HUMBER EXAM PACKAGE DEAL WITH COMPLETE SOLUTIONS.

Define a 'Dwelling Unit' - Answer-A self-contained housing unit with one or more habitable rooms containing at minimum a kitchen, bathroom facilities and an exit from the building. What is the difference between a semi-detached structure and a vertically divided duplex? - Answer-- A duplex is u...

How does electrical service enter a building? - Answer-From the street via the electrical service entrance cable into the electrical main disconnect, where it can be shut off. From there it goes to the Distribution panel and gets sent through circuits to various outlets, where appliances can be p...

What's the name of the primitive system used for measuring land in Europe and Ontario? - Answer-Chain and link system (aka Gunter's Chain) Who divided Ontario into counties in the 1700s? - Answer-Governor Simcoe Counties were divided into smaller parcels of land called _____________ - Answer-To...

What are some examples of common expenses that a seller may incur in a typical real estate transaction? - Answer-- Home stager - Lender (i.e. a cost associated with discharging a mortgage early) - Surveyor - Lawyer - HST or capital gains tax - Moving expenses What tasks will a lawyer complete...

Define 'Frontage' - Answer-The side of the street that abuts or borders a public street or highway - except for waterfront properties which is considered the side that border the body of water. Define 'Lot Depth' - Answer-The distance between the front and the rear lot lines. Define 'Lot Wid...

What is the difference between a 'Patent Defect' and a 'Latent Defect'? - Answer-A 'Patent Defect' is observable by the untrained eye. A 'Latent Defect' is not readily observable to the untrained eye during the reasonable inspection of a property. What is the most severe type of latent d...

What is considered the 'Offer Date'? - Answer-When an offer is drafted, not signed. Does the date of an offer change? - Answer-No. Even if terms are changed on a following day and the offer is re-submitted, the offer date remains the same. What are the minimum requirements of using a legal name...

Condominium owners hold ______ to their private living space (unit) and share ownership jointly of the common areas (common elements) with other owners in the condominium corporation. - Answer-Title What is the definition of a 'Condominium Corporation'? - Answer-A legal entity that represents th...

What 4 things must be specified on both representation and customer service agreements? - Answer-- The effective date and expiry date of the agreement (can only be one expiry date) - The method for calculating commission or other remuneration payable to the brokerage (in the case of a seller, the...

Under Ontario law, how is an 'agency relationship' defined? - Answer-The relationship between two parties in which one party (the agent) accepts responsibility for representing the other party (the principal) in dealing with a third party. While common law uses the terms 'Principal' and 'Thi...

If after reviewing a commercial agreement of purchase and sale, your client still has areas they don't understand, what should you do? - Answer-If you are unable to address these areas satisfactorily, you may need to conduct a further review with a lawyer or other third-party experts. Note: You ...

Real Estate and Business Brokers Act (REBBA) - Answer-- regulates real estate trading - Ministry of Government & Consumer Services is responsible for it - RECO enforces it - provides a framework for the regulation of the profession to protect consumers & ensure integrity of interactions is uphel...

Evolution - Answer-Change in the inherited traits in a population of organisms over time. Ecology - Answer-How organisms interact with each other and the environment Natural selection - Answer-A natural process resulting in the evolution of organisms best adapted to the environment. Theory of ev...

What does REBBA stand for? - Answer-Real Estate and Business Brokers Act Whose role is it to enforce REBBA? - Answer-RECO Purpose of REBBA? - Answer-provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the integrity of real estate transac...