Prepare for your Ontario real estate license with this free comprehensive practice exam. This exam covers key topics from the five main sections of the Ontario Real Estate License Program.
#1. What happens if the conditions of an offer are not met?
#2. How does the Municipal Act impact real estate salespersons?
#3. What is the significance of a Record of Site Condition (RSC)?
#4. What is required for a change in condominium rules to become valid?
#5. What is the significance of a profit and loss statement for a buyer?
#6. How often must a commercial condominium corporation hold an annual general meeting?
#7. Olivia is buying a property and her brokerage is also representing the seller. What type of relationship is this?
#8. When is a commercial condominium developer required to call a turnover meeting?
#9. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#10. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#11. Kevin is unsure about signing a listing agreement. What should he do?
#12. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#13. What must a developer provide to a buyer when selling a new condominium unit?
#14. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#15. When must notice be given for the fulfillment of a condition in an agreement?
#16. What is the standard notice period a tenant must give to terminate a fixed-term lease early?
#17. Liam’s landlord entered his apartment without notice while he was at work. What can Liam do?
#18. What does the Condominium Act regulate?
#19. What is an example of a third-party professional a buyer might consult?
#20. What is required for a condominium board to amend a bylaw?
#21. What is required under REBBA for a brokerage when there is a change in the broker of record?
#22. What type of insurance is typically required for commercial condominium owners?
#23. Under REBBA, what financial practice must brokerages adhere to with respect to client funds?
#24. What should a salesperson do before showing an industrial property?
#25. What is a shared facilities agreement?
#26. A buyer wants to know what happens if they don’t pay their common expense fees. What is the consequence?
#27. Who is responsible for maintaining common elements in a commercial condominium?
#28. What is a landlord’s obligation regarding pest control?
#29. What is the primary purpose of the Condominium Authority Tribunal?
#30. When can a notice of fulfillment be used?
#31. What are the obligations under REBBA regarding the advertising of real estate services?
#32. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#33. Why is tenant mix important in a commercial property?
#34. What must happen for a condominium bylaw to be amended?
#35. When does an offer become a legally binding contract?
#36. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#37. What is the role of a mutual release in a real estate transaction?
#38. What is required for a condominium board of directors to make rule changes?
#39. David is leasing a retail space and the landlord has provided a non-permitted use schedule. What does this schedule specify?
#40. What are the consequences under REBBA for failing to disclose conflict of interest?
#41. What is a deed of trust?
#42. What is a condition precedent?
#43. What is an exclusive rights clause?
#44. How is the proportion of common expense fees determined for each unit?
#45. What does the Family Law Act primarily address in the context of real estate?
#46. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#47. What is the function of a deed?
#48. What is the purpose of a confidentiality agreement?
#49. Olivia wants to include a condition for a structural engineer’s report before purchase. What is this condition called?
#50. What type of advertising is prohibited in real estate?
Results
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