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. Who must ensure compliance with REBBA within a brokerage?
#2. How long does a real estate professional have to report a criminal conviction to the regulatory body?
#3. What must be included in an amendment to an agreement of purchase and sale?
#4. How does REBBA define the responsibilities of a broker of record with regard to compliance?
#5. Scenario: A brokerage is found not keeping proper sales records as per REBBA regulations. What action can RECO take?
#6. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#7. What is required under REBBA for a brokerage when there is a change in the broker of record?
#8. Which form is used to identify the fulfillment of a condition in an agreement?
#9. What is an appraisal contingency?
#10. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#11. What is the consequence of advertising a property without the owner's consent?
#12. What is required under REBBA for a brokerage when there is a change in the broker of record?
#13. How many days does a real estate professional have to respond to a complaint?
#14. What is required under REBBA for a brokerage when there is a change in the broker of record?
#15. Under REBBA, what financial practice must brokerages adhere to with respect to client funds?
#16. Who oversees the discipline process for real estate professionals?
#17. What role does the Electronic Commerce Act play in real estate transactions?
#18. What is considered a violation of the code of ethics in real estate advertising?
#19. What does REBBA regulate regarding brokerage trust accounts?
#20. What is a disciplinary hearing in real estate?
#21. What should be the first step if a real estate professional is accused of an ethics violation?
#22. What action can RECO take if a brokerage fails to maintain proper records as per REBBA?
#23. What does REBBA regulate regarding brokerage trust accounts?
#24. What should a real estate professional do if they discover a colleague's unethical behavior?
#25. What is the primary role of REBBA in real estate regulation?
#26. How does REBBA define the responsibilities of a broker of record with regard to compliance?
#27. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#28. Under REBBA, what financial practice must brokerages adhere to with respect to client funds?
#29. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#30. What is a lease option?
#31. Why is it important to adhere to advertising regulations in real estate?
#32. According to the Planning Act, what is the impact of an official plan on land development?
#33. How should a salesperson handle a complaint about their professional conduct?
#34. What does 'contingent' mean in a real estate listing?
#35. What is the purpose of a waiver in a real estate transaction?
#36. What role does the Electronic Commerce Act play in real estate transactions?
#37. What is the purpose of a code of ethics in real estate?
#38. What action should be taken if a real estate advertisement is found to be misleading?
#39. How often must real estate professionals complete continuing education?
#40. According to REBBA, what is mandatory for maintaining a salesperson’s registration?
#41. What is the impact of interest rates on the real estate market?
#42. How soon must a real estate professional notify the regulatory body of any legal action taken against them?
#43. What role does the Electronic Commerce Act play in real estate transactions?
#44. What action can RECO take if a brokerage fails to maintain proper records as per REBBA?
#45. According to the Planning Act, what is the impact of an official plan on land development?
#46. How does the Municipal Act impact real estate salespersons?
#47. What is the importance of documenting all communications with clients?
#48. Who ensures that a brokerage complies with REBBA?
#49. What is the purpose of title insurance?
Results
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