Dubai RERA Broker Exam Questions and Answers (Latest Update 2024), Exams of Nursing

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Dubai RERA Broker Exam Questions and Answers (Latest Update 2024) Which law applies to Land Registration & Ownership (Role of DLD) - Correct Answer ✅Law No. 7/2006 Which law applies to Designated Areas (Freehold vs Leasehold for non GCC) - Correct Answer ✅Regulation No. 3 of 2006 Which law applies to Regulation of Real Estate Brokers - Correct Answer ✅Law No. 85/2006 Which law applies to Establishment of RERA - Correct Answer ✅Law No. 16/2007 Which law applies to Escrow Accounts - Correct Answer ✅Law No. 8/2007 Which law applies to Tenancy Law - Correct Answer ✅Law No. 26/2007 Law No. 33/2008 (amendment) Which law applies to Jointly Owned Property ("JOPs") - Correct Answer ✅Law No. 27/2007 Dubai RERA Broker Exam Questions and Answers (Latest Update 2024) Which laws applies to Interim Pre-Title Register - Correct Answer ✅Law No. 13/2008 Law No. 9/2009 Decree No. 6/2010 Which law applies to Mortgage Law - Correct Answer ✅Law No. 14/2008 Which laws applies to Rentals Increases / Decreases - Correct Answer ✅Decree No. 1/2009 Decree No. 2/2001 What does a transaction that is concluded contrary to Law 7 of 2006 result in? - Correct Answer ✅A Breach of the Criminal Code, which could lead to prosecution and professional sanctions. Structure of the Dubai Real Estate Legal System - Correct Answer ✅1. Institutions 2. Registries Dubai RERA Broker Exam Questions and Answers (Latest Update 2024) Color of badge for a general broker? - Correct Answer ✅Blue badge All properties, Developer; Free zone but not Timeshare Color of badge for a developer specific broker? - Correct Answer ✅Green badge Color of badge for a free zone only broker? - Correct Answer ✅Yellow badge Color of badge for a time-share broker? - Correct Answer ✅Red badge (Only Red badges can do time share an vice versa) Time limit to apply for renewal of broker's license - Correct Answer ✅1 month What is ORN? - Correct Answer ✅Office Registration Number What is BRN? - Correct Answer ✅Broker Registration Number Dubai RERA Broker Exam Questions and Answers (Latest Update 2024) Rental commission norm - Correct Answer ✅5% (You can charge more if you inform them of the norm) How much can a developer charge in admin fees (NOC) for a finished property? - Correct Answer ✅500 dhs How much can a developer charge in admin fees(NOC) for unfinished property? - Correct Answer ✅5000 dhs A developer must establish an OA within x days of the first unit being sold.. - Correct Answer ✅x = 90 days All sales of multi unit properties must be attached to an JOPD - Correct Answer ✅True OA appoints a service manager who carries out.. - Correct Answer ✅MOM (Management, Operation and maintenance) Dubai RERA Broker Exam Questions and Answers (Latest Update 2024) OA convenes an AGM to appoint Board, which numbers: - Correct Answer ✅5 or 7 with 3 spare. The developer can own a max of what percentage of a building? - Correct Answer ✅50% How long does a developer warrantee the building for? - Correct Answer ✅10 Years What is the name of the system every broker must be registered on? - Correct Answer ✅SIMSARI What is Form A? - Correct Answer ✅Between Seller & Broker What is Form B? - Correct Answer ✅Between Buyer and Broker What is for U - Correct Answer ✅Client terminating broker (7 days notice) (must be attached to form A and B) Dubai RERA Broker Exam Questions and Answers (Latest Update 2024) To register a project, the developer must own what percentage of the land? - Correct Answer ✅100% , or if there is a mortgage, then 20% construction must've been completed. Sales and Purchased agreements for units in an unfinished project must be registered as what? - Correct Answer ✅Oqoood Who can provide an escrow account? - Correct Answer ✅A registered financial institution. What is a project's escrow account used for? - Correct Answer ✅For off plan sales What is the first payment a developer can take from an escrow account? - Correct Answer ✅5% for soft costs eg marketing What are the 3 basis of UAE "Rule of Law"? - Correct Answer ✅1. Codes 2. Decrees 3. Regulations Dubai RERA Broker Exam Questions and Answers (Latest Update 2024) To develop a legal understanding, brokers must be able to do what 3 things? - Correct Answer ✅1. Locate source of law 2. Identify relevant facts 3. Act or comply with legal requirements What are the 3 sources of UAE Law? - Correct Answer ✅1. Religion 2. Customs 3. International law What is the only recognized authority to register real estate transactions outside the DFSA? - Correct Answer ✅The Dubai Land Department (DLD) The Real Property Register is held at the DLD and branches held with whom? - Correct Answer ✅Master developers Upon death of owner, legal heirs must register with whom? - Correct Answer ✅Legal heirs must register with the DLD as heirs of the deceased Dubai RERA Broker Exam Questions and Answers (Latest Update 2024) Monies in a trust account cannot be used as security for a creditor of the developer? (True or False?) - Correct Answer ✅True What are the four factors that a broker must ensure when selling off plan properties? - Correct Answer ✅1. Validity of project 2. RERA approved trust account established 3. Developer / broker agreements registered with RERA 4. Have seller approve advertising Which document must a broker obtain from the developer before selling off- plan? - Correct Answer ✅NOC from RERA to promote and sell "off-plan" units of the project. How much is the Administration fee payable to DLD upon transfer of title? - Correct Answer ✅315 dirhams A mortgage may be secured by one of what 3 things? - Correct Answer ✅1. The whole property 2. An undivided interest in the property