Thinking about getting your BC Real Estate License? Thinking about perusing an exciting career in real estate? Your first step will be to pass The BC Real Estate Exam. The UBC Trading Services Exam is administered by The University of British Columbia. You will have 100 multiple choice questions to complete in 3 hours. The exam is rigorous!
You will need to master advanced topics in:
The BC real estate exam covers a variety of concepts related to property law. The exam covers property classes, types of property ownership and property transfer rules. The exam covers land use regulations, including government rights as well as private and public controls. Candidates must know land characteristics and the various legal descriptions of property.
The UBC Trading Services Exam covers provincial laws governing real estate such as the Real Estate Services Act and the Real Estate Development Marketing Act. You are also expected to know the various organizations and bodies that regulate real estate in British Columbia.
The real estate math portion covers interest rate calculations, mortgage finance calculations and general lending calculations. Candidates need to know how to calculate mortgage payments in a variety of scenarios. Other real estate calculations include calculations for property taxes, property values and appraisal valuation.
Students must possess advanced knowledge of real estate finance concepts. The exam tests the candidate’s knowledge of different types of real estate loans and the different sources of loans. Students will need to solve rigorous questions for different types of loans including:
The exam also covers various government programs, mortgages and mortgage laws.
Students writing the BC Real Estate Exam must understand real estate valuation and the different methods of estimating real estate value. The UBC Trading Services exam covers the three types of appraisal methods including: the direct comparison method, the cost method and the income method of appraisal.
The UBC Trading Services Exam covers contractual relationships between buyers and sellers. Candidates must have knowledge of general contract law. Candidates must possess property-specific contract knowledge including purchase agreements, lease agreements, counteroffers and rescission rights. Further, the exam covers numerous real estate disclosures such as material facts and property condition disclosures.
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