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.

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What is the correct percentage adjustment for a comparable property sold four months ago at $323,600, given a steady 0.6% monthly price increase?

  1. Plus adjustment of 3.2%

  2. Plus adjustment of 2.4%

  3. Minus adjustment of 0.16%

  4. Minus adjustment of 4.8%

  5. Minus adjustment of 1.8%

  6. Plus adjustment of 0.7%

The correct answer is: Plus adjustment of 2.4%

The correct percentage adjustment for a comparable property sold four months ago at $323,600, with a steady 0.6% monthly price increase, can be calculated as follows: 4 months x 0.6% monthly increase = 2.4% increase Therefore, the correct answer is a plus adjustment of 2.4%. Option A, which suggests a plus adjustment of 3.2%, is incorrect because the actual adjustment is 2.4%. Option C, indicating a minus adjustment of 0.16%, is incorrect as it doesn't take into account the price increase over the four months. Option D proposes a minus adjustment of 4.8%, which is significantly off from the actual adjustment calculated. Option E, suggesting a minus adjustment of 1.8%, is also incorrect. Option F, with a plus adjustment of 0.7%, is less than the actual adjustment of 2.4%.

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