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HUMBER EXAM PACKAGE DEAL WITH COMPLETE SOLUTIONS.
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[Mostrar más]Whenever a buyer assumes ownership of a condominium unit, the corporation's board of directors must 
send what to the new owner? - Answer-A New Owner Information Certificate (NOIC) 
Note: This provides new owners with the most recent Periodic Information Certificate (PIC) or the most 
recent Inform...
Vista previa 1 fuera de 3 páginas
Añadir al carritoWhenever a buyer assumes ownership of a condominium unit, the corporation's board of directors must 
send what to the new owner? - Answer-A New Owner Information Certificate (NOIC) 
Note: This provides new owners with the most recent Periodic Information Certificate (PIC) or the most 
recent Inform...
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...
Vista previa 2 fuera de 14 páginas
Añadir al carritoDefine 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...
Vista previa 3 fuera de 28 páginas
Añadir al carritoHow 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...
Vista previa 2 fuera de 11 páginas
Añadir al carritoWhat'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...
Vista previa 3 fuera de 18 páginas
Añadir al carritoWhat 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...
Vista previa 4 fuera de 33 páginas
Añadir al carritoDefine '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...
Vista previa 2 fuera de 7 páginas
Añadir al carritoWhat 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...
Vista previa 3 fuera de 18 páginas
Añadir al carritoWhat 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...
Vista previa 4 fuera de 32 páginas
Añadir al carritoCondominium 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...
Vista previa 2 fuera de 12 páginas
Añadir al carritoWhat 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...
Vista previa 3 fuera de 17 páginas
Añadir al carritoUnder 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 ...
Vista previa 2 fuera de 5 páginas
Añadir al carritoIf 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...
Vista previa 2 fuera de 10 páginas
Añadir al carritoReal 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...
Vista previa 2 fuera de 15 páginas
Añadir al carritoEvolution - 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...
Vista previa 4 fuera de 76 páginas
Añadir al carritoWhat 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...
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