Prepare for your Section 1 Ontario real estate license with this free comprehensive practice exam. This exam covers key topics from section one of the Ontario Real Estate License Program.
#1. What type of advertising is prohibited in real estate?
#2. What is a property deed?
#3. What is the role of the real estate regulatory body?
#4. Scenario: The broker of record at a brokerage has not provided adequate training as required by REBBA. What is the potential impact on the brokerage?
#5. Why is it important to adhere to advertising regulations in real estate?
#6. What is a disciplinary hearing in real estate?
#7. What is the purpose of a home inspection?
#8. What is the purpose of a waiver in a real estate transaction?
#9. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#10. What is a dual agency situation?
#11. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#12. What is the primary purpose of the Statute of Frauds in real estate transactions?
#13. What role does the Electronic Commerce Act play in real estate transactions?
#14. What role does the Electronic Commerce Act play in real estate transactions?
#15. What is the primary purpose of the Statute of Frauds in real estate transactions?
#16. Why is transparency important in real estate transactions?
#17. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#18. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#19. What is required for an amendment to be valid?
#20. Which document is required to terminate a binding agreement?
#21. How does the Municipal Act impact real estate salespersons?
#22. Scenario: A salesperson fails to disclose a conflict of interest. Under REBBA, what is the likely consequence?
#23. What are the consequences under REBBA for failing to disclose conflict of interest?
#24. What are the obligations under REBBA regarding the advertising of real estate services?
#25. What role does the Electronic Commerce Act play in real estate transactions?
#26. What should be included in all real estate advertisements to comply with regulations?
#27. How often must real estate professionals complete continuing education?
#28. How does REBBA define the responsibilities of a broker of record with regard to compliance?
#29. What does REBBA regulate regarding brokerage trust accounts?
#30. What is an earnest money deposit?
#31. What kind of training does REBBA mandate for all registered brokers and salespersons?
#32. Who ensures that a brokerage complies with REBBA?
#33. According to the Planning Act, what is the impact of an official plan on land development?
#34. What must be included in all real estate advertisements?
#35. How can real estate professionals avoid ethical violations?
#36. How many days does a real estate professional have to pay a fine once imposed?
#37. How long does a real estate professional have to report a criminal conviction to the regulatory body?
#38. Who ensures that a brokerage complies with REBBA?
#39. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#40. Who ensures that a brokerage complies with REBBA?
#41. What does ‘contingent’ mean in a real estate listing?
#42. What is a condition precedent?
#43. What is required under REBBA for a brokerage when there is a change in the broker of record?
#44. What is an example of unethical behavior in real estate?
#45. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#46. When must notice be given for the fulfillment of a condition in an agreement?
#47. How soon must a real estate professional report a significant change in their business address to the regulatory body?
#48. How does REBBA define the responsibilities of a broker of record with regard to compliance?
#49. What is required when an amendment to an agreement is not accepted?
Results
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You have successfully passed the Practice Ontario Real Estate License Practice Exam. Your hard work and dedication have paid off, and you’re one step closer to achieving your goal of becoming a real estate professional. Keep up the great work as you prepare for the official exam. Well done!
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