Ontario Real Estate Essentials Test 05

Real Estate Essentials - Test 05

If you are preparing for the Ontario Real Estate Essentials Test, you are in the right place. With our online practice tests, you can get an accurate understanding of the exam format and question types. The test assesses your knowledge of real estate laws, principles, and practices in Ontario. It covers various topics, including property ownership, mortgages, financing, and contracts. By taking advantage of our free practice tests, you can gain an edge over other candidates and increase your chances of passing the test on your first attempt. In addition to providing a simulated testing environment, our practice tests also come with detailed explanations of correct answers, allowing you to learn from your mistakes and refine your knowledge.

Real Estate Essentials - Practice Test 05

Ontario Real Estate Essentials - Course 1

1 / 30

A Local Planning Appeals Tribunal (LPAT) is responsible for hearing…?

The first appeal in a planning related matter

The first and second appeal in a planning related matter

All appeals in a planning related matter

Preliminary appeals in a planning related matter

2 / 30

Damages are only payable for breach of contract if…?

Potential financial losses can be proven

Any of these

Actual financial loss can be proven

Damage to feelings or emotions can be proven

3 / 30

In terms of "for sale", "open house" and "sold" signs, which of these is controlled by zoning bylaws?

Colour of sign

Material of sign

Wording of sign

Size of sign

4 / 30

The consideration in a contract which makes it binding may not be…?

A past consideration

Any of these

Future consideration

A present consideration

5 / 30

Provincial policy statements address planning matters of public interest and are reviewed every…?

Seven years

Two years

Three years

Five years

6 / 30

Which of these falls under zoning bylaws?

Permitted usage

Parking requirements

All of them

Building height

7 / 30

Which of these would count as sensitive personal information rather than just personal information?

A person's mental condition

A person's marital status

A person's date of birth

A person's residential address

8 / 30

If both parties agree to terminate a contract, the contract is terminated by…?

Unavoidable agreement

Common agreement

Shared agreement

Mutual agreement

9 / 30

If the owner of a plot wishes to divide it up into two plots, they must apply to the local municipality for approval of…?

Land division

Land rezoning

Land severance

Land repurposing

10 / 30

If an owner or buyer wishes to make a use of their property that is not permitted in existing zoning bylaws, they may apply to their local committee of…?

Exemption

Variation

Modification

Adjustment

11 / 30

When an owner applies for land severance, the approval body must give its decision within…?

90 days

15 days

180 days

45 days

12 / 30

A contract is terminated by "frustration" when…?

Unexpected events occur which make it impossible to fulfil the contract

One party decides that the other is taking too long to fulfil the contract

Both parties agree that it is too frustrating to continue the contract

One party decides that it is too much effort to fulfil the contract

13 / 30

Rescission means that a contract…?

Is revoked or cancelled

Must be fulfilled

Has no validity

Is illegal

14 / 30

Electronic signatures may only be used in a transaction if…?

The buyer and the broker agreed to them

There is no alternative

All parties agree to them

The seller and the broker agreed to them

15 / 30

If a landowner is granted land severance with conditional consent, they usually have how long to fulfil the conditions set?

One year

Two years

Three years

Six months

16 / 30

Which of these assumes all responsibilities under the Municipal Act?

A Single Tier Municipality

None of these

A Lower Tier Municipality

An Upper Tier Municipality

17 / 30

If one spouse is the registered owner of a matrimonial home and the other is not, they may not dispose of it, mortgage or income rate without…?

Written consent of the non-owner spouse

Proof that they are the only one on the title

A court order

Proof that the marriage is irretrievably broken

18 / 30

A "common mistake" in a contract occurs when…?

The seller is aware of an underlying fundamental fact about the property/transaction but not the buyer

All of these

The buyer is aware of an underlying fundamental fact about the property/transaction but not the seller

Both parties are unaware of an underlying fundamental fact about the property/transaction

19 / 30

A contract for land will be generally avoidable, sometimes void or never binding if the contract is made with a person under what age?

20 / 30

A contract does not need a consideration element if it is signed under…?

Exceptional circumstances

Seal

Court overview

Agreement

21 / 30

Salespersons must witness electronic signatures and ensure that what is added to them?

Location

Address of all participants

Declaration of free will

Date and time

22 / 30

Which of these Canadian cities is governed under a specific Act of Parliament rather than the Municipal Act?

Toronto

Montréal

Calgary

Vancouver

23 / 30

The Official Plan for a municipality may extend up to how far in the future?

20 years

25 years

10 years

15 years

24 / 30

In breach of contract cases, a court may recommend a specific performance remedy, which is what?

An order that partial compensation must be paid

An order that the full value of the contract must be paid

An order that no compensation is owing

An order that the contract must be fulfilled

25 / 30

A patent defect in a property is one that…?

Is not readily visible upon reasonable vigilance/inspection

Is readily visible upon reasonable vigilance/inspection

Renders a property unfit for habitation

Renders a property dangerous

26 / 30

All electronic documents held by a brokerage must be…?

Accessible to all staff of the brokerage

Protected by strong passwords

Held on dedicated separate hard drives

Also held in hard copy elsewhere

27 / 30

Breach-of-contract occurs when…?

The contract is terminated by a third party

Both parties agree to terminate the contract

One party decides to terminate the contract

One party fails to fulfil its obligations under the contract

28 / 30

The Family Law Act provides similar rights for common-law spouses as for married spouses as long as the couple have lived together for…?

Five years plus

Seven years plus

Nine years plus

Three years plus

29 / 30

A Subdivision Plan registration is usually required when a landowner wants to divide their land into more than…?

Two lots

Four lots

Five lots

Three lots

30 / 30

Both spouses have equal right of possession of a matrimonial home…?

Under all circumstances

As long as they are both on the title

As long as they are not separated

As long as a contract exists to prove this

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