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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Which statement is true regarding material facts?

As material facts are subjective, they do not require supporting evidence or documentation.
Material facts are general, observable factors that are common to all sellers.
Material facts are limited to items that the seller chooses to disclose.
Material facts are specific, personal factors that are unique to each seller.

The correct answer is: Material facts are specific, personal factors that are unique to each seller.

The correct answer is D. Material facts are specific, personal factors that are unique to each seller. Material facts in real estate refer to any information about a property that could affect a buyer's decision to purchase. These facts are unique to each seller and are not general or common to all sellers. It is essential for sellers to disclose all material facts about the property to potential buyers to ensure a transparent and fair transaction.