Dubai RERA Broker Exam with 100%
correct answers
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
...
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
3. Laws
Real Property Register - CORRECT ANSWER "A set of documents held in
written or electronic format in the electronic register at the
Department, which point out the description and location of Real
Property and the rights attached hereto".
Highest Burj Khalifa - CORRECT ANSWER 829,8 (2722 ft)
Business Bay number of buldings - CORRECT ANSWER 240 (completed
2008)
Palm Jumeirah - CORRECT ANSWER 3 Palms 520 km by Nakheel
Al Maktoum International Airport - CORRECT ANSWER Projected anual
capacity 160 Million passanger
The World Island - CORRECT ANSWER by Nakheel
Dubai Land Department (DLD) - CORRECT ANSWER The main objective of
DLD is to organize and documents all real estate transaction for and
behalf Dubai Goverment. established 24.01.1960
RERA - CORRECT ANSWER Real Estate Regulatory Agency. Rera
regulates the real estate investment in the emirate of Dubai. Launched
31 of July 2007.
,Objectives of RERA - CORRECT ANSWER RERA Role is:
- Licensing all real estate activities.
- Managing and organizing real estate developers' trust accounts.
- Licensing and organizing real estate agents.
- Regulating and registering Rental Agreements.
-Regulating and supervising the owners associations.
Regulation #3 of 2006 - CORRECT ANSWER In 2001 Dubai Goverment
agreed to allow expats to have 99-year lease of particular property. In
2002 Sheikh Mohammed bin Rashid Al Maktoum, issued a decree
allowing foreigners to buy property on freehold ownership.
Freehold - CORRECT ANSWER You own property and land Forever.
Leasehold - CORRECT ANSWER You own property but not land
Tarakheesi - CORRECT ANSWER Tarakheesi is web application meant
for Real Estate Offices for managing Real Estate Broker operation.
-Issuing broker card
-Updating broker card
Cancelling broker card.
Blue Broker Card - CORRECT ANSWER Blue card issued under the DED
licenses and brokers are allowed to work in Dubai.
Allows brokers to sell/lease in Dubai + FZ + Sell for developers but not
time share.
Green Broker Card - CORRECT ANSWER Can only sell developers project.
Red Broker Card - CORRECT ANSWER only time share properties; sell
one unit to more than one person.
Yellow Broker Card - CORRECT ANSWER only FZ properties
Return on investment (ROI) - CORRECT ANSWER It measures the gain or
loss generated on an investment relative to the amount of money
invested.
, ROI is usually expressed as a percentage and is typically used for
personal financial decisions, to compare a company's profitability or to
compare the efficiency of different investments.
ROI (Net profit/Cost of investment)x100
What's is a listing? - CORRECT ANSWER A listing is a contract between
an owner and broker.
What is the different between type of listings? - CORRECT ANSWER -
Exclusive
-Open listing
What is multiple listing? - CORRECT ANSWER MLS is an arrangement
among a group of agents whereby they agree to share information and
split commission.
What is a qualified buyer? - CORRECT ANSWER Seeking to buy.
What is an assent? - CORRECT ANSWER It is something of value that one
owns.
What is liability? - CORRECT ANSWER It is opposite of asset ; It's a debt
or obligation that one owns.
What is the Law 26 of 2007 - CORRECT ANSWER It regulates the
relationship between the tenant and landlord.
ORN - CORRECT ANSWER Office Registration Number
BRN - CORRECT ANSWER Broker Registration Number
STR - CORRECT ANSWER Special Transaction Register
All transaction Agreements
If ad does't have BRN or ORN Number - CORRECT ANSWER Penalty AED
50'000
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