Download Dubai RERA (Real Estate Regulatory Authority) Certification Exam 2025 | All Q/A and more Exams Real Estate Management in PDF only on Docsity!
Dubai RERA (Real Estate Regulatory
Authority) Certification Exam 2025 | All
Questions & Answers (100% Correct)
Main policy of RERA - ANSWER - set policy, procedure and such for transactions in real estate in order to increase foreign investments and have one central place to secure all parties involved. Emaar developed - ANSWER - the springs, meadows, parts of marina, burj khalifa, the greens, lots of downtown nakheel developed - ANSWER - palm jumeiarh, international city, land department established - ANSWER - 1960 january organize transactions, documents for all parties in real estate for govt of dubai - ANSWER - land dept relationship between rera and land dept - ANSWER - rera is subsidiary to land dept. rera does what - ANSWER - regulates real estate in dubai rera launched in - ANSWER - 2007 rera is - ANSWER - a government agency with its own financial admin independence to make full legal authority to regulate rera's responsibilities - ANSWER - Regulate Real Estate: Agents HOA's Rental agreements developer escrows Activities Advertising four types of broker cards - ANSWER - time share free zone for specific area all of dubai developer properties only agent code of ethics - ANSWER - fair treatment respectful treatment privacy
trust quality respect laws integrity society obligations interest of contracting party respect documets respect land dept regulations 6 ways to evict a tenant - ANSWER - damage illegal not paying 1st degree family moving* converting from residential to commercial* *must have one year notice certified, notary public etc. requirements for landlord to increase rent - ANSWER - after first year with 90 day official notice following index as follows: <25=0 increase 26-35 = 5% increase 36-45 = 10% 46-55 = 15% 56> = 20% when landlord first rents unit out what price can they put - ANSWER - anything they want Law governing commissions - ANSWER - law no 13, where buyer pays 1% and seller pay 1% developer can charge how much admin fee? - ANSWER - 500 AED for finished properties with title deeds, and up to 5,000 for off plan with Oqood. Law #14 - ANSWER - 2008, every mortgage register 0.25% Law no 26 - ANSWER - of 2007 Law #8 of - ANSWER - 2007 escrow Law no 27 of - ANSWER - 2007 law # 85 - ANSWER - of 2006, cannot perform your job unless you are a registered broker max number of agents on an open listing - ANSWER - is 3
parking is common area or what? - ANSWER - owned by private individuals but responsibility of HOA to maintain, also some free spots for guests municipality sides with _______________ in landlord tenants because.... - ANSWER - tenants to show the world they are not harsh with tenants acceptable forms of notice for landlord/tenants - ANSWER - registered mail or notary public NOT EMAIL NOT PHONE CALLS NOT SMS!! normal sales commission on residential sales - ANSWER - 2% listing agreements are for ______________ days? - ANSWER - 90 days, then you do an amendment form or new agreement! form A three types of listing agreements - ANSWER - Exclusive--guarantee agent commission Sole--guarantee except if seller sells it--say to someone they know Open listing--anyone can sell but technically only 3 agents can work with seller simsari costs _________ - ANSWER - free first month then 100 AED per property per month STR number is - ANSWER - 937/3463/13/10/ ORN/BRN/y/m/registration no once printed you have ________ hrs to get signatures for your str - ANSWER - 72 hrs how can you get commission of seller backs out of the deal - ANSWER - if you have signed listing agreement and you brought a buyer ready willing able with check, and seller backs out go to land department they will fight to get your commission AND will fight to get buyer's compensation including flight costs, trip costs etc.. agent to agent agreement is ________ - ANSWER - form I form U is - ANSWER - cancellation agreement needs: reason for termination date of termination 7 days notice if you don't get an answer within 24 hours on your offer you.... - ANSWER - have a right ot contact the seller directly for an answer can you work with scanned copy on these forms?? - ANSWER - YES and NO...
yes initially can upload scanned copy but you need ot courier the original right after.. open listing - ANSWER - for selling, can only have 3 agents for buyers agents, can have unlimited number!!! form for seller + buyer - ANSWER - F form for seller and broker - ANSWER - A form for buyer and broker - ANSWER - B form for termination - ANSWER - U form for broker and broker - ANSWER - I law _____ of ________ on ethics and honesty - ANSWER - 85 of 2006 transfer of a property before handover occurs at developers office T/F - ANSWER - true developer requires trust account after __________ date - ANSWER - dec 29 2007 International buyers coming to UAE to transact can only - ANSWER - deal agent to agent with their license number from their country should an agent decline a listing if seller is asking for above market value? - ANSWER - yes str = - ANSWER - special transaction register listing agent form is - ANSWER - form "A" list all the forms of a transaction - ANSWER - Form A--listing agreement, listing agent and seller Form B--buyer and buyer's agent Form I--Offer from buyers agent to sellers' agent Form F--acceptance agreement, buyer and seller agreement! submit offers only... - ANSWER - in writing!, email, fax, etc.. Law allows to own property in dubai - ANSWER - 7 of 2006 Laws: 3 5 7 13
Name the 4 brokers office classification categories & percentage - ANSWER - gold- 100%-91% silver- 90%-81% bronze-80%-71% general-70%-0% what card does a general broker have - ANSWER - blue card only timeshare broker card - ANSWER - red card card for national brokers - ANSWER - navy grey card - ANSWER - for registration trustees brown card - ANSWER - for real estate valuators yellow card - ANSWER - transactions only in free zone card colour for national brokers - ANSWER - navy for who is the brown broker card - ANSWER - for real estate valuators what does DLD stand for - ANSWER - Dubai Land Department what does RERA stand for - ANSWER - real estate regulatory agency which company oversees affairs related to lands, private properties in the emirates to register them in a systematic and effective manner to safeguard the rights of people - ANSWER - DLD - Dubai Land department what does RDC stand for - ANSWER - rental dispute centre Decree no.(21) of 2013 - ANSWER - special judicial committee for the liquidation of cancelled projects what does ORN stand for - ANSWER - office registration number what does BRN stand for - ANSWER - brokers registration number what does STR stand for - ANSWER - special transaction register what is a OQOOD - ANSWER - my ownership certificate where do you do the lease registrations? - ANSWER - Ejari.AE
where do the developers register - ANSWER - they register projects, developments and escrow accounts with RERA name the 2 master developers - ANSWER - Emaar & Nakheel what does the registration trustee do? - ANSWER - completes clients transactions outside DLD working hours who can be a registration trustee - ANSWER - a legally qualified UAE NATIONAL what is the Tabu system responsible for? - ANSWER - Conducting real estate procedures - selling , registering mortgages in which property ownership can you own the property but not the land - ANSWER - leasehold property what is the min-max you can own a leasehold property - ANSWER - 10-99 yrs can you rent out a leasehold property? - ANSWER - yes, you can live in , rent out and modify the property just like a freehold if somebody owns a leasehold property and they die but they have 20 yrs remaining of the lease who will inherit it? - ANSWER - their family members - for the remaining 20 yrs how long can you own a freehold property for? - ANSWER - forever the land and the building is YOURS what is a "designated area" - ANSWER - an area where foreigners can buy or rent out property for a long time how many "designates areas" are there in Dubai - ANSWER - 24 so far does the RDC have jurisdiction over leaseholds - ANSWER - no DLD - ANSWER - Dubai Land Department RERA - ANSWER - Real Estate Regulatory Agency BUA - ANSWER - Built Up Area BRN - ANSWER - Broker Registration number DRN - ANSWER - Developer Registration number
