### What is the primary characteristic of a cooperative project in real estate? - [x] A corporation holds the title to the property and sells shares to buyers. - [ ] Individual buyers receive freehold titles directly. - [ ] It involves the rental of individual units owned by a corporation. - [ ] The property is managed entirely by an external real estate company. > **Explanation:** A cooperative project involves a corporation that holds the title to the property and sells shares for individual units to buyers, rather than providing freehold ownership or rental agreements. ### What do buyers receive in a cooperative project after purchasing shares? - [ ] Deed of ownership - [x] A proprietary lease - [ ] A rental agreement - [ ] Freehold title > **Explanation:** In a cooperative project, buyers receive a proprietary lease as their title, allowing them to occupy and use their individual unit. ### How are costs for services and products managed in a cooperative project? - [ ] Costs are individually managed by each unit owner. - [ ] Costs are covered by a government subsidy. - [ ] Costs are irrelevant due to owners' contributions. - [x] Costs are pooled together by all cooperative members. > **Explanation:** Owners pool resources to keep costs down for services and products used by the community, making it a collectively managed effort. ### What process must new residents go through in a cooperative project to buy shares? - [ ] An automated online approval - [ ] A short phone interview - [ ] A background check by a third party - [x] A screening and selection process > **Explanation:** New residents must go through a screening and selection process conducted by the cooperative's management to approve the purchase and ensure suitability. ### Who typically manages the operations and decision-making in a cooperative project? - [ ] A hired external real estate firm - [ ] Governmental authorities - [ ] Property owners through a voting system - [x] An elected board of shareholders > **Explanation:** Management of a cooperative project usually goes through an elected board of shareholders. These members handle screening potential shareholders, contracting for needed services, and maintaining the cooperative's finances. ### What happens if someone in a cooperative project wants to sell their share? - [ ] The sale proceeds without any additional process. - [ ] They can sell their share directly to anyone willing to buy. - [ ] They must seek approval from the government. - [x] They must pass the screening and selection process before the sale can go through. > **Explanation:** The seller must pass the screening process conducted by the cooperative board before the sale can be finalized, ensuring continuity of community standards and expectations. ### Why is the screening process important in a cooperative project? - [ ] To complete transaksi within 24 hours. - [ ] To ensure tax compliance. - [ ] To eliminate legal responsibilities for the board. - [x] To maintain community standards. > **Explanation:** The screening process is important to ensure that new residents align with community standards and values, contributing positively to the cooperative environment. ### Who is ultimately responsible for maintaining the finances of a cooperative project? - [ ] Individual unit owners - [ ] A government body - [ ] A hired accounting firm - [x] An elected board of shareholders > **Explanation:** An elected board of shareholders is responsible for maintaining the finances of the cooperative, ensuring budgetary control and the sustainability of community services. ### How does a cooperative project structure benefit members financially compared to traditional ownership? - [ ] Higher monthly costs but full property control - [ ] Individual financial independence - [x] Pooled resources lower costs - [ ] Government subsidies covering expenses > **Explanation:** The pooling of resources in a cooperative structure helps to lower costs for services and products, providing a financial benefit compared to bearing the entire burden individually as in traditional ownership. ### Which guarantees occupancy rights in a cooperative project? - [ ] Investment in an external property fund - [ ] Transferring lease agreements - [x] A proprietary lease - [ ] Direct freehold ownership > **Explanation:** The proprietary lease guarantees the right to occupy a specific unit within the cooperative project in return for holding shares in the cooperative. ### What type of real estate involves a single building or cluster of buildings with multiple individual housing units? - [ ] Single-family homes - [x] Cooperative housing - [ ] Office buildings - [ ] Agricultural land > **Explanation:** Cooperative housing typically consists of a single building or a cluster of buildings with multiple housing units, managed collectively by the residents through share ownership and a proprietary lease system. ### What role does the elected board of shareholders play in a cooperative project? - [ ] They manage external real estate investments. - [x] They handle screening of potential shareholders and maintain community finances. - [ ] They act as government liaisons. - [ ] They offer loans to residents. > **Explanation:** The elected board of shareholders in a cooperative project is tasked with managing the screening process for new members and maintaining the overall finances and operations within the cooperative community.