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 does the Family Law Act primarily address in the context of real estate?
#2. What is a contingency in real estate?
#3. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#4. What should a buyer consider when choosing a brokerage?
#5. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#6. What is a common issue found during home inspections?
#7. What are the obligations under REBBA regarding the advertising of real estate services?
#8. What is a common contingency in a real estate contract?
#9. Mark is buying a home and wants to make an informed decision. What should he ask his brokerage to provide?
#10. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#11. Henry's brokerage is handling both the sale and the purchase of properties for him. What should Henry ensure?
#12. What should a salesperson disclose about previous renovations?
#13. What is the role of a home appraiser?
#14. How does the Municipal Act impact real estate salespersons?
#15. What is a dual agency?
#16. What is a contingency in a real estate contract?
#17. How can a salesperson assist a client in determining a competitive offer price?
#18. What should a salesperson do if a property has an encroachment?
#19. How does the Municipal Act impact real estate salespersons?
#20. What is the primary purpose of an open house?
#21. Isabella received an offer on her property but is unsure if it's fair. What should she ask her brokerage?
#22. What should a salesperson do if a buyer is interested in a property that is in foreclosure?
#23. What should a salesperson do if a property is overpriced?
#24. What should a salesperson do if they suspect a property has lead paint?
#25. What is an adjustable-rate mortgage (ARM)?
#26. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#27. How can staging affect the sale of a property?
#28. What role does the Electronic Commerce Act play in real estate transactions?
#29. How can market trends influence real estate negotiations?
#30. Scenario: A couple is divorcing and needs to divide their property. Which legislation provides guidelines for this process?
#31. How should a salesperson handle a situation where a property has been on the market for a long time?
#32. What does 'contingent' mean in a real estate listing?
#33. Scenario: A salesperson fails to disclose a significant dual agency relationship. What legislation does this breach?
#34. What is the purpose of title insurance?
#35. How does the Municipal Act impact real estate salespersons?
#36. Tyler's brokerage is helping him buy a property. What should the brokerage avoid doing?
#37. How can a salesperson help a seller prepare their home for sale?
#38. How should a salesperson handle offers during a multiple offer situation?
#39. What are the obligations under REBBA regarding the advertising of real estate services?
#40. Scenario: A developer wants to change the zoning of a property. Which act regulates this process?
#41. Under the Vendors and Purchasers Act, who is responsible for the costs of registering the transfer/deed?
#42. What are the obligations under REBBA regarding the advertising of real estate services?
#43. What is the benefit of a pre-approval letter for a buyer?
#44. What is the purpose of a home inspection?
#45. What should a salesperson do if a seller wants to hide a defect?
#46. What is the primary purpose of the Statute of Frauds in real estate transactions?
#47. What is the primary purpose of a real estate contract?
#48. What is a balloon mortgage?
#49. How does the Municipal Act impact real estate salespersons?
#50. Kevin is unsure about signing a listing agreement. What should he do?
Results
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