HUMBER REAL ESTATE EVALUATION EXAM 2026/2027
QUESTIONS AND ANSWERS RATED A+
✔✔3 types of certificates sent out during a fiscal year (condo) - ✔✔-info certificates:
sent out within 30 days of key changes
-new owner info certificates: provided once new owners notify the condo corp. of their
names and unit
-periodic info certificate
✔✔1 year Tarion warranty for conversion projects... - ✔✔does not include elements of
the original structure
✔✔types of ownership in a CEC on a POTL - ✔✔freehold in the POTL and common
interest in the CEC
✔✔can landlords give notice of termination when damage is caused to the unit? -
✔✔yes
✔✔what percentage of rent payments does a property manager withhold when working
for a non-resident landlord according to the CRA - ✔✔25%
✔✔declaration - ✔✔list of proportionate shares of each unit in the common elements,
common expense fees and list of exclusive common elements
✔✔description - ✔✔plans, surveys; a visual depiction of the condo
✔✔how can brokerage collect remuneration from a new home builder? - ✔✔by
introducing the prospect who ends up buying the home to that builder
✔✔typically, remote, seasonal cottages will not have - ✔✔municipal sewage services
✔✔if rent increases during tenancy, the tenant may have to pay the additional increase
on... - ✔✔the last month deposit
✔✔the Status Certificate and Condo Management clause states that the buyer... -
✔✔will obtain the status certificate at a cost of no more than $100
✔✔what documents are Warranty Info Sheets typically attached to? - ✔✔APS or
Construction Contract
✔✔insurance for condos - ✔✔separate for units and common elements
, ✔✔if a buyer makes a finish/fixture selection for their new home and it is unavailable,
how long do they have to select a new one? - ✔✔7 days, or else the builder will choose
something else of the same quality and price (not less)
✔✔rent increase notice - ✔✔90 days
✔✔termination notice (monthly or more, like 1 year fixed) - ✔✔60 days
✔✔once both description and declaration are registered - ✔✔a condo is officially
created
✔✔when are water well records filed? - ✔✔at construction and are only relevant for that
point of time
✔✔at what point must homeowners pay for services (wires) to be extended to their
home? - typically rural - ✔✔once they extend past the primary wire which is 30 m
✔✔when did the sprinkler requirement come into effect? - ✔✔after April 2010
✔✔max duration for interim occupancy - ✔✔there is none
✔✔can condos place restrictions on car types and size? - ✔✔yes (when parking is
within the corporation)
✔✔when does the CCP need to be submitted and to where? - ✔✔within 15 days of
possession and submitted to the provincial warranty corp. (Tarion)
✔✔what does CCP stand for? - ✔✔Certificate of Completion and Possession
✔✔in the case of condos, when is the CCP provided to the buyer? - ✔✔at interim
occupancy
✔✔when is the CCP completed? - ✔✔on or before possession
✔✔cottages without basements can be subject to... - ✔✔drainage issues
✔✔cottages with retaining walls must have... - ✔✔adequate drainage
✔✔what would cause structural movement in cottages (or buildings in general)? -
✔✔inadequate footings or piers used during construction
✔✔where can a building permit be obtained? - ✔✔municipality or the Ministry of
Municipal Affairs and Housing
QUESTIONS AND ANSWERS RATED A+
✔✔3 types of certificates sent out during a fiscal year (condo) - ✔✔-info certificates:
sent out within 30 days of key changes
-new owner info certificates: provided once new owners notify the condo corp. of their
names and unit
-periodic info certificate
✔✔1 year Tarion warranty for conversion projects... - ✔✔does not include elements of
the original structure
✔✔types of ownership in a CEC on a POTL - ✔✔freehold in the POTL and common
interest in the CEC
✔✔can landlords give notice of termination when damage is caused to the unit? -
✔✔yes
✔✔what percentage of rent payments does a property manager withhold when working
for a non-resident landlord according to the CRA - ✔✔25%
✔✔declaration - ✔✔list of proportionate shares of each unit in the common elements,
common expense fees and list of exclusive common elements
✔✔description - ✔✔plans, surveys; a visual depiction of the condo
✔✔how can brokerage collect remuneration from a new home builder? - ✔✔by
introducing the prospect who ends up buying the home to that builder
✔✔typically, remote, seasonal cottages will not have - ✔✔municipal sewage services
✔✔if rent increases during tenancy, the tenant may have to pay the additional increase
on... - ✔✔the last month deposit
✔✔the Status Certificate and Condo Management clause states that the buyer... -
✔✔will obtain the status certificate at a cost of no more than $100
✔✔what documents are Warranty Info Sheets typically attached to? - ✔✔APS or
Construction Contract
✔✔insurance for condos - ✔✔separate for units and common elements
, ✔✔if a buyer makes a finish/fixture selection for their new home and it is unavailable,
how long do they have to select a new one? - ✔✔7 days, or else the builder will choose
something else of the same quality and price (not less)
✔✔rent increase notice - ✔✔90 days
✔✔termination notice (monthly or more, like 1 year fixed) - ✔✔60 days
✔✔once both description and declaration are registered - ✔✔a condo is officially
created
✔✔when are water well records filed? - ✔✔at construction and are only relevant for that
point of time
✔✔at what point must homeowners pay for services (wires) to be extended to their
home? - typically rural - ✔✔once they extend past the primary wire which is 30 m
✔✔when did the sprinkler requirement come into effect? - ✔✔after April 2010
✔✔max duration for interim occupancy - ✔✔there is none
✔✔can condos place restrictions on car types and size? - ✔✔yes (when parking is
within the corporation)
✔✔when does the CCP need to be submitted and to where? - ✔✔within 15 days of
possession and submitted to the provincial warranty corp. (Tarion)
✔✔what does CCP stand for? - ✔✔Certificate of Completion and Possession
✔✔in the case of condos, when is the CCP provided to the buyer? - ✔✔at interim
occupancy
✔✔when is the CCP completed? - ✔✔on or before possession
✔✔cottages without basements can be subject to... - ✔✔drainage issues
✔✔cottages with retaining walls must have... - ✔✔adequate drainage
✔✔what would cause structural movement in cottages (or buildings in general)? -
✔✔inadequate footings or piers used during construction
✔✔where can a building permit be obtained? - ✔✔municipality or the Ministry of
Municipal Affairs and Housing
