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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When does a new rule approved by a condominium board of directors take effect?

Immediately upon approval
After 30 days if not contested by owners
After a majority of owners approve
Within 60 days following a meeting
Within 90 days following public notice
After a 60-day review period

The correct answer is: After 30 days if not contested by owners

When a new rule is approved by a condominium board of directors, it typically takes effect after 30 days if it is not contested by any of the owners. This process allows owners the opportunity to review the new rule and raise any objections they may have before it becomes official. This helps ensure transparency and gives owners a chance to voice their concerns or provide feedback before the rule is enforced. Options A, C, D, E, and F are incorrect because they do not accurately reflect the standard procedure for implementing new rules in a condominium. The correct answer is B because it aligns with the common practice of allowing a 30-day period for owners to contest the new rule before it takes effect.