CeMAP Questions

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CeMAP Multiple Choice Questions

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Q:1-Offers to purchase a property in England are typically made:
Mark one answer:

subject to contract
subject to acceptance
unconditionally
subject to confirmation in writing



Q:2-An offer to purchase a property in England or Wales becomes binding on:
Mark one answer:

being put in writing
acceptance
exchange of contracts
completion


Q:3-Which one of the following statements is TRUE after exchange of contracts?
Mark one answer:

The vendor must sell the property to an agreed purchaser but may increase the price if a better offer is received
The vendor must sell the property to the purchaser at the agreed price
The vendor may withdraw the contract if a superior offer is received
The vendor may withdraw the contract only if they take the property off the market


Q:4-At what point in the house buying process will a purchaser's solicitor usually make full payment for the property in exchange for the keys?
Mark one answer:

Exchange of contracts
Completion
Signing of contracts
Adverse easements.


Q:5-A solicitor checks on the possible impact of any town planning schemes by making a search in the:
Mark one answer:

Local Land Charges Registry
HM Land Registry
Land Charges Registry
Local Council Register



Q:6-Buildings insurance to protect a purchaser's new mortgage should commence from what point in the house buying process?
Mark one answer:

Completion
Acceptance of an offer by the vendor
Exchange of contracts
The purchaser making an offer


Q:7-Which one of the following is NOT true in relation to 'exchange of contracts'?
Mark one answer:

It is the point at which the purchaser becomes committed to proceed with the purchase
It is the point at which life assurance to cover the new mortgage should commence
It may occur on the same day as completion
It is the way a vendor accepts the purchaser's offer


Q:8-Although Dawn offered £256,000 for her property, the survey report highlighted essential repairs and the vendor later agreed a new purchase price of £225,000. How much did Dawn save in Stamp Duty Land Tax if the purchase was completed at the reduced price on 11 April 2006?
Mark one answer:

£5,430
£2,250
£930
£310


Q:9-Which of the following statements in respect of the role of the estate agent is true?
Mark one answer:

The estate agent acts as an agent of the vendor and the purchaser
The estate agent acts as an agent of the vendor but not the purchaser
Many estate agents charge more commission if they are the sole agent
An estate agent is not permitted to charge a fee if a sale is not completed


Q:10-Which of the following statements is true in relation to a buyer withdrawing from a house purchase transaction the day before exchange of contracts?
Mark one answer:

The potential buyer is entitled to withdraw and has no liability for expenses or other costs
Because the vendor had accepted the offer to buy in good faith, he may sue the buyer for breach of contract
Due to the lateness of the withdrawal, the vendor is entitled to retain the deposit paid
The vendor is entitled to claim all reasonable expenses incurred to date



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