Prepare for your Section 5 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 is a key factor in valuing a business?
#2. What does REBBA stand for?
#3. What is a key factor in determining the rent for a commercial property?
#4. What should a buyer consider about the term of the lease?
#5. Why is it important to verify the square footage of a commercial property?
#6. What is the significance of a Record of Site Condition (RSC)?
#7. What is a conditional offer?
#8. Why is it important to review local market conditions before leasing a commercial property?
#9. How often must real estate professionals complete continuing education?
#10. What is a common element in the sale of a business?
#11. What is a profit and loss statement?
#12. What is a common use for industrial properties?
#13. Why is it important for real estate advertisements to be clear and not misleading?
#14. Why is it important to verify the tenant’s business credit history?
#15. What is the role of a listing salesperson?
#16. What should be included in a marketing plan for selling a business?
#17. What information is typically included in a commercial lease agreement?
#18. Why is tenant mix important in a commercial property?
#19. When should a confidentiality agreement be used?
#20. What is a key factor in determining the location of a commercial property?
#21. What should be included in a property showing package for a buyer?
#22. Why is it important to assess transportation routes for commercial properties?
#23. Who is responsible for providing the lease agreement in a business sale?
#24. What is the result of a disciplinary action if a violation is proven?
#25. What should a salesperson do if they learn about undisclosed property damage?
#26. What should a salesperson do if a tenant requests modifications to the lease terms?
#27. What is a common requirement for leasing office space?
#28. What is the significance of a profit and loss statement for a buyer?
#29. What is a balance sheet?
#30. How can a salesperson confirm zoning regulations for a commercial property?
#31. What is the penalty for failing to disclose a conflict of interest?
#32. What must be included in all real estate advertisements?
#33. What is a leading practice when preparing to show a commercial property?
#34. Why is it important to understand the tenant mix in a commercial property?
#35. What should a buyer’s salesperson obtain from a seller?
#36. What does a balance sheet summarize?
#37. What is the significance of a property’s zoning classification?
#38. What is the purpose of a confidentiality agreement?
#39. What is a share sale?
#40. What is the difference between audited and unaudited statements?
#41. What is a notice to reader report?
#42. How soon must a real estate professional notify the regulatory body of any legal action taken against them?
#43. What must be considered when leasing a retail property?
#44. What should be included in a due diligence checklist for a commercial lease?
#45. Why should a salesperson understand the business operations of a potential tenant?
#46. What is the purpose of a status certificate in a commercial condominium?
#47. What is the purpose of a site visit before leasing a commercial property?
#48. What should be done if a real estate professional changes brokerages?
#49. What type of advertising is prohibited in real estate?
#50. Why is it important to understand the leasehold improvements required by a tenant?
Results
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