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 can a buyer's reliance on a seller’s misrepresentation in an SPIS and omission of a home inspection lead to?

Seller non-liability for future repair costs.
Void buyer’s claim against property inaccuracies.
Mandatory follow-up inspections.
Seller liability for inaccuracies in SPIS.
Legal irrelevance of SPIS volunteer statement.
Seller immunity through disclosed inaccuracies.

The correct answer is: Seller liability for inaccuracies in SPIS.

The correct answer is D: Seller liability for inaccuracies in SPIS. When a seller provides misinformation or omits important details in the Seller Property Information Statement (SPIS), and the buyer relies on that information without conducting a home inspection, the seller can be held liable for any inaccuracies or material defects discovered after the purchase. This emphasizes the importance of sellers providing accurate and complete information in the SPIS to avoid potential legal consequences. Options A, B, C, E, and F do not accurately reflect the consequences of a buyer's reliance on a seller's misrepresentation in an SPIS and omission of a home inspection.