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 is included in a status certificate?
#2. A buyer wants to know what happens if they don’t pay their common expense fees. What is the consequence?
#3. What must a buyer check before making modifications to their commercial condominium unit?
#4. What should a seller do if they cannot provide financial statements?
#5. What is the primary purpose of a real estate contract?
#6. What is required for a lease to be binding?
#7. A potential buyer asks about the role of the condominium board. How should the salesperson respond?
#8. How can a salesperson help a seller prepare their home for sale?
#9. What is required for a real estate professional to reinstate their license after suspension?
#10. What is a common clause included in commercial lease agreements?
#11. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#12. How long must a real estate professional keep records of transactions?
#13. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#14. What is an anchor tenant?
#15. What is a balance sheet?
#16. What does ‘contingent’ mean in a real estate listing?
#17. What can a condominium board do if an owner is in arrears for common element fees?
#18. What is required for a buyer to accept a counter offer?
#19. What is the main purpose of a title search?
#20. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#21. What type of information is prohibited in real estate advertising?
#22. According to the Planning Act, what is the impact of an official plan on land development?
#23. What is the primary purpose of the Condominium Authority Tribunal?
#24. Michael received a 24-hour notice for the landlord to enter his apartment for repairs. Is this notice valid?
#25. What is the result of a disciplinary action if a violation is proven?
#26. What is an appraisal contingency?
#27. What is included in a triple net lease?
#28. Who is typically responsible for preparing the budget for a new commercial condominium?
#29. Matthew’s offer includes a condition for the sale of his current home within 30 days. What happens if this condition is not met?
#30. What is the primary function of the Condominium Authority Tribunal?
#31. What is required of a landlord when adding or modifying a rental unit?
#32. What information is typically included in a commercial lease agreement?
#33. James’s brokerage is preparing a counteroffer on his behalf. What should James ensure?
#34. What is the function of a status certificate?
#35. Lucas is selling his property and wants to ensure a quick sale. What should he consider?
#36. Isabella’s offer was accepted but the completion date needs to be extended. What should she do?
#37. What is a reserve fund in a condominium corporation used for?
#38. What must a developer provide to a buyer when selling a new condominium unit?
#39. Laura’s brokerage failed to disclose a material fact about a property she purchased. What can she do?
#40. Can a landlord charge a pet deposit in addition to the security deposit?
#41. How does the Municipal Act impact real estate salespersons?
#42. What should a salesperson ensure when adding additional terms to the standard lease?
#43. What should be included in a property showing package for a buyer?
#44. According to the Planning Act, what is the impact of an official plan on land development?
#45. Tom is leasing an industrial property and needs to ensure the building can support his heavy equipment. What should he check?
#46. What right does a tenant have if the landlord fails to make necessary repairs?
#47. Mark is buying a home and wants to make an informed decision. What should he ask his brokerage to provide?
#48. Why is it important to adhere to advertising regulations in real estate?
#49. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#50. A new condominium owner wants to know their voting rights. What should they be informed about?
Results
Congratulations!
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!
We’re Sorry
Unfortunately, you did not pass the Practice Ontario Real Estate License Practice Exam this time. Don’t be discouraged; this is an opportunity to identify areas where you need further study and improvement. Review the materials, focus on your weak points, and try again. Your persistence and effort will lead you to success. Keep going!
No responses yet