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Course 3: Additional Residential Real Estate Transactions Study Guide
Builds on Course 2 with more complex residential scenarios including condominiums, new construction, rural properties, and transactions involving multiple offers or unique conditions.
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Try a sample question
This is the difficulty and format you'll see in the Course 3 practice bank. Pick an answer and read the explanation.
Try this practice question
When a buyer makes an offer on a condominium unit, the status certificate must be:
Pick an answer to see the explanation. The real product gives you AI follow-up on every question.
Key terms in Course 3
Plain-English definitions of the terms tested most heavily in this course. Each links to a deeper write-up with examples and exam scenarios.
Common Elements (Condo)
The shared portions of an Ontario condominium property (hallways, lobbies, elevators, structural components, mechanical systems, amenities, and grounds) owned collectively by all unit owners as tenants in common, governed under the Condominium Act, 1998.
Condo Status Certificate
The same disclosure package as an Ontario status certificate. Long-tail variant of the term. See the canonical /glossary/status-certificate for full coverage.
Debt Service Ratio
A lender's calculation of how much of a borrower's gross income goes to housing costs (GDS) and total debt obligations (TDS). Canadian lenders use these ratios to qualify mortgage applicants.
HST on Real Estate (Ontario)
Ontario charges 13% Harmonized Sales Tax on the sale of new homes (built or substantially renovated by the seller). Resale homes are HST-exempt. New-home buyers can claim partial federal and Ontario HST rebates if the property is their primary residence.
Mortgage Types
The categories of residential mortgage available in Ontario — fixed vs variable rate, open vs closed, conventional vs high-ratio, and specialized products like HELOCs and reverse mortgages. Each carries different risk and flexibility profiles.
Reserve Fund (Condo)
A mandatory savings account every Ontario condominium corporation must maintain to pay for major repairs and replacements of common elements. Funded by a portion of monthly common-element fees and governed by section 93 of the Condominium Act, 1998.
Status Certificate
A package of documents prepared by an Ontario condominium corporation that discloses the condo's financial, legal, and physical condition to a prospective buyer or lender.
Tarion Warranty
Mandatory new-home builder warranty coverage in Ontario, regulated by the Tarion Warranty Corporation under the Ontario New Home Warranties Plan Act.
See the full Ontario real estate glossary.
Your study experience
Everything you need to pass, practice questions, AI explanations, spaced repetition, and progress tracking.
Under TRESA, when must a salesperson disclose a material latent defect?
Ask unlimited follow-ups on any question. Passit gives you a static explanation and stops there.
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Topics mastered
8 of 12
Weakest area
Land Registration
6 topics · 6 study guides
Every topic comes with a written study guide
Each topic below includes a plain-English summary of the textbook material, the key rules and definitions, worked math examples where applicable, and the exam-style traps that catch first-time candidates. Read on desktop or on your phone, anywhere you have a few minutes.
Condominium Transactions
Purchasing condominiums including status certificates, condo fees, and reserve funds.
New Construction
Builder agreements, Tarion warranty, and deposits in new home purchases.
Rural Properties
Well, septic, zoning, and environmental considerations for rural real estate.
Complex Offer Conditions
Drafting and negotiating conditions for financing, inspection, and sale of buyer property.
Title Issues and Title Insurance
Common title defects, survey issues, and the role of title insurance.
Landlord-Tenant Considerations
Residential Tenancies Act basics and their impact on property transactions.
Why ExamAce for Course 3?
| Feature | ExamAce | Passit |
|---|---|---|
| Access | All 26 courses with one plan, cancel anytime. | Access window of 6–10 weeks per course. |
| AI tutor | Ask why any answer is wrong and get an instant explanation. | No AI tutor, static explanations only. |
| Spaced repetition | SM-2 algorithm resurfaces your weak questions automatically. | No spaced repetition system. |
| Price | $29.99/mo or $129/6mo, all 26 courses. | ~$43/mo per course on a per-course window. |
On the ground at Humber Polytechnic
We meet candidates where they study
The ExamAce team is on Humber's North campus during student events, talking to candidates about what trips them up on Course 1 and where they want better prep.
That direct feedback is why our questions match what students actually see on the real exam, not what an out-of-touch question writer thinks should be tested.
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What students say
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Frequently asked questions
How many practice questions are in the Course 3 study guide?
The Course 3 guide includes over 200 practice questions, organized by topic and available in a timed exam simulator mode that mimics the real 100-question exam format.
Does ExamAce cover the actual Humber Course 3 exam format?
Yes. Questions are written to match the difficulty and style of the Humber College Course 3 exam, targeting the 75% passing threshold. The exam simulator replicates the timed, multiple-choice format you will face on exam day.
Can I access the Course 3 guide on my phone?
Yes. ExamAce is a progressive web app (PWA) that works on any device, iPhone, Android, tablet, or desktop. You can download it to your home screen for offline access so you can study anywhere, even without a connection.
Studying for the exam? Read the Course 3 exam study guide — exam format, high-yield topics, and common traps.
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