Prepare for your Section 2 Ontario real estate license with this free comprehensive practice exam. This exam covers key topics from section two of the Ontario Real Estate License Program.
#1. How does the Municipal Act impact real estate salespersons?
#2. How should a salesperson handle a buyer who is concerned about property taxes?
#3. Anna wants to know if a brokerage has any complaints against them. Where should she check?
#4. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#5. How should a salesperson respond if a buyer finds a significant issue during the home inspection?
#6. What is the impact of good school districts on property value?
#7. What is a zoning ordinance?
#8. What is the primary purpose of the Statute of Frauds in real estate transactions?
#9. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#10. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#11. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#12. How does the Municipal Act impact real estate salespersons?
#13. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#14. What should a salesperson do if a property is overpriced?
#15. What is a common reason for a real estate deal to fall through?
#16. What is a common issue found during home inspections?
#17. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#18. What are the obligations under REBBA regarding the advertising of real estate services?
#19. According to the Planning Act, what is the impact of an official plan on land development?
#20. Isabella received an offer on her property but is unsure if it’s fair. What should she ask her brokerage?
#21. What role does the Electronic Commerce Act play in real estate transactions?
#22. What is the benefit of a pre-approval letter for a buyer?
#23. What are the obligations under REBBA regarding the advertising of real estate services?
#24. What does the Family Law Act primarily address in the context of real estate?
#25. What does the Family Law Act primarily address in the context of real estate?
#26. Who typically pays the commission to the brokerage in a real estate transaction?
#27. What does ‘contingent’ mean in a real estate listing?
#28. What is a dual agency situation?
#29. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#30. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#31. How does the Municipal Act impact real estate salespersons?
#32. What is the best strategy for pricing a home to sell quickly?
#33. What should a salesperson do if a buyer wants to make an offer below market value?
#34. What role does the Electronic Commerce Act play in real estate transactions?
#35. What does the Family Law Act primarily address in the context of real estate?
#36. What is an appraisal contingency?
#37. What is the function of a deed?
#38. What should a salesperson do if a property appraisal comes in lower than the offer price?
#39. What obligation does a brokerage have when representing a buyer?
#40. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#41. What is a real estate disclosure?
#42. What does ‘under contract’ mean in real estate?
#43. What is the significance of an earnest money deposit?
#44. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#45. What is the role of a mortgage broker?
#46. How can a salesperson help a seller set the right asking price?
#47. How can a buyer ensure they are working with a licensed brokerage?
#48. How can a salesperson assist a first-time homebuyer?
#49. What is a lease option?
#50. What is a buyer representation agreement?
Results
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