RES Questions 41-60
These are mock questions and answers related to the Real Estate Salesperson Examinations mandated by the Council of Estate Agents, Singapore and are meant to be used as a guide or reference to you for preparing for the exam. However, please note that this is not exhaustive and does not guarantee the passing of the REA nor RES exam.
41. Buyers are allowed to finance their house purchase by:
a. borrowing up to 40 percent of the valuation or purchase price, whichever is lower.
b. borrowing up to 60 percent of the valuation or purchase price, whichever is lower.
c. borrowing up to 40 percent of the valuation or purchase price, whichever is higher.
d. None of the above
42. When purchasing a House or Flat, you will need to pay:
a. 6 percent in cash
b. 8 percent in cash
c. 10 percent in cash
d. 12 percent in cash
43. After the Option to Purchase has been exercised:
a. the buyer will not lose the 10 percent deposit if they decide to pull out
b. the seller will not have to refund the 10 percent deposit if they decide to opt out
c. the seller will have to refund only the 10 percent deposit if they decide to opt out
d. the seller will have to refund the 10 percent deposit including the accrued interest if they decide to opt out
44. While a mortgage exists, the _________ will retain the Certificate of Title and will release it to the purchaser after the loan is fully paid.
a. solicitor
b. seller
c. bank
d. none of the above
45. Property tax will be levied if the property is:
a. owner-occupied
b. vacant
c. let out
d. all of the above
46. For residential properties bought on or after 14 January 2011, Seller's Stamp Duty (SSD) is imposed, if these properties are sold within ____ years of purchase.
a. one
b. three
c. five
d. seven
47. After a solicitor prepares a Sales and Purchase Agreement, the sale should be completed within about _____ weeks.
a. four
b. eight
c. ten
d. twelve
41. Buyers are allowed to finance their house purchase by:
a. borrowing up to 40 percent of the valuation or purchase price, whichever is lower.
b. borrowing up to 60 percent of the valuation or purchase price, whichever is lower.
c. borrowing up to 40 percent of the valuation or purchase price, whichever is higher.
d. None of the above
42. When purchasing a House or Flat, you will need to pay:
a. 6 percent in cash
b. 8 percent in cash
c. 10 percent in cash
d. 12 percent in cash
43. After the Option to Purchase has been exercised:
a. the buyer will not lose the 10 percent deposit if they decide to pull out
b. the seller will not have to refund the 10 percent deposit if they decide to opt out
c. the seller will have to refund only the 10 percent deposit if they decide to opt out
d. the seller will have to refund the 10 percent deposit including the accrued interest if they decide to opt out
44. While a mortgage exists, the _________ will retain the Certificate of Title and will release it to the purchaser after the loan is fully paid.
a. solicitor
b. seller
c. bank
d. none of the above
45. Property tax will be levied if the property is:
a. owner-occupied
b. vacant
c. let out
d. all of the above
46. For residential properties bought on or after 14 January 2011, Seller's Stamp Duty (SSD) is imposed, if these properties are sold within ____ years of purchase.
a. one
b. three
c. five
d. seven
47. After a solicitor prepares a Sales and Purchase Agreement, the sale should be completed within about _____ weeks.
a. four
b. eight
c. ten
d. twelve
48. Singapore Citizens or Singapore Permanent Residents may buy properties in Executive Condominium (EC) projects that are in their _________ year from the date of Temporary Occupation Permit (TOP).
a. sixth to tenth
b. first to third
c. twelth to fifteenth
d. eighth to twelth
49. During the sale of a property, the ________ must be stated in order for the contract to be legally enforceable.
a. identification of the property offered for sale
b. price
c. completion date
d. all of the above
50. When you buy any property, you need to pay Stamp Duty within ____ days of the date of contract/agreement.
a. seven
b. fourteen
c. twenty-one
d. thirty
51. The type(s) of joint ownership of a property include(s):
a. joint tenancy
b. tenancy-in-common
c. all of the above
d. none of the above
52. Private property owners can buy HDB flats directly from HDB if:
a. their private properties are not owner-occupied
b. their private properties have been disposed for more than thirty months
c. they pay 10 percent in cash
d. All of the above
53. Private property owners can buy a HDB resale flat from the open market if:
a. the resale flat is to be fully rented out
b. they reside in the resale flat
c. none of the above
d. all of the above
54. If a buyer has one month to go before the 5-year occupation period for his HDB flat expires, can he pay the Booking Fee now as long as he signs the Sale and Purchase Agreement after the one month has passed?
a. Yes, he can pay the Booking Fee three months before the 5-year occupation period expires.
b. Yes, he can pay the Booking Fee anytime before the 5-year occupation period expires.
c. No, he has to sign the Sale and Purchase Agreement before the 5-year occupation period expires.
d. No, he is not allowed to have any interest in private property before the 5-year occupation period expires.
55. ______________ is one of the schemes available to a Purchaser of a HDB Flat.
a. Divorce scheme
b. Investors scheme
c. Orphan scheme
d. None of the above
56. ______________ is a category of "Title of a property".
a. Freehold
b. Leasehold
c. All of the above
d. None of the above
57. A buyer who got the keys to his HDB flat 5 years ago but was overseas for 1 year in between is eligible to purchase a private property now.
a. True, he can purchase a private property because the 5-year occupation period has expired.
b. True, he can purchase a private property anytime after he got the keys to his HDB flat.
c. False, he cannot purchase a private property because HDB excludes any period during which the buyer was not in physical occupation of the property when computing the period of occupation.
d. None of the above.
58. An undischarged bankrupt can apply to purchase a HDB flat:
a. as long as he can pay the 10% cash payment.
b. as long as he can obtain the prior written consent of the official assignee.
c. as long as he submits his application to HDB.
d. None of the above.
59. Upon receiving the Sale and Purchase Agreement, the buyer must sign the Agreement and pay another 10% of the property price within _______ weeks of receipt of the Agreement.
a. two
b. three
c. four
d. twelve
60. If the area of the property is less than the area stated in the Sale and Purchase Agreement, the Purchaser is entitled to a corresponding adjustment of the purchase price for the difference in excess of _______ percent of the specified area.
a. three
b. five
c. ten
d. None of the above
Answers
41. b
42. c
43. d
44. c
45. d
46. b
47. c
48. a
49. d
50. b
51. c
52. b
53. b
54. d
55. c
56. c
57. c
58. b
59. b
60. a
41. b
42. c
43. d
44. c
45. d
46. b
47. c
48. a
49. d
50. b
51. c
52. b
53. b
54. d
55. c
56. c
57. c
58. b
59. b
60. a
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