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. A new condominium owner wants to know their voting rights. What should they be informed about?
#2. What is the significance of including a condition in the offer?
#3. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#4. A buyer asks about the declaration document. What should the salesperson explain?
#5. When is a mutual release used in a leasing context?
#6. Scenario: A brokerage is found not keeping proper sales records as per REBBA regulations. What action can RECO take?
#7. What are the obligations under REBBA regarding the advertising of real estate services?
#8. What is a dual agency situation?
#9. How long must a real estate professional keep records of transactions?
#10. What is a common penalty for serious ethical violations in real estate?
#11. What should be done if a commercial property has an environmental issue?
#12. A buyer is interested in a resale condominium. What should they do before finalizing the purchase?
#13. Mia wants to include her refrigerator in the sale. How should this be documented?
#14. How often must real estate professionals complete continuing education?
#15. What must be included in the declaration of a commercial condominium?
#16. Why is it important to review the financial statements of a commercial property?
#17. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#18. What is a profit and loss statement?
#19. Why is it important to assess transportation routes for commercial properties?
#20. What is a reserve fund in a condominium corporation used for?
#21. What is the role of the real estate regulatory body?
#22. How often must smoke alarms be tested in rental units?
#23. George received an offer with a very high deposit. What might this indicate about the buyer?
#24. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#25. What is a deed of trust?
#26. What kind of training does REBBA mandate for all registered brokers and salespersons?
#27. Who must sign the offer for it to be legally binding?
#28. What is an appraisal contingency?
#29. What is the impact of interest rates on the real estate market?
#30. What is the role of a listing salesperson?
#31. What is required for a change in the use of a commercial condominium unit?
#32. Lucas received a 14-day notice to pay overdue rent or face eviction. Is this notice valid?
#33. What role does the Electronic Commerce Act play in real estate transactions?
#34. Rachel’s offer was accepted but she needs more time to arrange financing. What should she do?
#35. What role does the Electronic Commerce Act play in real estate transactions?
#36. What should a salesperson do if they learn about undisclosed property damage?
#37. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#38. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#39. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#40. What is the purpose of a status certificate in a commercial condominium?
#41. Rachel is a first-time homebuyer. What should her brokerage provide?
#42. What is the role of a mutual release in a real estate transaction?
#43. What is the standard notice period a tenant must give to terminate a fixed-term lease early?
#44. What role does the Electronic Commerce Act play in real estate transactions?
#45. What is the function of a status certificate?
#46. A buyer wants to make changes to their unit that affect common elements. What is required?
#47. What is the purpose of REBBA’s Code of Ethics?
#48. What is the main difference between commercial and residential condominiums in terms of governance?
#49. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#50. What does the Family Law Act primarily address in the context of real estate?
Results
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