Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What adjustment is needed for a comparable lot with a 52-foot frontage if the subject lot has a 47-foot frontage and the adjustment per front foot is $7,350?

A plus adjustment of $29,400
A minus adjustment of $36,750
A plus adjustment of $7,350
A minus adjustment of $7,350
A minus adjustment of $29,400
No adjustment is required

The correct answer is: A minus adjustment of $36,750

The correct answer is a minus adjustment of $36,750. To calculate the adjustment needed for the comparable lot with a 52-foot frontage compared to the subject lot with a 47-foot frontage, we first find the difference in frontage between the two lots, which is 52 - 47 = 5 feet. Next, we multiply the difference in frontage by the adjustment per front foot: 5 feet x $7,350 = $36,750. Since the comparable lot has a larger frontage than the subject lot, this results in a negative adjustment, which is why a minus adjustment of $36,750 is needed. The other options are incorrect because they do not accurately reflect the calculation or direction of the adjustment required in this scenario.