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 the main purpose of a tenant fit-up?
#2. Anna’s landlord gave her a 60-day notice to vacate for a major renovation. Is this notice period sufficient?
#3. What action can RECO take if a brokerage fails to maintain proper records as per REBBA?
#4. What does the Condominium Act regulate?
#5. A buyer is interested in a unit in a freehold – phased condominium. What should they be aware of?
#6. What is the primary purpose of the Condominium Authority Tribunal?
#7. Scenario: A salesperson fails to disclose a conflict of interest. Under REBBA, what is the likely consequence?
#8. How is the proportion of common expense fees determined for each unit?
#9. Who must sign a confidentiality agreement?
#10. What are the obligations under REBBA regarding the advertising of real estate services?
#11. What document should a buyer review to understand the governance of a commercial condominium?
#12. What is a common red flag when reviewing a rental application?
#13. David wants to terminate his buyer representation agreement. What should he do?
#14. Lucas received a 14-day notice to pay overdue rent or face eviction. Is this notice valid?
#15. What does the Condominium Management Regulatory Authority of Ontario regulate?
#16. What must a salesperson ensure when preparing a lease agreement?
#17. How can a salesperson help a buyer understand the local market?
#18. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#19. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#20. What is the purpose of Schedule A in an offer?
#21. What is a share sale?
#22. What should be included in a commercial condominium disclosure statement?
#23. What is a common requirement for leasing office space?
#24. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#25. Lucas is leasing an industrial space and needs to know the total electrical capacity. Who is responsible for providing this information?
#26. Who is responsible for insuring the common elements in a commercial condominium?
#27. What is a profit and loss statement?
#28. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#29. How can real estate professionals avoid ethical violations?
#30. Michael’s offer was accepted with conditions. Who is responsible for fulfilling these conditions?
#31. What does the Family Law Act primarily address in the context of real estate?
#32. What is the purpose of a deposit in an offer?
#33. What is a key factor in determining the rent for a commercial property?
#34. A buyer wants to add a condition that allows for a structural inspection. What is this condition called?
#35. What is a key factor in valuing a business?
#36. What is required before using client testimonials in advertising?
#37. What is the importance of the income and expense statement?
#38. What is a primary characteristic of a commercial condominium?
#39. Who ensures that a brokerage complies with REBBA?
#40. What should be included in a marketing plan for selling a business?
#41. What document is often used to collect sensitive information from prospective tenants?
#42. When must a salesperson disclose their interest in a property?
#43. Can a landlord charge a pet deposit in addition to the security deposit?
#44. What is the purpose of title insurance?
#45. What is the purpose of the Personal Information Protection and Electronic Documents Act (PIPEDA) in real estate?
#46. What should be done if a commercial property has an environmental issue?
#47. What is the role of the board of directors in a condominium corporation?
#48. What does the Family Law Act primarily address in the context of real estate?
#49. Isabella received an offer on her property but is unsure if it’s fair. What should she ask her brokerage?
#50. What is the purpose of REBBA’s Code of Ethics?
Results
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