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. What is the purpose of a final walk-through?
#2. How should a salesperson respond if a buyer finds a significant issue during the home inspection?
#3. What must be done if an offer becomes difficult to read?
#4. What type of condominium does not include units but has shared common elements?
#5. What is a dual agency situation?
#6. Isabella’s offer was accepted but the completion date needs to be extended. What should she do?
#7. How many days’ notice must a landlord give a tenant to terminate a month-to-month tenancy without cause?
#8. Tom is leasing an industrial property and needs to ensure the building can support his heavy equipment. What should he check?
#9. What is a common issue found during home inspections?
#10. A buyer is looking at a mixed-use condominium. What should they be aware of regarding shared facilities?
#11. Emma has not paid her rent for two months. How much notice must her landlord give her before starting eviction proceedings?
#12. What is required for a change in the use of a commercial condominium unit?
#13. What is an example of an exclusive use common element?
#14. What is the role of a home appraiser?
#15. Ethan is reviewing a counter offer from the seller. What must he ensure?
#16. Jackson wants to ensure that the property’s fireplace is included in the sale. Where should this be documented?
#17. Emma is drafting an offer and wants to include an escape clause. What is the primary purpose of an escape clause?
#18. How should a salesperson handle a buyer who is concerned about property taxes?
#19. What is the main purpose of a title search?
#20. What should not be included in a stacked condition?
#21. Which of the following best describes a condominium corporation?
#22. What document is essential for understanding the specific use restrictions of a commercial condominium unit?
#23. What is required for an amendment to be valid?
#24. Zoe’s landlord is requiring a two-month security deposit. Is this allowed?
#25. What is a home equity loan?
#26. What is required for a buyer to rescind their agreement of purchase and sale within the cooling-off period?
#27. When is a real estate transaction considered closed?
#28. What is the purpose of title insurance?
#29. What is the primary legislation governing residential leasing in Ontario?
#30. What is a lien in the context of a condominium?
#31. What is the role of a mortgage broker?
#32. What is a key consideration for a mixed-use commercial condominium?
#33. Lucas received a 14-day notice to pay overdue rent or face eviction. Is this notice valid?
#34. Who is typically responsible for preparing the budget for a new commercial condominium?
#35. What must be included in a rental application form?
#36. What is required for a condominium board of directors to make rule changes?
#37. What is the main difference between commercial and residential condominiums in terms of governance?
#38. What should be checked when a tenant requests immediate occupancy?
#39. What is the minimum notice period a landlord must give a tenant for eviction due to non-payment of rent?
#40. What is the purpose of a New Owner Information Certificate (NOIC)?
#41. What is a zoning ordinance?
#42. What must a salesperson ensure when preparing a lease agreement?
#43. What is a counter offer?
#44. What is the role of a mutual release in a real estate transaction?
#45. Anna is leasing an office space and needs to know if shared facilities like meeting rooms are available. Where should she look?
#46. What is required for a condominium board to amend a bylaw?
#47. What should a potential buyer review to assess the financial health of a commercial condominium?
#48. What is the role of a real estate appraiser?
#49. How long should the listing brokerage retain unsuccessful offers?
#50. Liam is leasing a space in a new office building and wants to ensure that the landlord will complete renovations to improve building accessibility. What should he include in the lease?
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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