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Take the 10-question Humber practice quiz
A short, exam-style quiz that tells you where you stand. Mix of TRESA, residential, condos, commercial, and math, at the same difficulty calibration as the Humber Real Estate Salesperson exam. Takes about 5 minutes.
Question 1 of 10
Course 1 — Real Estate Essentials
Under TRESA, which duty does a seller's representative owe to a buyer who is NOT their client?
What this quiz tests
The 10 questions cover the four pre-registration courses (Real Estate Essentials, Residential Transactions, Condominiums, Commercial Transactions) at the same difficulty level as the Humber exam. Two are math-heavy, three test TRESA legal duties, and the rest cover transaction mechanics, at proportions roughly matching the real exam blueprint.
Score below 5 and you have prep ahead. The gap is closeable in 4-6 weeks of focused study. Score 5-7 and you have a solid baseline with specific weak areas to target. Score 8-10 and you\'re close to exam-ready; the remaining work is volume drilling and timed mock exams.
The quiz score is a directional signal, not a guarantee. Humber's published path allows two hours for Exam 1 and three hours for Exams 2, 3 and 4 and both Simulation Exams, so stamina and timing matter separately from raw accuracy. But this 10-question snapshot correlates well with overall preparedness in the candidates we've tested it with.
All 10 questions, answers and explanations
Take the quiz above first. Then use these to review: each one opens to reveal the correct answer and why the distractors are wrong.
Q1 · TRESA agency duties
Course 1 — Real Estate Essentials
Under TRESA, which duty does a seller's representative owe to a buyer who is NOT their client?
- A)Undivided loyalty and confidentiality
- B)Honest dealing and disclosure of material facts
- C)Obedience to the buyer's instructions
- D)Competent representation
Show answer and explanation
Answer: B) Honest dealing and disclosure of material facts
Under TRESA, a seller's representative owes non-clients (customers) only honest dealing and material-fact disclosure. Loyalty, confidentiality, obedience, and competent representation are duties owed to clients, not customers.
Q2 · Counter-offers
Course 2 — Residential Transactions
A buyer submits an offer with a financing condition. The seller signs back with a higher price. What is the legal status of the buyer's original offer?
- A)It remains binding on both parties
- B)It is automatically terminated by the counter-offer
- C)It becomes void only if the buyer rejects the counter
- D)It converts to a backup offer
Show answer and explanation
Answer: B) It is automatically terminated by the counter-offer
A counter-offer legally terminates the original offer. The buyer is no longer bound by their original offer and can accept the counter, counter back, or walk away. This is contract law fundamentals — a counter is a rejection plus a new offer.
Q3 · Status certificate timing
Course 3 — Condominiums
When purchasing a resale condominium, within how many days must the buyer receive the status certificate after requesting it?
- A)5 business days
- B)10 calendar days
- C)15 calendar days
- D)30 calendar days
Show answer and explanation
Answer: B) 10 calendar days
Under the Condominium Act, 1998, the corporation must provide the status certificate within 10 calendar days of the request, along with the prescribed documents. This is a hard statutory deadline.
Q4 · Cap rate math
Course 4 — Commercial Transactions
A commercial property generates $180,000 NOI annually. If a buyer requires an 8% cap rate, what is the maximum purchase price?
- A)$1,800,000
- B)$2,250,000
- C)$1,440,000
- D)$2,500,000
Show answer and explanation
Answer: B) $2,250,000
Value = NOI ÷ Cap Rate = $180,000 ÷ 0.08 = $2,250,000. The cap rate reflects the investor's required return — a higher required return means they'll pay less for the same NOI.
Q5 · Multiple representation
Course 1 — Real Estate Essentials
A brokerage represents both the buyer and seller in a single transaction. Under TRESA, this arrangement requires which of the following?
- A)Verbal acknowledgement at the time of offer
- B)Written informed consent from both parties before any offer is presented
- C)Approval from RECO in writing
- D)Disclosure to one party only — the buyer typically
Show answer and explanation
Answer: B) Written informed consent from both parties before any offer is presented
Multiple representation (formerly dual agency) requires written informed consent from BOTH the buyer and seller, given before any offer is presented. The brokerage must disclose its reduced ability to provide undivided loyalty to either party, and both clients must consent in writing.
