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 term accurately describes parking spaces designated exclusively for one condominium unit?

Freehold
Exclusive
Assigned
Lease
Shared
Communal

The correct answer is: Exclusive

Parking spaces designated exclusively for one condominium unit are referred to as "Exclusive" parking spaces. This term means that the parking space is specifically assigned or designated for the use of one particular unit owner. This term differentiates these parking spaces from shared or communal parking arrangements where multiple units may have access to the same parking spots. The other options: - Freehold refers to ownership of property where the owner has full control over the property and the land it sits on. - Assigned would indicate a specific parking spot designated for a particular unit or individual. - Lease would involve a temporary agreement for the use of a parking space. - Shared and Communal indicate parking spaces that are used by multiple unit owners or individuals.