Each Humber real estate exam tests a different slice of the licensing curriculum. Course 1 (Real Estate Essentials) is the most regulatory: TRESA, RECO's framework, the Code of Ethics, property ownership, and land registration are roughly 60% of the exam. Course 2 covers residential transactions — the Agreement of Purchase and Sale (OREA Form 100), client representation, and showings.
Course 3 expands into condominiums, new construction, rural properties, and complex offer conditions. Roughly 30% of Course 3 questions involve condominium-specific rules, including status certificates, reserve funds, and the buyer's 10-day review period.
Course 4 is the commercial course. Expect 30% calculation-heavy questions: NOI, cap rate, cash-on-cash return, debt service coverage. The remainder covers commercial lease structures (gross, net, percentage) and the differences between residential and commercial APS.
Simulations 1 and 2 are scenario-based. They integrate content from the prerequisite courses and test applied judgment under realistic transaction scenarios — multiple-choice elements appear, but short-answer reasoning carries significant weight.
The Broker Qualifying Exam shifts to brokerage management: trust account administration, supervision of salespersons, vicarious liability, and advanced TRESA Phase 2 obligations.
- Course 1: TRESA, RECO, Code of Ethics, property ownership, land registration (~60% regulatory)
- Course 2: APS clauses, representation, showings, multiple offers (~35% APS-focused)
- Course 3: Condos, new construction, rural, complex conditions (~30% condo)
- Course 4: Commercial leases, NOI/cap rate calculations, commercial APS (~30% calculation)
- Simulations: Applied scenarios across all prior content
- Broker Qualifying: Trust accounts, supervision, advanced TRESA