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. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#2. What is the correct course of action for a salesperson if a property has an unpermitted addition?
#3. Tyler’s brokerage is helping him buy a property. What should the brokerage avoid doing?
#4. What is a deed of trust?
#5. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#6. What is a dual agency situation?
#7. Laura’s brokerage failed to disclose a material fact about a property she purchased. What can she do?
#8. What is the impact of good school districts on property value?
#9. How does the Municipal Act impact real estate salespersons?
#10. What should a salesperson do if they learn that a new landfill is planned near a property they are selling?
#11. Olivia is buying a property and her brokerage is also representing the seller. What type of relationship is this?
#12. According to the Planning Act, what is the impact of an official plan on land development?
#13. According to the Planning Act, what is the impact of an official plan on land development?
#14. How can a salesperson help a seller prepare their home for sale?
#15. How does the Municipal Act impact real estate salespersons?
#16. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#17. David wants to terminate his buyer representation agreement. What should he do?
#18. What are the obligations under REBBA regarding the advertising of real estate services?
#19. What is an earnest money deposit?
#20. How should a salesperson handle a buyer’s request for a property history?
#21. What should a salesperson do if a property is overpriced?
#22. What role does the Electronic Commerce Act play in real estate transactions?
#23. What does the Family Law Act primarily address in the context of real estate?
#24. What should a salesperson do if they notice mold during a property showing?
#25. What is the primary purpose of the Statute of Frauds in real estate transactions?
#26. What is the main purpose of a title search?
#27. Who typically pays the commission to the brokerage in a real estate transaction?
#28. What is the best way to market a property in a competitive market?
#29. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#30. What should a salesperson disclose about previous renovations?
#31. What is the impact of high property taxes on property sales?
#32. Emma is buying a house and wants her brokerage to keep her information confidential. What should she do?
#33. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#34. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#35. What are the obligations under REBBA regarding the advertising of real estate services?
#36. What is a buyer representation agreement?
#37. What is a short sale?
#38. What is the role of a mortgage broker?
#39. What is the benefit of a pre-approval letter for a buyer?
#40. What are the obligations under REBBA regarding the advertising of real estate services?
#41. What role does the Electronic Commerce Act play in real estate transactions?
#42. What should a seller disclose to their brokerage?
#43. Sophia’s brokerage has multiple offers on her property. How should the brokerage handle this?
#44. What is a common reason for a real estate deal to fall through?
#45. How can a salesperson help a buyer understand the local market?
#46. What is the purpose of a final walk-through?
#47. How does the Municipal Act impact real estate salespersons?
#48. How should a salesperson handle offers during a multiple offer situation?
#49. What is a contingency in a real estate contract?
#50. What is the primary purpose of the Statute of Frauds in real estate transactions?
Results
Congratulations!
You have successfully passed the Practice Ontario Real Estate License Practice Exam. Your hard work and dedication have paid off, and you’re one step closer to achieving your goal of becoming a real estate professional. Keep up the great work as you prepare for the official exam. Well done!
We’re Sorry
Unfortunately, you did not pass the Practice Ontario Real Estate License Practice Exam this time. Don’t be discouraged; this is an opportunity to identify areas where you need further study and improvement. Review the materials, focus on your weak points, and try again. Your persistence and effort will lead you to success. Keep going!
No responses yet