OACIQ PREP Exam ACTUAL EXAM WITH REAL
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) LATEST |GUARANTEED A+
1 ) Your client is in a conflict with the building Inspector , your
client wants advice on how to file a complaint . - CORRECT
ANSWER -Inspector is not a licensed broker , therefore FICI and
FARCIQ cannot help
2 ) You receive a call from one of your clients who recently
purchased an Immovable with you , a week after moving in , the
heat pump stopped working and calls you to complain . As a
broker , how do you act responsibly ? - CORRECT ANSWER -
Call FARQIC and notify the director of your agency
3 ) You receive a call from a potential client who wants to know
the net area of a condo before making an offer on the property .
Which documents should you consult ? - CORRECT ANSWER
-Cadastral Plan
4 ) You are representing your mom , and are about to draft the PP
, which form should you fill out first ? - CORRECT ANSWER -
Notice of disclosure ; to ensure it is known that you are
representing a family member
5 ) You are a new broker who was given a list of random names
and phone numbers to start cold calling potential clients (
telephone solicitation ) , as a broker , what are your first
obligations in this scenario ? - CORRECT ANSWER -Check /
verify the National Do Not Call list , and update the list .
,
6 ) Your client contacts you and wants to purchase a condo . He
owns a cat which will be living with him and is also looking for an
office . He states that he dislikes financial surprises and wants to
be aware of the upcoming expenses . As an acting broker , which
documents should you verity ? - CORRECT ANSWER -
Declaration of co - ownership -By laws -Minutes of the meetings -
Budget forecast / financial statements
7 ) You are visiting a detached single family Immovable with your
client . Your client wants to know if he could have a clothing line in
the backyard to leave his clothes to dry . As a broker you can tell
your client to contact ; - CORRECT ANSWER -Urbanism
8 ) Which benefit's from the home buyers plan are applicable ? -
CORRECT ANSWER -1st time home buyers
-Adults
-Canadian the age of 18 and over Residents ( not just Quebec ,
exam might trick u and put Quebec , always choose Canadian ) -
Purchaser w / the intent to use as primary / principal residence (
need to live inside )
-Up to $ 35.000 per person
- Need to reimburse 35k over 15 years ( monthly )
-RRSP Account that has been open for more than 90 days
9 ) Who must you use / purchase CMHC Insurance ? -
CORRECT ANSWER -People trying to purchase an Immovable
with LESS than 20 % of a downpayment
10 ) You receive a call from someone who is representing his
friend ( his mandatory ) . He says he's representing his friend and
his friend is out of town . He wants to purchase an immovable on
behalf of his friend and knows exactly what he wants . As an
acting broker , what are your responsibilities ? - CORRECT
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) LATEST |GUARANTEED A+
1 ) Your client is in a conflict with the building Inspector , your
client wants advice on how to file a complaint . - CORRECT
ANSWER -Inspector is not a licensed broker , therefore FICI and
FARCIQ cannot help
2 ) You receive a call from one of your clients who recently
purchased an Immovable with you , a week after moving in , the
heat pump stopped working and calls you to complain . As a
broker , how do you act responsibly ? - CORRECT ANSWER -
Call FARQIC and notify the director of your agency
3 ) You receive a call from a potential client who wants to know
the net area of a condo before making an offer on the property .
Which documents should you consult ? - CORRECT ANSWER
-Cadastral Plan
4 ) You are representing your mom , and are about to draft the PP
, which form should you fill out first ? - CORRECT ANSWER -
Notice of disclosure ; to ensure it is known that you are
representing a family member
5 ) You are a new broker who was given a list of random names
and phone numbers to start cold calling potential clients (
telephone solicitation ) , as a broker , what are your first
obligations in this scenario ? - CORRECT ANSWER -Check /
verify the National Do Not Call list , and update the list .
,
6 ) Your client contacts you and wants to purchase a condo . He
owns a cat which will be living with him and is also looking for an
office . He states that he dislikes financial surprises and wants to
be aware of the upcoming expenses . As an acting broker , which
documents should you verity ? - CORRECT ANSWER -
Declaration of co - ownership -By laws -Minutes of the meetings -
Budget forecast / financial statements
7 ) You are visiting a detached single family Immovable with your
client . Your client wants to know if he could have a clothing line in
the backyard to leave his clothes to dry . As a broker you can tell
your client to contact ; - CORRECT ANSWER -Urbanism
8 ) Which benefit's from the home buyers plan are applicable ? -
CORRECT ANSWER -1st time home buyers
-Adults
-Canadian the age of 18 and over Residents ( not just Quebec ,
exam might trick u and put Quebec , always choose Canadian ) -
Purchaser w / the intent to use as primary / principal residence (
need to live inside )
-Up to $ 35.000 per person
- Need to reimburse 35k over 15 years ( monthly )
-RRSP Account that has been open for more than 90 days
9 ) Who must you use / purchase CMHC Insurance ? -
CORRECT ANSWER -People trying to purchase an Immovable
with LESS than 20 % of a downpayment
10 ) You receive a call from someone who is representing his
friend ( his mandatory ) . He says he's representing his friend and
his friend is out of town . He wants to purchase an immovable on
behalf of his friend and knows exactly what he wants . As an
acting broker , what are your responsibilities ? - CORRECT
