Residential Real Estate Transactions - Test 05

The 200 multiple-choice questions, all derived from official course material, cover the full spectrum of topics essential for ensuring the successful completion of real estate transactions in Ontario. These topics include legal and regulatory frameworks, relevant documentation, property management, and ethical considerations, among many others. While passing this test with flying colors is indeed an accomplishment, the real value comes from the thorough preparation it demands. Aspiring real estate agents must commit to investing the necessary time and effort into studying the course materials in-depth and accessing additional resources to sharpen their knowledge and skills. Nonetheless, the payoff can be significant, not only in terms of receiving accreditation but also in gaining the competence and confidence required to excel in the Ontario real estate market.


Residential Real Estate Transactions - Practice Test 05

Ontario Residential Real Estate Transactions - Course 2

1 / 30

Which of these properties will often provide the best value for a buyer?

2 / 30

In a "mere posting" agreement, a brokerage only…?

3 / 30

A brokerage website must clearly exhibit…?

4 / 30

Which of these is it not permitted for an unregistered assistant to do at an open house?

5 / 30

If a seller wants all offers presented at a specific date and time, the salesperson/broker should…?

6 / 30

A Comparative Market Analysis shows a seller how their property ranks in comparison with similar properties that are on sale, have sold, or were listed but expired in the previous…?

7 / 30

The "direct comparison approach" to valuation works best when…?

8 / 30

A salesperson may leave an open house event when it is in progress…?

9 / 30

An advertising statement that is not complete enough for someone to understand its truth is known as…?

10 / 30

Detailed information about a property being listed is contained on its…?

11 / 30

In advertising, only members of CREO may use the trademark…?

12 / 30

The "income approach" to valuation is most appropriate when used on…?

13 / 30

The "cost approach" to estimating value cannot be used to value…?

14 / 30

Which of these is not one of REBBA's four minimum standards for advertising?

15 / 30

Which of these must be considered when setting a reasonable listing price for a property?

16 / 30

When taking photographs for a listing, a salesperson should…?

17 / 30

A registrant may not describe themselves in a property advertisement as…?

18 / 30

The "cost approach" to estimating value may not work well with…?

19 / 30

A valuation should focus on the value of a property when used in a way that…?

20 / 30

The process of selecting one value estimate from two or more estimates is known as…?

21 / 30

Home staging professionals are used to do what?

22 / 30

Farming in the neighbourhood refers to…?

23 / 30

If during an open house a buyer who is the client of another brokerage wishes to make an offer, the salesperson must…?

24 / 30

Overpricing a property for sale may result in…?

25 / 30

The placement of open house signs must be…?

26 / 30

The source documents for the legal description on the data sheet are…?

27 / 30

A la carte remuneration means that the seller is offered…?

28 / 30

Distributing flyers advertising that a property has been sold...?

29 / 30

Personal information about a seller can be included in the advertisement for their property…?

30 / 30

When calculating time adjustment for comparable valuation, the value is nil if the comparable property being used for valuation was sold within the previous…?

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