Prepare for your Section 4 Ontario real estate license with this free comprehensive practice exam. This exam covers key topics from section four of the Ontario Real Estate License Program.
#1. Zoe’s apartment building was sold, and she received a 30-day notice to vacate. Is this notice valid?
#2. What is required when an amendment to an agreement is not accepted?
#3. A buyer is looking at a mixed-use condominium. What should they be aware of regarding shared facilities?
#4. What is the primary purpose of a real estate contract?
#5. What is stacking in real estate offers?
#6. What is the standard notice period a tenant must give to terminate a fixed-term lease early?
#7. What should a salesperson ensure when adding additional terms to the standard lease?
#8. Olivia needs to amend the offer to include a longer closing period. What should she adjust?
#9. Sophie wants to ensure that the garden shed is included in the sale. How should this be documented?
#10. What is a common red flag when reviewing a rental application?
#11. Ethan is reviewing a counter offer from the seller. What must he ensure?
#12. Sophia’s offer includes a condition for the sale of her current home. How long should she allow for this condition to be fulfilled?
#13. Lisa included a financing condition in her offer. What does this mean?
#14. What is the role of curb appeal in selling a property?
#15. What happens if a counter offer is not accepted?
#16. What is required for a condominium board of directors to make rule changes?
#17. What is required for a buyer to rescind their agreement of purchase and sale within the cooling-off period?
#18. What is the purpose of a deposit in an offer?
#19. What is required for a change in the use of a commercial condominium unit?
#20. Kevin is leasing an industrial space and wants to know the sprinkler density required for his warehouse. What factors should he consider?
#21. How should a salesperson handle a landlord’s request to exclude pets?
#22. What is a contingency in a real estate contract?
#23. Which of the following best describes a condominium corporation?
#24. What is required for a condominium board to amend a bylaw?
#25. What must be done if an offer becomes difficult to read?
#26. What should be done to ensure clauses are clear and concise?
#27. Who must complete the director training program provided by the Condominium Authority of Ontario?
#28. What is the purpose of Schedule A in an offer?
#29. What must a salesperson ensure when preparing a lease agreement?
#30. Liam’s landlord wants to sell the house and gave him a 90-day notice to vacate. Is this notice valid?
#31. Michael received a 24-hour notice for the landlord to enter his apartment for repairs. Is this notice valid?
#32. What should be the focus of rental property advertisements?
#33. How can a salesperson help a seller set the right asking price?
#34. Michael is leasing an industrial space and requires a loading dock for his business. What should he specify in the lease?
#35. Lucy is negotiating a lease for a restaurant in a shopping mall. She wants assurance that no other restaurants will open in the same mall. What clause should she include?
#36. Anna received a counter offer that includes a higher purchase price and a quicker closing date. What should she consider before accepting?
#37. What is the purpose of an escape clause?
#38. What is a condominium declaration?
#39. What is the importance of a comparative market analysis (CMA)?
#40. Tom is leasing an industrial property and needs to ensure the building can support his heavy equipment. What should he check?
#41. What happens during a turnover meeting in a condominium?
#42. What is the primary benefit of a fixed-rate mortgage?
#43. What is the primary purpose of the Condominium Authority Tribunal?
#44. What is the primary function of the Condominium Authority Tribunal?
#45. Lucas is leasing an industrial space and needs to know the total electrical capacity. Who is responsible for providing this information?
#46. What is included in a status certificate?
#47. What is the most common method of countering an offer?
#48. What is the primary legislation governing residential leasing in Ontario?
#49. How many days’ notice must a landlord give for a rent increase?
#50. What type of condominium does not include units but has shared common elements?
Results
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