Caf - Self Assessment Quiz 2-2 Sale / Purchase
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!
- 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
Questions: 11 | Attempts: 36 | Last updated: Mar 21, 2022
-
Sample QuestionWhich region are you from?
Questions: 40 | Attempts: 318 | Last updated: Mar 21, 2022
-
Sample QuestionThe data reporting that sickle cell disease affects approximately 1 in 600 American blacks is an example of which concept?
Questions: 5 | Attempts: 49 | Last updated: Mar 22, 2022
-
Sample QuestionInstead of providing the 3rd party merchant name to the customer, what is the preferred verbiage to use when a customers book is coming from somewhere other than Chegg's warehouse?
Back to top