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. A buyer’s lawyer requests more time for the title search. What should the salesperson do?
#2. Which type of condominium corporation allows the developer to add new units or common elements in the future?
#3. Which of the following is a common change in a counter offer?
#4. In what scenario can the board of directors make rule changes without owner approval?
#5. What should be checked when a tenant requests immediate occupancy?
#6. Who is responsible for calling a turnover meeting in a commercial condominium?
#7. Michael is leasing an industrial space and requires a loading dock for his business. What should he specify in the lease?
#8. What must a buyer check before making modifications to their commercial condominium unit?
#9. David’s landlord failed to repair a leaking roof despite multiple requests. What can David legally do?
#10. What should be done if a deposit cheque bounces?
#11. How long does a tenant have to respond to an eviction notice for non-payment of rent?
#12. How can a salesperson assist a first-time homebuyer?
#13. A buyer asks about the declaration document. What should the salesperson explain?
#14. A buyer is interested in a unit in a freehold – phased condominium. What should they be aware of?
#15. What must be included in a disclosure statement for a new condominium?
#16. A buyer wants to rescind their purchase agreement within the cooling-off period. What must they provide?
#17. What is included in a condominium’s common elements?
#18. Mary wants to lease a retail space that allows her to pay a fixed minimum rent plus a percentage of her gross sales. What type of lease is this?
#19. What should be the focus of rental property advertisements?
#20. What type of condominium does not include units but has shared common elements?
#21. Natalie wants to take possession of the property as soon as possible. What term is she looking to adjust?
#22. What is required for a condominium board of directors to make rule changes?
#23. What document is often used to collect sensitive information from prospective tenants?
#24. Which of the following is a correct statement about freehold standard condominiums?
#25. What is required for a buyer to rescind their agreement of purchase and sale within the cooling-off period?
#26. Zoe is leasing a retail space and wants to have signage rights. What should she ensure is detailed in the lease?
#27. Laura is negotiating a lease for an office space and wants to ensure that she has enough parking spots for her employees. Where should this be detailed?
#28. What is a counter offer?
#29. What is the primary function of the Condominium Authority Tribunal?
#30. Sarah is purchasing a home and wants to include a condition for a home inspection. How many days should she typically allow for this condition to be fulfilled?
#31. 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?
#32. Who is responsible for maintaining common elements in a condominium?
#33. What is the role of curb appeal in selling a property?
#34. A buyer is interested in a resale condominium. What should they do before finalizing the purchase?
#35. What is the main purpose of a tenant fit-up?
#36. What does ‘under contract’ mean in real estate?
#37. What does the Condominium Management Regulatory Authority of Ontario regulate?
#38. What is the minimum notice period a landlord must give a tenant for eviction due to non-payment of rent?
#39. What is a lien in the context of a condominium?
#40. What must a developer provide to a buyer when selling a new condominium unit?
#41. What is an example of an exclusive use common element?
#42. What is included in a triple net lease?
#43. What is the main difference between commercial and residential condominiums in terms of governance?
#44. What must a salesperson ensure when preparing a lease agreement?
#45. If a buyer wants to ensure the property is free from legal issues before finalizing the purchase, what should be included?
#46. What is a tenant’s right if they discover the rental unit is uninhabitable?
#47. Who elects the condominium board of directors?
#48. What is stacking in real estate offers?
#49. What is the purpose of the Personal Information Protection and Electronic Documents Act (PIPEDA) in real estate?
#50. What should a salesperson do if a tenant has not signed a representation agreement?
Results
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