Download Dubai RERA Broker Exam Questions and Answers (Latest Update 2024) and more Exams Nursing in PDF only on Docsity!
Update 2024)
Which law applies to Land Registration & Ownership (Role of DLD) - Correct Answer ✅Law No. 7/ 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/ Which law applies to Establishment of RERA - Correct Answer ✅Law No. 16/ Which law applies to Escrow Accounts - Correct Answer ✅Law No. 8/ Which law applies to Tenancy Law - Correct Answer ✅Law No. 26/ Law No. 33/2008 (amendment) Which law applies to Jointly Owned Property ("JOPs") - Correct Answer ✅Law No. 27/
Update 2024)
Which laws applies to Interim Pre-Title Register - Correct Answer ✅Law No. 13/ Law No. 9/ Decree No. 6/ Which law applies to Mortgage Law - Correct Answer ✅Law No. 14/ Which laws applies to Rentals Increases / Decreases - Correct Answer ✅Decree No. 1/ Decree No. 2/ 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
- Registries
Update 2024)
EJARI System - Correct Answer ✅System that records all rental agreements Who must register a rental agreement? - Correct Answer ✅The landlord Who pays for registering the rental agreement? - Correct Answer ✅The tenant Who's name is a project's trust account created - Correct Answer ✅The project Who can market a project's property units? - Correct Answer ✅An employee of the developer Who applies for a broker's license? - Correct Answer ✅A registered brokerage company What are the 3 ratings given to brokers - Correct Answer ✅Silver, Gold & Platinum
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
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)
Update 2024)
What is Form I - Correct Answer ✅Inter-broker agreements What is Form F - Correct Answer ✅Sales agreement between all parties Max term for form A - Correct Answer ✅90 days Form A can be of what 3 types? - Correct Answer ✅1. Exclusive
- Sole
- Open Listed (max 3) Max number of days that a sales is valid for? - Correct Answer ✅3 Days Valuation CMA is of how many units over what time frame? - Correct Answer ✅6 units in last 6 weeks Who signs form F first? - Correct Answer ✅Buyer signs first = offer Seller signs second = contract
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
- Decrees
- Regulations
Update 2024)
To develop a legal understanding, brokers must be able to do what 3 things?
- Correct Answer ✅1. Locate source of law
- Identify relevant facts
- Act or comply with legal requirements What are the 3 sources of UAE Law? - Correct Answer ✅1. Religion
- Customs
- 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
Update 2024)
- By right in-rem over an off plan property A mortgage not registered with the DLD is invalid. (True or False?) - Correct Answer ✅True What are the borrower's obligations and restrictions until the loan is discharged? - Correct Answer ✅1. Not sell or gift the property without permission.
- Create a right in-rem without permission.
- Keep the property in good condition Mortgage registration must include what information? - Correct Answer ✅1. The property
- The Mortgagor (borrower)
- The mortgagee (lender)
- The Guarantor Who is first responsible for drafting a preliminary JOP Declaration? - Correct Answer ✅Each developer must initially draft a preliminary JOP Declaration.
Update 2024)
Where must the JOPD be registered with? - Correct Answer ✅The DLD. What is the JOP Declaration? - Correct Answer ✅Jointly Owned Property Declaration dealing with the common areas of the project.
- A site plan of any common areas.
- A description of each of the units.
- A list of the community rules that apply in the development.
