC nationals can purchase properties in Dubai.
Free Zones & Offshore Companies -<<<Answers>>>• Free
Zone is a special economic zone
VERIFIED ANSWERS (GRADED A+)
What is a disciplinary action? -<<<Answers>>>• It is a
punishment resulting from the RERA investigating a
complaint against a licensee.
• Such an action could have serious consequences for the
licensee, such as points, revocation or suspension of the
license and a fine.
The classification of penalties were divided into 3 levels -
<<<Answers>>>1.Red
2. Yellow
3. Green (Traffic Lights)
Role of Key Players: The Individual Owners -
<<<Answers>>>Register their Property The Individual
Owners Pay their Owners Association maintenance fees
annually (or as per OA majority rule)
Vote on decisions and at elections for the Board annually
(AGA) Respect the Constitution and rules of conduct &
regulations
Ensure their visitors, tenants, guests also respect the rules
,Role of Key Players: Role of the BOARD -
<<<Answers>>>Calling for meetings, forwarding agendas,
circulating to members necessary documents.
Maintaining & ensuring safe keeping of accurate records
Keeping minutes of all meetings Maintaining the General &
Reserve fund accounts, payment of accounts
Monitoring collection of the annual maintenance fees and
service charges from Owners AND
Managing Service Contractors organizing, following up on
their works / honoring their job commitment,
Enforcing the Rules for the peace and quiet enjoyment of all
in the community
Maintaining Budget control and preparation of Budgets
Organizing the Insurance for the Building To action 'motions'
as voted and carried in the Owners Association Assembly
meetings
The Key Players: Owners Association Manager -
<<<Answers>>>Under the Guidance, direction and
supervision of the BOARD, the Owners Association Manager
provides... ADMINISTRATIVE, SECRETRIAL SUPPORT
FINANCIAL MANAGEMENT SUPPORT, ASSISTS IN
OBTAINING QUOTES AND MONITORING OTHER
SERVICE CONTRACTORS OTHER POWERS AND
RESPONSIBILITIES AS DESIGNATED BY THE BOARD.
,The Key Players: Facilities Manager -<<<Answers>>>Under
the Guidance, direction and supervision of the BOARD.. (may
be via the Association Manager) Provide specialist trades
expertise in sections such as lighting, electrical, air-
conditioning, district cooling, security access and/or systems,
general maintenance support, water, garbage and/or waste
management , Servicing fire safety equipment installations
and resources
MOLLAK -<<<Answers>>>MOLLAK means "Owners" in
Arabic. MOLLAK is an innovative, electronic web-based
service developed by RERA for the purpose of registering
owners associations forming part of Jointly Owned Property.
The new MOLLAK system reflects the provisions of Law No.
(27) of 2007 concerning Jointly Owned Property Declarations
(JOPD) in the Emirate of Dubai and its regulations.
law No. 85 of 2006 -<<<Answers>>>Broker's Laws And
Obligations
Civil Law -<<<Answers>>>Laws are written in a Civil Code.
Judges mainly base decisions on the Civil Code.
Common Law -<<<Answers>>>In addition to written laws,
judges may be bound by the decisions of other judges in
previous cases with similar facts (precedent).
, UAE's Legal System: -<<<Answers>>>• Mainly based on
Civil Law
• Shariah Law used in personal affairs for Muslims (divorce,
inheritance, etc)
• English Common Law is used in DIFC (own courts and RE
registry)
Transfer fee -<<<Answers>>>Transfer fee = 4% of sales
price 8% fee, if:
- Off-plan property and Seller using POA (on resale)
- Completed property and Seller has 2 POA's (POA #1 assigns
to POA #2)
Law No. 7 of 2006 -<<<Answers>>>Freehold Ownership of
Properties
• Gives Foreign Nationals (non-GCC) the right to own
property freehold in Designated Areas.
• Regulates the registration of completed real properties and
also sets out the authority, function and purpose of the DLD
with the introduction of a system of registration.
Regulation No.3 of 2006: -<<<Answers>>>Designates areas
where non-GCC nationals can purchase properties in Dubai.
Free Zones & Offshore Companies -<<<Answers>>>• Free
Zone is a special economic zone
