Prepare for your Section 1 Ontario real estate license with this free comprehensive practice exam. This exam covers key topics from section one of the Ontario Real Estate License Program.
#1. What type of advertising is prohibited in real estate?
#2. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#3. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#4. What does REBBA regulate regarding brokerage trust accounts?
#5. Who ensures that a brokerage complies with REBBA?
#6. Under REBBA, what financial practice must brokerages adhere to with respect to client funds?
#7. What does REBBA regulate regarding brokerage trust accounts?
#8. What action can RECO take if a brokerage fails to maintain proper records as per REBBA?
#9. What is required before using client testimonials in advertising?
#10. How many days does a real estate professional have to respond to a complaint?
#11. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#12. How long must a real estate professional keep records of transactions?
#13. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#14. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#15. How long does a real estate professional have to report a criminal conviction to the regulatory body?
#16. What kind of training does REBBA mandate for all registered brokers and salespersons?
#17. What does ‘contingent’ mean in a real estate listing?
#18. How does the Municipal Act impact real estate salespersons?
#19. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#20. What is the primary purpose of the Statute of Frauds in real estate transactions?
#21. Scenario: A brokerage is found not keeping proper sales records as per REBBA regulations. What action can RECO take?
#22. What should a salesperson do if a seller wants to hide a defect?
#23. What is the role of the real estate regulatory body?
#24. Who ensures that a brokerage complies with REBBA?
#25. According to the Planning Act, what is the impact of an official plan on land development?
#26. Scenario: The broker of record at a brokerage has not provided adequate training as required by REBBA. What is the potential impact on the brokerage?
#27. How does the Municipal Act impact real estate salespersons?
#28. What action can RECO take if a brokerage fails to maintain proper records as per REBBA?
#29. What is required under REBBA for a brokerage when there is a change in the broker of record?
#30. What action should be taken if a real estate advertisement is found to be misleading?
#31. Which document is required to terminate a binding agreement?
#32. What is required under REBBA for a brokerage when there is a change in the broker of record?
#33. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#34. What are the consequences under REBBA for failing to disclose conflict of interest?
#35. Which form is used to identify the fulfillment of a condition in an agreement?
#36. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#37. What kind of training does REBBA mandate for all registered brokers and salespersons?
#38. What is a property deed?
#39. What does REBBA regulate regarding brokerage trust accounts?
#40. What can be a consequence of violating the real estate code of ethics?
#41. What action can RECO take if a brokerage fails to maintain proper records as per REBBA?
#42. What does the Family Law Act primarily address in the context of real estate?
#43. What are the consequences under REBBA for failing to disclose conflict of interest?
#44. What is required under REBBA for a brokerage when there is a change in the broker of record?
#45. Who ensures that a brokerage complies with REBBA?
#46. According to the Planning Act, what is the impact of an official plan on land development?
#47. When must notice be given for the fulfillment of a condition in an agreement?
#48. What is the consequence of advertising a property without the owner’s consent?
#49. How soon must a real estate professional notify the regulatory body of any legal action taken against them?
Results
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