Q6 · Deposit handling
Course 2 — Residential Transactions
A buyer's deposit cheque is delivered to the listing brokerage. Per TRESA, when must the deposit be placed in the brokerage's real estate trust account?
- A)Within 24 hours of receipt
- B)Within 5 business days
- C)No later than the fifth business day after the deposit is received
- D)On or before the closing date
Show answer and explanation
Answer: C) No later than the fifth business day after the deposit is received
Under O. Reg. 567/05, the brokerage must deposit funds received in trust no later than the fifth business day after the deposit is received. The exact wording — "fifth business day" not "5 business days" — matters because it counts the day of receipt.
Q7 · Mortgage qualification
Course 2 — Residential Transactions
A buyer earns $96,000 gross/year. Their annual housing costs (P+I+T+50% condo+heat) total $34,560. Their car loan is $400/month. What is their TDS ratio?
- A)36% — qualifies
- B)41% — qualifies under both insured and conventional caps
- C)49% — fails both caps
- D)44% — fails the conventional cap
Show answer and explanation
Answer: B) 41% — qualifies under both insured and conventional caps
TDS = (housing $34,560 + car $4,800) ÷ $96,000 = $39,360 ÷ $96,000 = 41%. The conventional and insured caps are both 44%, so this buyer qualifies — but they're close to the line and a small income drop or rate increase could push them out.
Q8 · Code of Ethics
Course 1 — Real Estate Essentials
A salesperson discovers that the seller has not disclosed a material latent defect (a known basement water seepage issue) on the seller property information statement. What is the salesperson's obligation?
- A)Keep the information confidential to protect the seller-client
- B)Disclose the defect to potential buyers, even though the seller has not
- C)Discuss it only if asked directly by the buyer
- D)Refuse to continue representing the seller
Show answer and explanation
Answer: B) Disclose the defect to potential buyers, even though the seller has not
Material latent defects must be disclosed by the salesperson regardless of seller instructions. Latent defects are issues a reasonable buyer wouldn't discover on inspection. The Code of Ethics duty of fair dealing supersedes the duty of confidentiality where non-disclosure would mislead a buyer about a material fact.
Q9 · Lease structures
Course 4 — Commercial Transactions
A tenant signs a triple-net (NNN) lease at $24/sq ft for 5,000 sq ft. The property's annual operating expenses pass-through is $9/sq ft. What is the tenant's total annual occupancy cost?
- A)$120,000 — base rent only
- B)$165,000 — base rent + operating expense pass-through
- C)$45,000 — operating expenses only
- D)$135,000 — base rent + 50% pass-through
Show answer and explanation
Answer: B) $165,000 — base rent + operating expense pass-through
In a triple-net lease, the tenant pays base rent PLUS three "nets": property taxes, insurance, and operating/maintenance. Total cost = ($24 + $9) × 5,000 = $33 × 5,000 = $165,000/year. NNN leases are common in retail and industrial; gross leases bundle the costs into a single rent figure.
Q10 · Closing-day prorations
Course 2 — Residential Transactions
A property's annual property tax is $5,475 ($15/day). The seller has paid the full year in advance. The buyer closes on October 1. What is the proration adjustment on closing?
- A)Buyer credits seller $1,380 (92 days × $15)
- B)Seller credits buyer $1,365
- C)Buyer credits seller $4,110 (274 days × $15)
- D)No proration — the seller is responsible for the full year
Show answer and explanation
Answer: A) Buyer credits seller $1,380 (92 days × $15)
The seller prepaid the full year (Jan 1 - Dec 31). The buyer takes possession Oct 1 and is responsible for the day of closing, so the buyer reimburses the seller for the 92 days from Oct 1 to Dec 31 inclusive that the buyer will benefit from: 92 × $15 = $1,380.
Why we built this quiz
The single most useful thing a Humber candidate can do early is figure out where they stand. Most candidates either over-prepare on Course 1 (where they feel comfortable) or under-prepare on math (where they feel anxious). Either way, four weeks pass without focused practice.
A 10-question diagnostic at the start of prep tells you which courses to weight, which formula categories you\'re shaky on, and roughly how many hours of prep you need. Repeat the quiz two weeks later. The gap between scores tells you whether your study plan is working.
ExamAce is an independent exam preparation service and is not affiliated with, endorsed by, or connected to RECO, Humber Polytechnic, or any provincial regulatory body.