Residential Real Estate Transactions - Test 02

The test comprises 200 multiple-choice questions, all drawn from the official course materials that cover a broad range of topics such as agreements of purchase and sale, marketing properties, calculations, and financing. The test is designed to assess students’ comprehension of and familiarity with such crucial topics, ensuring that candidates have the necessary knowledge and skills to succeed in their prospective field. Passing the Ontario Residential Real Estate Transactions Test can be challenging, but with good preparation and a thorough understanding of the official course materials, aspiring real estate agents can increase their chances of passing the exam with flying colors.


Residential Real Estate Transactions - Practice Test 02

Ontario Residential Real Estate Transactions - Course 2

1 / 30

A "Fee simple estate" provides…?

2 / 30

Which of these requirements must supersede the others for a salesperson?

3 / 30

The bylaws of a condominium corporation are not valid unless they are voted for by…?

4 / 30

Restrictive covenants…?

5 / 30

The official plan for a municipality must be reviewed how often?

6 / 30

Amendments to a seller representation agreement require…?

7 / 30

Which of these should a salesperson consider when deciding on the best interests of a seller?

8 / 30

Which of these might lead to the requirement to extend the listing period?

9 / 30

Which of these would be described as a "latent defect"?

10 / 30

A rezoning application may not be accepted if the municipality has passed a new comprehensive zoning bylaw within the past…?

11 / 30

When it comes to the negotiating process, a salesperson should…?

12 / 30

Which of these could have a significant influence on the property a buyer chooses?

13 / 30

Which of these would not form part of a common element condominium?

14 / 30

Which of these could be described as creating a "stigma" for a property?

15 / 30

How long a "sold" sign can remain on a property after it has been sold is decided by…?

16 / 30

If a seller is non-resident or buying a property as an investment, the salesperson should inform them about their...?

17 / 30

If a listing agreement is cancelled, the holdover provisions…?

18 / 30

Approval of Land Severance must be obtained if an owner wishes to divide their land into a maximum of how many parcels?

19 / 30

In a "two storey" property, the living area…?

20 / 30

In a land lease arrangement, a person wishing to sell the property they have on the land must give the landlord how long to decide whether they wish to exercise their right of first refusal when they receive an offer?

21 / 30

A buyer may be liable for HST if the property they are buying is…?

22 / 30

When a buyer is a customer rather than a client, the salesperson should…?

23 / 30

Townhouses comprise a minimum of how many units?

24 / 30

In which of these conditions might a salesperson advise a seller to negotiate for higher prices and/or hold out for unconditional offers?

25 / 30

If one landowner has an easement over your land, that makes you…?

26 / 30

The only persons authorised to sign the Assignment of Buyer Representation Agreement are...?

27 / 30

If the Ontario Heritage Trust decides to designate a property as a heritage property, the owner has how long to appeal that decision?

28 / 30

Owners may not be able to exercise all natural rights on the property if it is…?

29 / 30

Which of these is not covered by the monthly fee paid by members of a condominium?

30 / 30

The "Right of eminent domain" gives the right to acquire private property compulsorily on payment of fair compensation to…?

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