ON Real Estate Sim 1 study plan

Map the structure of the Real Estate Act and its regulations, listing which activities require licensing and which are exempt

Summarize the duties and powers of the regulator, including complaint, investigation and discipline processes, in your own words

Build a one-page table of licence classes, registration requirements, and continuing education obligations

Explain advertising, record-keeping and trust account rules and identify three common compliance failures

Draft ten original practice questions on regulatory framework and answer them without notes

Distinguish the fiduciary duties owed to clients from the fairness and disclosure duties owed to customers

Analyze conflict-of-interest and dual agency scenarios and write the correct disclosure sequence for each

Apply the code of conduct to five short misconduct vignettes and justify each outcome by rule

Outline a personal risk-management checklist covering documentation, referrals and representations

Identify disciplinary penalties and explain how they escalate for repeat or serious breaches

Compare agency relationships (seller representation, buyer representation, designated and no-agency) and when each arises

Explain how agency is created, disclosed, and terminated, including expiry and revocation

Trace the duties of disclosure, confidentiality and accounting for money through two transaction timelines

Practice explaining agency choices to a hypothetical client in plain language, spoken aloud for five minutes

Answer fifteen scenario questions on representation and record your accuracy rate

Identify the mandatory elements of an agreement of purchase and sale and what makes each element enforceable

Explain conditions, waivers, amendments and the consequences of missing a deadline

Distinguish misrepresentation, mistake, duress and undue influence and the remedies available for each

Work through deposit, closing and breach scenarios and state which party bears the loss

Draft a clause-by-clause checklist for reviewing an offer before signature

Classify estates and interests in land and explain co-ownership forms and their severance rules

Describe how title is registered, what a title search reveals, and how encumbrances, easements and liens affect ownership

Calculate loan-to-value, down payment, qualifying ratios and amortization for four worked financing scenarios

Compare mortgage types, terms, renewal and prepayment options and explain default and power of sale basics

Solve ten numerical problems under time pressure and log every error by cause

Compare the three approaches to value and select the appropriate one for six described properties

Perform a direct comparison adjustment grid and a simple capitalization calculation by hand

Explain highest and best use and the difference between market value and price

Summarize zoning, permitted uses, variances, non-conforming uses and the subdivision process

Identify environmental hazards, disclosure obligations and the role of land-use controls in a transaction

Describe the main structural, mechanical, electrical and plumbing systems and their common failure points

Interpret a sample inspection report and translate defects into client advice and negotiation points

Calculate net operating income, cap rate, cash-on-cash return and gross rent multiplier for two properties

Explain due diligence for commercial deals, including leases, estoppels and environmental review

Compare residential and commercial transaction timelines and documentation requirements

Complete two full-length timed practice exams and record scores by domain

Re-study only the two weakest domains using your own notes and cheat sheets

Recite from memory the key rules, formulas and disclosure sequences for each domain

Review every missed question and write the correct reasoning in one sentence each

Simulate exam-day timing and confirm your pace per question