Thomas Sim E3009

Q.
Any person who is dissatisfied with an assessment of the Collector under section 36 of the Stamp Duty Act 1949 may, by written notice object to the assessment and apply to the Collector to review the […]

Q.
Any person aggrieved on any of the allowable grounds provided in the Local Government Act 171 (1976) may make objection in writing to the local authority at any time not less than fourteen (14) days before the […]

Q.
Mrs Suria purchased a double storey terrace house at Subang Perdana from Mrs Asiah on 30 April, 2008 at a purchase price of 20% higher than the market value. Mrs Asiah was awarded the house by the State of […]

Q.
Calculate the stamp duty and real property gains tax that need to be paid for the following transactions and explain who are responsible to settle the payment.

a) Mr Hadi purchased a bungalow located at […]

Q.
Give some bad examples of subsidies which had adversely affected the economy.

A.
Agricultural subsidies

Support for agriculture dates back to the 19th century. It was developed extensively in the EU and […]

Q.What the negative impacts of subsidy to the economic health of a nation?A.Competitive equilibrium is a state of balance between buyers and suppliers, in which the quantity demanded of a good is the quantity […]

Q.
List down four (4) common types of subsidies given out by government of developing countries.

A.
Production subsidy

A production subsidy encourages suppliers to increase the output of a particular […]

Q.
a) Explain the following terms in the context of national economy:-

National income
Gross National Product
Indirect taxes
Subsidy

( 3 marks each)

b) Explain any one (1) approach of […]

Q.
a) Distinguish the following types of market structures.

Monopoly (4 marks)
Monopolistic competition (4 marks)

b) Show the equilibrium position of a firm and industry under perfect competition in […]

Q.
a) With the aid of diagram, discuss the relationship between factors of production and the law of diminishing returns. (15 marks)

b) Using appropriate examples, explain the meaning of economics of large […]

Q.
Briefly, what are the benefits of having a Will?

A.
In short, a Will allows us to enjoy the following benefits:

Appoint our own executor;
Appoint the trustee;
Appoint the guardian of our […]

Q.What is the effect of Distribution Act 1958 on a deceased property investor?A.When a person passes away, any assets that are registered under the deceased name will be ‘frozen’. This includes money in bank […]

Q.
a) Illustrate how prices are determined by the free forces if demand and supply. (5 marks)

b) Show the different types of elasticity of demand. (5 marks)

c) Necessities tend to be inelastic in demand […]

Q.
a) Explain the basic economic problems that every economic system must resolve. (10 marks)

b) Do you agree with the statement that a “mixed economy” is the most suitable form of economic system in a […]

Q.
Nelson is an estate agent. He was instructed by Rama to evaluate Building X. Rama has stated that Nelson’s Report is important as it will be used by him to make a decision whether or not to buy the building. […]

Q.List down the duties of an agent under common law.A.(5) Agent’s duties to principal under common law1. To act in the best interests of the principala. When an agent is appointed to facilitate or negotiate a […]

Q.
Explain the duties of an agent towards his principal and the situations where a principal can ratify the unlawful act of his agent.

(20 marks, 2011 Q4)

A.
Meaning of ‘ratify’ according to The Free […]

Q.
Explain the procedure of a property auction.

A.
You will need to be above 18 years of age to register and become eligible to bid at an auction. Complete and return to the auctioneer the Auction Registration […]

Q.
There are two Arbitration Acts in Malaysia, namely Arbitration Act 1952 and 2005. What are their differences and how to determine which Act is enforceable?

A.

Procedures & Laws Governing Arbitration in […]

Q.
What is the purpose of adjudication of stamp duty? In a company, who is responsible for ensuring such procedure is done?

A.

a. Purpose of adjudication
An application to determine the amount of duty […]