Certificate in Credit T15 – 5R Strategic Consultancy Sdn Bhd

Name

Section 2 of the Stamp Act defines "duly stamped" as applied to an instrument means

Endorsement will be made on the instrument upon payment of the required stamp duty

That the instrument bears on adhesive or impressed stamp of no less than the proper amount and that such stamps has been affixed or used in accordance with the law

Ad valorem stamp duty for the Principal charge and nominal stamp duty for subsidiary charge

Ad valorem stamp duty for the Principal charge and nominal stamp duty for subsequent charge

Under NLC 1965, uniform system governing all dealings in land applicable only

in Peninsular Malaysia only

in Peninsular Malaysia, Sabah and Sarawak

in respect of land without the issuance of documents of title

to land for which documents of title has been issued

Which of the following statement is true with regard to the standard sale and purchase agreement as provided under Schedule G and Schedule H under Housing Development (Contract and Licensing Act 1966)?

Schedule G and Schedule H are used for purchase of properties under construction only

Schedule G and Schedule H used for the purchase of a shop office or shop lot in shopping complex only

Schedule G and Schedule H are used for development intended for residential purpose only

Schedule G and Schedule H are used for all properties from developer and not used for sub sale transaction

Which of the following is NOT the purpose of the land search?

To ascertance the condition of the title

To ascertain the existence of any debenture

To reconfirm the particular of the document title

To ascertain the existence of the only restrictence in interest

Which of the following statement FALSE relating to Malay Reserved Land?

Approval can only obtained from the land office of the respective state to permit dealing in Malay Reserved Land in favour of specified person or body

A power of attorney executed in power of a person who is not "Malay" of creation of trust of such land to persons who are not Malay is similarity prohibited

The signature of the Chargor of the Malay Reserved Land must be attested only by the Land Administrator

Any dealing disposal or attempt to deal or dispose of Malay Reserved Land in contravention of the Malay Reservation Enactment shall be null and void

Which of the following statement is NOT TRUE in describing an indemnity?

I. An indemnity is and undertaking by person giving the indemnity to pay the bank
II. This undertaking to pay is dependent upon the default of the borrower
III. It constitutes a secondary obligation on the giver of the indemnity to repay the loan when demanded by bank
IV. It must be given by a third party who is not the borrower

I, III and IV

II and III

I and IV

I, II and IV

Which of the following statement is FALSE with regard to the benefits of taking a joint and secured guarantees to the lender?

A discharge of one of the guarantors will not discharge the others

The estate of a guarantor who dies or become bankrupt remains liable to lender

The bank has options of either suing all of the them jointly, or chasing from any of the guarantors whom they may prefer to sue

The bank must institute proceeding against all guarantors and there is no option to select which of the guarantors the bank should sued

Crystallisation of the debenture will occur under the following circumstances EXCEPT

Change in major shareholders of the company

Business ceased operations

Winding up of the company

Appointment of receivers by debenture holders

Which of the followings are similarities between private caveat and lien holder's caveat?

I. Both require registration at the land office
II. Both will expire after 6 years
III. Both require the issues document of title to be deposited for its creation
IV. Both do not require ad valorem stamp duty

II and III

I and II

I and IV

II and IV

Pari Passa sharing of a first legal charge over property provided by borrower to more than one bank means

Subsequent chargee shall rank after the first chargee in distribution of sales proceeds

Subsequent chargee rank in priority to the first chargee in distribution of sales proceeds

Equal priority for existing chargees with prorata distribution of sales proceeds

Equal priority for existing chargees with equal distribution of sales proceeds

Compute the amount of stamp duty payable on transfer (Adjudication of the memorandum of transfer) of land title market value RM530,000

RM11,900

RM9,900

RM26,500

RM15,900

Which of the following statements is NOT consistent with the concept of Indefeasibility of title to a property

No other person can have a better interest in property than the registered party

The registered title is free from all adverse claims or encumbrances not noted on the official register of dealings at relevant land registry

Exceptions to indefeasibility of title are fraud, forgery, misrepresentation and insufficient or void instruments

Once a charge is executed by the chargor and chargee, it confers an indefeasible title

Under NLC 1965, Alienation of Land refer to

Approval in acquiring or owning state land to an individual or entity after payment or specific premium

Process by which State Authority transfer ownership, interest, or right in state land to another person or entity

Land granted by the state comprises freehold land, leasehold land, tenancies, Malay Reserved, Customary and native land

Letting of land for a term exceeding three years in Peninsular of Malaysia and one year in Sabah and Sarawak

Which of the following is an advantage of Lien Holder Caveat?

The enforcement process is easy

It expires within 6 years

No stamp duty payable

Upon default, lender can proceed immediately with foreclosure

Types of land where title is generally reference to as grant in perpetuity is called

Tenancies

Malay Reserved Land

Leasehold Land and Sub-Lease

Freehold Land

Which of the following loan circumstance would cause past consideration to arise?

After the loan is approved but before it is disbursed, the guarantee is obtained

After the loan is approved and disbursed, the guarantee is obtained

Before the loan is approved and disbursed, the guarantee is obtained.

After the loan has been fully settled and the guarantee has been discharged

Under Section 304 of NLS 1965, the effective date of registration of any instruments shall be taken as

the time and date of stamping for registration of the charge document at stamping office

the time and date of its presentation as entered in the Presentation Book Maintained by the Registration of Land Title

the time and date once a charge is executed and signed by the chargor and the chargee

the time and date for presentation of the charge document id Registration of Land Title

Which of the followings are types of land titles under NLC 1965

I. Final Title
II. Qualified Title
III. Freehold Title
IV. Leasehold Title

II and IV

III and IV

I and II

All the above

NLC 1965 refer to dealings in land includes the followings

I. Sales and Purchase
II. Transfer
III. Charge
IV. Lien Holder Caveat

II and III

II, III and IV

I only

All the above

Which of the following statement is FALSE relating to bankrupt?

A bankrupt is competent to enter into any controls affecting his land before the land has been transmitted to and registered in the name of the Official Assignee

It is a criminal offence against a bankrupt if he charge the property to the financial institution

Land and interest in the land belonging to the bankrupt shall only vast in equity and not in law in the Official Assignee

There is no prohibition against a bankrupt from deposing of his property or charging it to a financial institution

Follow us: