Residential Real Estate Transactions - Test 01

If you are looking to become a registered real estate salesperson in Ontario, passing the Ontario Residential Real Estate Transactions Test is a must. It is a comprehensive examination consisting of 200 multiple-choice questions, which cover the official course material. The test essentially assesses your understanding of Ontario’s residential real estate industry standards, laws, and procedures. To excel in the exam, you need to have a solid understanding of the various aspects of residential real estate transactions. The test covers topics such as the legal aspects of the transaction, different types of residential real estate properties, property marketing, and pricing strategies, just to name a few. The questions are designed to test your knowledge, comprehension, and analytical thinking skills. With enough preparation and practice, you can successfully clear the exam and obtain your real estate registration in Ontario.

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Residential Real Estate Transactions - Practice Test 01

Ontario Residential Real Estate Transactions - Course 2

1 / 30

Under what circumstances can a brokerage sign a contract on behalf of the client?

2 / 30

The Code of Ethics requires salespersons to treat their customers…?

3 / 30

A salesperson who wishes to communicate with the seller/buyer clients of other brokerages must do so…?

4 / 30

A seller customer service agreement is…?

5 / 30

In a real estate transaction, who is the principal?

6 / 30

Which of these is the only thing that should stop an agent placing the interest of their client above everything else?

7 / 30

When an agent acts without authority/in excess of authority but the principal accepts the benefit of such action, this is known as…?

8 / 30

The holdover period after a listing expires is…?

9 / 30

The obligation of "minimum information before agreement" obliges a brokerage to give sellers or buyers information on…?

10 / 30

When an agent is given express authority to act for a client, they may take additional actions for the benefit of the client under what is known as…?

11 / 30

The date of commencement and expiry date of an agreement must be displayed…?

12 / 30

The salesperson can help the seller estimate the market value of their property using a…?

13 / 30

In real estate, when an agent works for more than one party in a transaction this is known as…?

14 / 30

When remuneration is being charged as a flexible percentage of sale price, as the sale price rises the percentage must…?

15 / 30

A party not being represented by a brokerage but being provided limited services is known as…?

16 / 30

The monies paid by a client to a brokerage are known as…?

17 / 30

When a sub agent is engaged by the initial agent, this agent has…?

18 / 30

If an agreement does not complete due to a seller's default or neglect, the seller…?

19 / 30

A client must give written consent on an agreement next to the expiry date if that date is more than how far in the future?

20 / 30

Copies of representation agreements must be delivered upon signing…?

21 / 30

A salesperson's advice to a seller as to whether they should accept, reject or counter offers should be based on…?

22 / 30

If a situation or matter is beyond a salesperson's education or experience, they must…?

23 / 30

When an agency relationship is terminated, the agent still has an obligation to protect…?

24 / 30

A registrant may not claim to any party that remuneration is fixed by…?

25 / 30

A brokerage may only enter into a representation agreement resulting in a multiple representation situation if…?

26 / 30

If a property is a matrimonial home and only one spouse is on the title…?

27 / 30

Remuneration may be calculated as…?

28 / 30

The "holdover period" during which a client must pay remuneration to the agent if they sell their property privately begins…?

29 / 30

Which of these is an acceptable alternative to a written agreement when trading in real estate?

30 / 30

If a seller or listing brokerage fails to pay agreed remuneration, responsibility for that remuneration falls to…?

Your score is

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