Prepare for your Section 2 Ontario real estate license with this free comprehensive practice exam. This exam covers key topics from section two of the Ontario Real Estate License Program.
#1. Emma is buying a house and wants her brokerage to keep her information confidential. What should she do?
#2. How can a salesperson assist a first-time homebuyer?
#3. How can a salesperson help a seller prepare their home for sale?
#4. Olivia is buying a property and her brokerage is also representing the seller. What type of relationship is this?
#5. What is the primary purpose of a real estate contract?
#6. How can a buyer ensure they are working with a licensed brokerage?
#7. What is the role of a home inspection in a real estate transaction?
#8. What is a lease option?
#9. How should a salesperson handle a buyer’s request for a property history?
#10. What is the primary purpose of an open house?
#11. What role does the Electronic Commerce Act play in real estate transactions?
#12. What should a salesperson do if a property has an encroachment?
#13. What are the obligations under REBBA regarding the advertising of real estate services?
#14. What role does the Electronic Commerce Act play in real estate transactions?
#15. According to the Planning Act, what is the impact of an official plan on land development?
#16. How does the Municipal Act impact real estate salespersons?
#17. What is a balloon mortgage?
#18. What is an adjustable-rate mortgage (ARM)?
#19. What is the primary purpose of the Statute of Frauds in real estate transactions?
#20. What should a salesperson do if a property appraisal comes in lower than the offer price?
#21. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#22. How can staging affect the sale of a property?
#23. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#24. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#25. What is the primary purpose of the Statute of Frauds in real estate transactions?
#26. What is a contingency in real estate?
#27. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#28. What is an escrow account used for?
#29. What is the purpose of a home inspection?
#30. Anna wants to know if a brokerage has any complaints against them. Where should she check?
#31. Grace wants to invest in rental properties. What should her brokerage provide?
#32. How should a salesperson handle a situation where a property has been on the market for a long time?
#33. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#34. What should a salesperson do if a property is overpriced?
#35. Mark is buying a home and wants to make an informed decision. What should he ask his brokerage to provide?
#36. What does the Family Law Act primarily address in the context of real estate?
#37. What is the main advantage of exclusive representation?
#38. How should a salesperson respond if a buyer finds a significant issue during the home inspection?
#39. What is the impact of good school districts on property value?
#40. What role does the Electronic Commerce Act play in real estate transactions?
#41. Sophia’s brokerage has multiple offers on her property. How should the brokerage handle this?
#42. What is the main purpose of a title search?
#43. Rachel is a first-time homebuyer. What should her brokerage provide?
#44. What should a salesperson do if they learn that a new landfill is planned near a property they are selling?
#45. What is the correct course of action for a salesperson if a property has an unpermitted addition?
#46. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#47. Lucas is selling his property and wants to ensure a quick sale. What should he consider?
#48. Who is responsible for providing accurate information about a property?
#49. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#50. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
Results
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