Prepare for your Section 1 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 does the Family Law Act primarily address in the context of real estate?
#2. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#3. What does REBBA regulate regarding brokerage trust accounts?
#4. How does REBBA define the responsibilities of a broker of record with regard to compliance?
#5. How does the Municipal Act impact real estate salespersons?
#6. What is required when an amendment to an agreement is not accepted?
#7. What action can RECO take if a brokerage fails to maintain proper records as per REBBA?
#8. How does the Municipal Act impact real estate salespersons?
#9. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#10. What is the maximum number of days a real estate professional has to correct a misleading advertisement?
#11. What does the Family Law Act primarily address in the context of real estate?
#12. Why is it important for real estate advertisements to be clear and not misleading?
#13. What should be the first step if a real estate professional is accused of an ethics violation?
#14. What is the purpose of a home inspection?
#15. What should be done if a real estate professional changes brokerages?
#16. How long does a real estate professional have to report a criminal conviction to the regulatory body?
#17. What is required under REBBA for a brokerage when there is a change in the broker of record?
#18. What role does the Electronic Commerce Act play in real estate transactions?
#19. How does REBBA define the responsibilities of a broker of record with regard to compliance?
#20. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#21. According to the Planning Act, what is the impact of an official plan on land development?
#22. What is required under REBBA for a brokerage when there is a change in the broker of record?
#23. Which document is required to terminate a binding agreement?
#24. What kind of training does REBBA mandate for all registered brokers and salespersons?
#25. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#26. Why is it important to adhere to advertising regulations in real estate?
#27. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#28. What should a salesperson do if a buyer wants to include an escalation clause in an offer?
#29. What action can RECO take if a brokerage fails to maintain proper records as per REBBA?
#30. How long must a real estate professional keep records of transactions?
#31. What action can RECO take if a brokerage fails to maintain proper records as per REBBA?
#32. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#33. What is the purpose of the Personal Information Protection and Electronic Documents Act (PIPEDA) in real estate?
#34. What is required for a real estate professional to reinstate their license after suspension?
#35. What is a lease option?
#36. What action should be taken if a real estate advertisement is found to be misleading?
#37. How does REBBA define the responsibilities of a broker of record with regard to compliance?
#38. What are the obligations under REBBA regarding the advertising of real estate services?
#39. What does REBBA regulate regarding brokerage trust accounts?
#40. What should a salesperson do if a property has an encroachment?
#41. What type of information is prohibited in real estate advertising?
#42. What is considered a violation of the code of ethics in real estate advertising?
#43. What is the primary role of REBBA in real estate regulation?
#44. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#45. Under REBBA, what financial practice must brokerages adhere to with respect to client funds?
#46. Under REBBA, which body is primarily responsible for enforcing the Code of Ethics?
#47. What kind of training does REBBA mandate for all registered brokers and salespersons?
#48. What action can RECO take if a brokerage fails to maintain proper records as per REBBA?
#49. How can a salesperson help a buyer understand the local market?
Results
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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!
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