OACIQ FINAL EXAM ACTUAL WITH

OACIQ FINAL EXAM (ACTUAL / ) WITH

ALL QUESTIONS AND VERIFIED ANSWERS

what is self management self management means the co-owners manage the property, although it is also possible to hire an external company to manage the co-ownership

Immovable property is divided into four subcategories what are they?immovable property by Nature

by attachment or by jointer

by the object to which they are attached

by determination of law

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Describes the 2 steps to enter into brokerage contract Verification of identity and verification of legal capacity ( marriage contract )

What documents can brokers use to identify clients' capacity to be a party to brokerage transactions

• Deed of sale
• Matrimonial regime
• Notarized power of attorney ( mandatory )
• Declaration of transmission ( liquidator )
• Resolution of board od directors

Describe 2 situations where you must use IV form

• unrepresented party
• identify in transactions

What conditions must a license holder acting on behalf of an agency Me to allow to carry out activities within a business corporation? What condition Definition broker acting on behalf of an agency is authorized to carry out within an incorporation. However, they must hold 2 / 4

at least 90% of the corporation shares, to be president of the corporation and have provided the OS stick with all information and documents pertaining to their application.

List the general requirements of the regulations respecting brokerage requirements, professional conduct of broker and advertising Disclosure of professional status Disclosure of conflict of interest To not discriminate Verifying information and its accuracy Eluding liability Do not lend your name Remuneration based on price difference Do not lend or use property Do not delay over property Always use the most recent version of forms

what obligations does the license holder have to the party not represented in a transaction?Broker must promptly notify any other unrepresented party, that they are obligated to protect and promote the interest of the party, that they do represent while treating the 3 / 4

unrepresented party, fairly, and that the unrepresented party made do business with another broker of their choosing

Can a license hold the represent both parties into a transaction no, this is double representation, which is prohibited since

June 10, , but there are two exceptions:

When the broker of the seller and the broker of the buyer are different, but work for the same real estate agency or When there is not another broker in 50 km radius from a property that can represent the buyer -In both cases, the brokerage contract can be maintained by having an accepted written notice by the buyer before the transaction proposal.

under what circumstances is a license holder in conflict of interest in real estate brokerage trans if they have an interest or offer to acquire an interest in an immovable or enterprise that is subject of a sale, purchase or exchange. Also, if they act or offered to act as a lender on a loan, secured by immovable hypnotic.

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