ON Residential Transactions Exam study guide
ON Residential Transactions Exam · Work through your exam, one topic at a time.
The Ontario Residential Transactions Exam is the assessment that Ontario real estate regulators and educator bodies use to confirm a candidate can handle the residential side of a trade competently and ethically. It is written for people who have finished the pre-registration education program and are preparing to register with the Real Estate Council of Ontario, and for registrants who want a structured refresher on residential practice. The ON Residential Transactions Exam study guide has 12 sections and about 5,453 words.
01Professional Conduct, Ethics and Regulatory Obligations
This domain tests whether you can apply the registrant's legal duties - honesty, disclosure, competence, and record-keeping - to concrete situations on a residential file. Expect scenario questions about conflicts of interest, multiple representation, handling other people's money, and the consequences of a breach.
474 words, about 2 min02Legislation Governing Residential Transactions
This domain tests your working knowledge of the statutes and regulations that shape a residential deal: the real estate services statute, consumer protection law, land title and conveyancing law, and the disclosure regimes for material facts. Questions ask which statute applies, who owes the duty, and what remedy follows.
450 words, about 2 min03Agency, Representation and Client Relationships
This domain tests whether you can establish, define, and terminate agency relationships correctly, and whether you can explain the resulting duties to clients and customers. Expect questions on creation of agency, types of agency, implied duties, and the transition from client to customer.
423 words, about 2 min04Listing and Buyer Representation Agreements
This domain tests the content, execution, and enforcement of the two core contracts in residential practice: the listing agreement and the buyer representation agreement. Expect questions on term, commission, holdover, exclusivity, and the disclosures that must accompany signing.
460 words, about 2 min05Property Marketing, Advertising and Disclosure
This domain tests whether your marketing complies with advertising rules, consumer protection law, and disclosure duties. Expect questions on accuracy of listing content, permission to advertise, identification of the brokerage, and handling of offers and competing interest.
397 words, about 2 min06Pricing, Market Analysis and Listing Preparation
This domain tests your ability to build a defensible comparative market analysis, recommend a list price, and prepare a property for market. Expect questions on adjustment logic, absorption and days-on-market, and the difference between an appraisal and a CMA.
402 words, about 2 min07Agreements of Purchase and Sale and Contract Law
This domain tests the formation, content, and enforcement of the agreement of purchase and sale (APS). Expect questions on offer and acceptance, conditions, waivers, deposits, representations and warranties, and remedies for breach.
393 words, about 2 min08Financing, Mortgages and Transaction Conditions
This domain tests how financing shapes a residential deal: mortgage qualification, financing conditions, lender requirements, and the interaction between financing and closing. Expect questions on down payment, debt-service ratios, mortgage types, and what a financing condition actually protects.
419 words, about 2 min09Title, Ownership and Encumbrances
This domain tests how title is held, transferred, and encumbered. Expect questions on forms of ownership, registration systems, encumbrances, title insurance, and the effect of unregistered interests.
396 words, about 2 min10Property Condition, Inspections and Environmental Issues
This domain tests your handling of property condition: what must be disclosed, how inspections work, and how environmental hazards affect a transaction. Expect questions on latent vs.
401 words, about 2 min11Closing, Trust Accounting and Deposit Handling
This domain tests the mechanics of closing and the strict rules for handling other people's money. Expect questions on trust account requirements, deposit timing, reconciliations, and the closing steps that transfer title and funds.
431 words, about 2 min12Residential Tenancies
This domain tests the rules that apply when a residential property is rented, sold subject to a tenancy, or purchased as an investment. Expect questions on tenancy agreements, rent rules, notice, eviction, and the effect of a sale on existing tenants.
807 words, about 4 min