Prepare for your Section 4 Ontario real estate license with this free comprehensive practice exam. This exam covers key topics from section four of the Ontario Real Estate License Program.
#1. Lucas received a 14-day notice to pay overdue rent or face eviction. Is this notice valid?
#2. What must a developer provide to a buyer when selling a new condominium unit?
#3. What should a tenant do if they receive an eviction notice?
#4. What is required for a change in condominium rules to become valid?
#5. When must a developer provide a disclosure statement to a potential buyer of a commercial condominium?
#6. What is a property deed?
#7. What is the role of a mortgage broker?
#8. What is an anchor tenant?
#9. What document outlines the rules and regulations of a commercial condominium?
#10. What is an appraisal contingency?
#11. What does the Condominium Management Regulatory Authority of Ontario regulate?
#12. What should be done if a deposit cheque bounces?
#13. What is a lien?
#14. Liam's landlord entered his apartment without notice while he was at work. What can Liam do?
#15. Who is responsible for maintaining common elements in a commercial condominium?
#16. Who is responsible for maintaining common elements in a condominium?
#17. How can market trends influence real estate negotiations?
#18. A buyer is concerned about the financial health of a condominium. What document should they ask for?
#19. Lucy is negotiating a lease for a restaurant in a shopping mall. She wants assurance that no other restaurants will open in the same mall. What clause should she include?
#20. Which of the following best describes a condominium corporation?
#21. Who is responsible for calling a turnover meeting in a commercial condominium?
#22. Michael received a 24-hour notice for the landlord to enter his apartment for repairs. Is this notice valid?
#23. What is the role of a home appraiser?
#24. Isabella's offer was accepted but the completion date needs to be extended. What should she do?
#25. Which of the following best describes a condominium corporation?
#26. What is the most common method of countering an offer?
#27. Who is responsible for maintaining common elements in a condominium?
#28. A buyer wants to make changes to their unit that affect common elements. What is required?
#29. What is a dual agency situation?
#30. What must be done if an offer becomes difficult to read?
#31. What is the purpose of title insurance?
#32. How long must brokerages retain documents for a successful transaction?
#33. What is the primary purpose of a real estate contract?
#34. What happens if a counter offer is not accepted?
#35. A buyer wants to make modifications to an exclusive use common element. What must they do first?
#36. David received a notice for a rent increase of 8% effective in 90 days. Is this notice valid?
#37. Laura is negotiating a lease for an office space and wants to ensure that she has enough parking spots for her employees. Where should this be detailed?
#38. Mark is leasing a retail space and the landlord requires all tenants to report their monthly sales figures. What type of lease is this likely to be?
#39. How many days' notice must a landlord give a tenant to terminate a month-to-month tenancy without cause?
#40. How often must the reserve fund study be updated?
#41. What is the primary benefit of conducting a credit check on a prospective tenant?
#42. Jackson wants to ensure that the property's fireplace is included in the sale. Where should this be documented?
#43. Liam's landlord wants to sell the house and gave him a 90-day notice to vacate. Is this notice valid?
#44. What is the role of a condominium manager?
#45. A buyer wants to understand the difference between common elements and exclusive use common elements. What is correct?
#46. Who must complete the director training program provided by the Condominium Authority of Ontario?
#47. What is the consequence of not paying common expense fees in a commercial condominium?
#48. What is the first date to be identified in an offer plan?
#49. Which type of condominium corporation allows the developer to add new units or common elements in the future?
#50. What is a condominium declaration?
Results
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