Caf - Self Assessment Quiz 2-2 Sale / Purchase

8 Questions | Total Attempts: 35

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Caf - Self Assessment Quiz 2-2   Sale / Purchase - Quiz

This quiz has been designed to augment your learning and validate your knowledge. Please set aside some time to complete each question carefully. This is an open-book quiz. Click "Next" to get started with the survey Good Luck!


Questions and Answers
  • 1. 
    Please Provide your First & Last Name
  • 2. 
    What is the difference between "Bridge Financing" and "Interest on a short term loan" ? Recall at least two differences.
  • 3. 
    Which region are you from?
    • A. 

      Ontario Region

    • B. 

      Quebec / NCR & International Region

    • C. 

      Atlantic Region

    • D. 

      Western & Central Region

  • 4. 
    If the principal residence is co-owned by the CAF member's ex-spouse, the reimbursement of sale benefits will be capped at 50%?
    • A. 

      True

    • B. 

      False

  • 5. 
    MWO Davis' COS date was July 9th, 2013 His intentions were to "elect not to sell" his principal residence. The move was booked with a  Pack/Load  date of July 5th and 6th, 2013. On June 15th, he contacted his BGRS Advisor and requested his Real Estate Incentive to be cashed out.   Is there a time limitation on  payout of the Real Estate Incentive (REI)
    • A. 

      No, as it was requested within the 30 days of his COS

    • B. 

      No, the Real Estate Incentive can be cashed out at anytime

    • C. 

      Yes, the Real Estate Incentive can only be cashed out on or after the load of HG&E

    • D. 

      No, the Real Estate Incentive was requested after the load date

  • 6. 
    Is the Home renovations for the disabled deemed a taxable benefit?
    • A. 

      Yes

    • B. 

      No

    • C. 

      Only if the amount is below 15,000

    • D. 

      Only if reimbursed from Core

  • 7. 
    When should Brookfield GRS request a CERC Appraisal as opposed to a Standard Appraisal?
    • A. 

      When the lot size is over 1.25 acres

    • B. 

      When the lot size is over 1.25 acres and a loss is expected on the principal residence

    • C. 

      When the principal residence is an income producing property

    • D. 

      When a loss is expected on the principal residence

  • 8. 
    When a CAF member sells his residence in the province of Quebec, it is the purchaser that chooses the lawyer (notary). If the legal fees exceed the pre-negotiated rate will they be reimbursed?
    • A. 

      Yes

    • B. 

      No

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