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. Tyler’s brokerage is helping him buy a property. What should the brokerage avoid doing?
#2. What is the role of a brokerage in a real estate transaction under REBBA?
#3. What should a salesperson do if a property appraisal comes in lower than the offer price?
#4. What should a salesperson do if they learn that a new landfill is planned near a property they are selling?
#5. Mark is buying a home and wants to make an informed decision. What should he ask his brokerage to provide?
#6. What is the impact of interest rates on the real estate market?
#7. How can market trends influence real estate negotiations?
#8. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#9. What is the purpose of title insurance?
#10. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#11. How can staging affect the sale of a property?
#12. Sophia wants to rent her property instead of selling it. What should she discuss with her brokerage?
#13. How can a salesperson assist a first-time homebuyer?
#14. According to the Planning Act, what is the impact of an official plan on land development?
#15. How should a salesperson respond if a buyer finds a significant issue during the home inspection?
#16. Why is location important in real estate?
#17. How can a buyer ensure they are working with a licensed brokerage?
#18. What is the primary benefit of a fixed-rate mortgage?
#19. What obligations does a salesperson have when handling a property sale with known environmental issues?
#20. Grace wants to invest in rental properties. What should her brokerage provide?
#21. How does the Municipal Act impact real estate salespersons?
#22. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#23. What is a dual agency?
#24. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#25. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#26. When is a real estate transaction considered closed?
#27. Anna wants to know if a brokerage has any complaints against them. Where should she check?
#28. What are the obligations under REBBA regarding the advertising of real estate services?
#29. What is the primary purpose of the Statute of Frauds in real estate transactions?
#30. What role does the Electronic Commerce Act play in real estate transactions?
#31. How can a salesperson help a seller set the right asking price?
#32. What does the Family Law Act primarily address in the context of real estate?
#33. What is a buyer representation agreement?
#34. What is the purpose of a final walk-through?
#35. What is the best strategy for pricing a home to sell quickly?
#36. What is the importance of a comparative market analysis (CMA)?
#37. David wants to terminate his buyer representation agreement. What should he do?
#38. What is a contingency in a real estate contract?
#39. What is the role of curb appeal in selling a property?
#40. What does the Family Law Act primarily address in the context of real estate?
#41. What is a deed of trust?
#42. What is a common contingency in a real estate contract?
#43. What is an escrow account used for?
#44. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#45. What is a lien?
#46. What is the purpose of a listing agreement?
#47. What are the obligations under REBBA regarding the advertising of real estate services?
#48. What is a lease option?
#49. James’s brokerage is preparing a counteroffer on his behalf. What should James ensure?
#50. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
Results
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