OACIQ EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
Successions with a Will - Who signs?
No liquidator = all legatees
W/ a liquidator = full admin liquidator or simple admin liquidator with
authorization from legatees and legal heirs.
Successions w/o a Will - Who signs?
No liquidator = All legal heirs
W/ a liquidator = liquidator authorized by legal heirs
Successions - What documents do you need?
During liquidation of the succession?
-Declaration of transmission (w/ or w/o a Will)
-If no Will and there's a liquidator, an Act of Nomination authorizing
liquidator by all legal heirs.
After liquidation of the succession?
-The Delivery of legacy, similar to a Deed of Sale (lists the
legatees/legal heirs that inherited property)
Successions - What to think about?
Declaration of Transmission
Notarized Will, holograph Will (written)?
END OF
PAGE
1
, OACIQ EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
Liquidator - Full or simple administration
Delivery of legacy - if property already transferred into legatees/legal
heirs names (post liquidation of an estate)
Act of nomination - legal heirs authorize who as liquidator?
*If seller dies during brokerage contract, you would complete an AM
form, place immovable off market temporarily until a liquidator is
assigned/authorized to sell immovable. Must verify if Will exists or not,
ask family to seek a notary, get declaration of transmission. Who are the
heirs? Legatees?
Use another AM form to put immovable back on the market. Make sure
to use IV form to identify liquidator, obtain his address and information.
Company sells immovable? Who signs?
-the name of the seller is the name of the company
-the name of the representative is the person authorized to sell and is
listed in the Resolution of the Company.
BCS and DS - Which should you complete first?
Always complete the DS first!
You then Annex the DS to BCS.
Importance of a Declaration of the Seller?
END OF
PAGE
2
, OACIQ EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
-Mandatory form
-Seller must declare everything he knows about the property or he could
become responsible/liable for damages/defects found.
-Protects seller from hidden defect accusations
-Protects buyer in buying process and pricing decisions
-Protects broker by disclosing all proper information, due diligence,
must verify everything!
-
DS - Clause D 2.6. - What to include in D14 section?
Immovable affected by:
-hypothecs : include bank info and hypothec registry #
-servitudes: include registry # and description
-other real rights: right of way, cultural property, etc.
*Servitudes only count if published and have a #.
-verify deed of sale, deed of loan, certificate of location
Declarations in D.14 must be explained and all related documents
attached.
How do you confirm the ownership of a Seller?
You need to verify the Deed of Sale, which should be a notarized copy
that the Seller provides you.
END OF
PAGE
3
, OACIQ EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
Advise client to get one if he doesn't have one.
Where can you find information about the Owner?
1. Deed of Sale
2. Land Register:
-Index of Immovables (need cadastral #)
-Municipal tax bills
Two types of contracts
Contract for Services: brokerage contracts
Consumer Contract: contracts if seller is a natural person selling on
behalf of a company.
If a seller is represented, what 4 options are there?
1. Natural person (co-owner)
2. Mandatary - Need power of attorney/mandate
3. Succession - Declaration of transmission, liquidator, legatees or legal
heirs
4. Corporation/Company - Resolution of the Company
Terms to use in brokerage contracts and clauses?
Agency
Broker
Seller
Buyer
END OF
PAGE
4
QUESTIONS AND
ANSWERS 2026 - 2027
Successions with a Will - Who signs?
No liquidator = all legatees
W/ a liquidator = full admin liquidator or simple admin liquidator with
authorization from legatees and legal heirs.
Successions w/o a Will - Who signs?
No liquidator = All legal heirs
W/ a liquidator = liquidator authorized by legal heirs
Successions - What documents do you need?
During liquidation of the succession?
-Declaration of transmission (w/ or w/o a Will)
-If no Will and there's a liquidator, an Act of Nomination authorizing
liquidator by all legal heirs.
After liquidation of the succession?
-The Delivery of legacy, similar to a Deed of Sale (lists the
legatees/legal heirs that inherited property)
Successions - What to think about?
Declaration of Transmission
Notarized Will, holograph Will (written)?
END OF
PAGE
1
, OACIQ EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
Liquidator - Full or simple administration
Delivery of legacy - if property already transferred into legatees/legal
heirs names (post liquidation of an estate)
Act of nomination - legal heirs authorize who as liquidator?
*If seller dies during brokerage contract, you would complete an AM
form, place immovable off market temporarily until a liquidator is
assigned/authorized to sell immovable. Must verify if Will exists or not,
ask family to seek a notary, get declaration of transmission. Who are the
heirs? Legatees?
Use another AM form to put immovable back on the market. Make sure
to use IV form to identify liquidator, obtain his address and information.
Company sells immovable? Who signs?
-the name of the seller is the name of the company
-the name of the representative is the person authorized to sell and is
listed in the Resolution of the Company.
BCS and DS - Which should you complete first?
Always complete the DS first!
You then Annex the DS to BCS.
Importance of a Declaration of the Seller?
END OF
PAGE
2
, OACIQ EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
-Mandatory form
-Seller must declare everything he knows about the property or he could
become responsible/liable for damages/defects found.
-Protects seller from hidden defect accusations
-Protects buyer in buying process and pricing decisions
-Protects broker by disclosing all proper information, due diligence,
must verify everything!
-
DS - Clause D 2.6. - What to include in D14 section?
Immovable affected by:
-hypothecs : include bank info and hypothec registry #
-servitudes: include registry # and description
-other real rights: right of way, cultural property, etc.
*Servitudes only count if published and have a #.
-verify deed of sale, deed of loan, certificate of location
Declarations in D.14 must be explained and all related documents
attached.
How do you confirm the ownership of a Seller?
You need to verify the Deed of Sale, which should be a notarized copy
that the Seller provides you.
END OF
PAGE
3
, OACIQ EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
Advise client to get one if he doesn't have one.
Where can you find information about the Owner?
1. Deed of Sale
2. Land Register:
-Index of Immovables (need cadastral #)
-Municipal tax bills
Two types of contracts
Contract for Services: brokerage contracts
Consumer Contract: contracts if seller is a natural person selling on
behalf of a company.
If a seller is represented, what 4 options are there?
1. Natural person (co-owner)
2. Mandatary - Need power of attorney/mandate
3. Succession - Declaration of transmission, liquidator, legatees or legal
heirs
4. Corporation/Company - Resolution of the Company
Terms to use in brokerage contracts and clauses?
Agency
Broker
Seller
Buyer
END OF
PAGE
4
