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. What is a property deed?
#2. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#3. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#4. What is the function of a deed?
#5. What is the primary purpose of the Statute of Frauds in real estate transactions?
#6. What is a closing disclosure?
#7. What is an appraisal contingency?
#8. What should a salesperson do if they suspect a property has lead paint?
#9. How should a salesperson handle a situation where a property has been on the market for a long time?
#10. What should a buyer consider when choosing a brokerage?
#11. What is the primary benefit of a fixed-rate mortgage?
#12. What is the importance of a comparative market analysis (CMA)?
#13. How can a salesperson assist a first-time homebuyer?
#14. What is the primary purpose of the Statute of Frauds in real estate transactions?
#15. What is the role of a brokerage in a real estate transaction under REBBA?
#16. According to the Planning Act, what is the impact of an official plan on land development?
#17. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#18. Sophia wants to rent her property instead of selling it. What should she discuss with her brokerage?
#19. How can a salesperson help a seller set the right asking price?
#20. What is a contingency in a real estate contract?
#21. Mark is buying a home and wants to make an informed decision. What should he ask his brokerage to provide?
#22. How does the Municipal Act impact real estate salespersons?
#23. What is a key factor to consider when buying an investment property?
#24. What does the Family Law Act primarily address in the context of real estate?
#25. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#26. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#27. What is the role of curb appeal in selling a property?
#28. What is the primary purpose of the Statute of Frauds in real estate transactions?
#29. How can a salesperson assist a client in determining a competitive offer price?
#30. What should a salesperson do if they learn that a new landfill is planned near a property they are selling?
#31. When is a real estate transaction considered closed?
#32. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#33. James’s brokerage is preparing a counteroffer on his behalf. What should James ensure?
#34. What is the best strategy for pricing a home to sell quickly?
#35. Sophia’s brokerage has multiple offers on her property. How should the brokerage handle this?
#36. Why is location important in real estate?
#37. What role does the Electronic Commerce Act play in real estate transactions?
#38. How should a salesperson respond if a buyer finds a significant issue during the home inspection?
#39. Who is responsible for providing accurate information about a property?
#40. David wants to terminate his buyer representation agreement. What should he do?
#41. What should a salesperson do if a buyer wants to make an offer below market value?
#42. What role does the Electronic Commerce Act play in real estate transactions?
#43. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#44. How can market trends influence real estate negotiations?
#45. What does the Family Law Act primarily address in the context of real estate?
#46. What does ‘under contract’ mean in real estate?
#47. How does the Municipal Act impact real estate salespersons?
#48. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#49. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#50. What is a dual agency?
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