Home Buying Expert | Pre-test 2

20 Questions | Total Attempts: 127

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Home Buying Expert | Pre-test 2

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Questions and Answers
  • 1. 
    What is Loading?
    • A. 

      Difference between Built up area and the carpet area

    • B. 

      Difference between Carpet Area and Super Built up Area

    • C. 

      Difference between Built Up are and Super Built up area

    • D. 

      None of the above

  • 2. 
    If a property has a club house, it is never considered as a part of the open space area.
    • A. 

      True

    • B. 

      False

  • 3. 
    If a plot has an FSI of “5” and there are no height restrictions in the location, the project has open space of 75%, what can be the maximum height of the building?
    • A. 

      G+5 Floors

    • B. 

      G+10 Floors

    • C. 

      G+20 Floors

    • D. 

      G+25 Floors

    • E. 

      G+19 Floors

  • 4. 
    _______ is the most expensive part of construction? Select all that apply
    • A. 

      Excavation

    • B. 

      Foundation Work

    • C. 

      Floor Slabs

    • D. 

      Tiling and Painting

  • 5. 
    At approximately what stage of construction do developers typically pre-launch?
    • A. 

      When the excavation hasn’t started (bare land)

    • B. 

      When the excavation and foundation work has just started

    • C. 

      Completion of Excavation and foundation

    • D. 

      Completion of first floor slab

    • E. 

      Completion of Project

  • 6. 
    Mrs. Lakhani is very particular about Vastu in the home she wants to purchase, when she looks at the apartment layout, while exiting the house she is facing south. Is the entrance Vastu compliant?
    • A. 

      Yes

    • B. 

      No

  • 7. 
    Mr Iyer, likes an apartment which has a carpet area of 1000sq ft and Salable area of 1500Sq ft., what is the loading percentage?
    • A. 

      50%

    • B. 

      33%

    • C. 

      25%

    • D. 

      35%

  • 8. 
    Which are the applicable when a property has a clear title?
    • A. 

      The land is legally owned by the developer and/or its partners

    • B. 

      It is not disputed- No other party has any claim on the proposed land.

    • C. 

      Developer has rights to use the land for residential construction purposes.

    • D. 

      Builder has commencement certificates.

  • 9. 
    What is a commencement certificate?
    • A. 

      It is an official document issued by the local authorities to allow or permit the builder to begin construction.

    • B. 

      It is an official document issued by central government to allow the permit the contractor to sanction the project

    • C. 

      It is the document required by the owner of the house to renovate it.

    • D. 

      The document required by the local authority to permit the occupancy by the owner

  • 10. 
    An owner cannot legally occupy his/her apartment unless the ________certificate has been obtained by the developer 
    • A. 

      Commencement

    • B. 

      Completion

    • C. 

      Occupancy

  • 11. 
    What is an allotment letter?
    • A. 

      This letter is given to the customer at the time of loan but before the Agreement is made.

    • B. 

      This letter is given to the customer at the time of possession but before the Agreement is made.

    • C. 

      This letter is given to the customer at the time of booking but after the Agreement is made.

    • D. 

      This letter is given to the customer at the time of or soon after booking but before the Agreement is made.

  • 12. 
    Agreement of sale is ____
    • A. 

      Legal document which lists all terms and conditions pertaining to the purchase of undivided share (UDS) of land.

    • B. 

      Legal document which lists all terms and conditions pertaining to the sale of undivided share (UDS) of land as well as Construction agreement.

    • C. 

      Government document which lists all terms and conditions pertaining to the sale of undivided share (UDS) of land as well as Construction agreement.

    • D. 

      Tri party agreement which lists all terms and conditions pertaining to the sale and loan of undivided share (UDS) of land as well as Construction agreement.

  • 13. 
    What is a Time tied payment plan?
    • A. 

      Daily payments – Not tied to Construction progress

    • B. 

      Quarterly or monthly payments – Not tied to Construction progress

    • C. 

      Periodic payments (monthly, quarterly, etc….) linked with construction progress

    • D. 

      Customer is requested to make payments based on construction on or before a specified time

  • 14. 
    What is 20:80 Subvention scheme with Pre EMI Holiday
    • A. 

      If the down payment is 20%, the loan is 80% and the bank pays Pre-EMI on behalf of the customer, the scheme is called 20:80 Subvention scheme with Pre-EMI Holiday

    • B. 

      If the down payment is 20%, the loan is 80% and the developer pays Pre-EMI on behalf of the customer, the scheme is called 20:80 Subvention scheme with Pre-EMI Holiday

    • C. 

      If the down payment is 20%, the customer is not availing loan and opts to pay Pre-EMI, the scheme is called 20:80 Subvention scheme with Pre-EMI Holiday

  • 15. 
    What is the meaning of Pre-EMI?
    • A. 

      Interest due on the loan amount disbursed by a bank as per the project’s payment plan

    • B. 

      50% of the EMI for an under construction building

    • C. 

      Interest due on full loan amount pre-paid during construction

    • D. 

      25% of the EMI for an under construction building

  • 16. 
    If the developer asks only for 10% down payment, the bank gives 80% loan, the bank pays Pre-EMI interest and the rest 10% is due from the customer at possession, it is called 10:80:10 subvention scheme with Pre-EMI holiday
    • A. 

      True

    • B. 

      False

  • 17. 
    What are the key points to pitch to a customer in case of a Pre-Launch Project?
    • A. 

      Choice of inventory and scope of appreciation

    • B. 

      Brand new, clean apartment when the building is ready

    • C. 

      Low price point

    • D. 

      Quick pace of construction

  • 18. 
    As the project construction advances, why does it become more and more unlikely that the developer will back out?
    • A. 

      They worry about the customers to whom apartments have already been sold

    • B. 

      Developer has made a huge financial investment in the project already, so commitment levels are higher.

    • C. 

      The local authorities will not legally allow the developer to stop a project once excavation is done

    • D. 

      The developer will not be able to use the land for any another purpose if the current project is abandoned

  • 19. 
    What is one of the USPs of a LEED, GRIHA or EDGE project?
    • A. 

      Potential savings on maintenance costs

    • B. 

      Environmentally friendly and energy efficient project

    • C. 

      60% green areas

    • D. 

      All of the above

  • 20. 
    Which of these payment plans do customer prefer and why? 
    • A. 

      Time tied because they can plan their expenses accordingly

    • B. 

      Construction tied because it ensures that the payments due are in line with construction progress

    • C. 

      Time tied because the schedule is set and the developer has very little room to deviate from schedule

    • D. 

      Construction tied because the customer can be assured that the payments are directly used for further construction of the project

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