Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with our comprehensive quiz. Test your understanding with multiple choice questions and detailed explanations. Build confidence and knowledge for a successful exam experience!

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 of the following is true about the role of a real estate appraiser in Ontario?

They must be a licensed real estate broker
They provide valuation services for real estate
They directly negotiate real estate transactions
They manage real estate properties for clients

The correct answer is: They provide valuation services for real estate

The role of a real estate appraiser in Ontario primarily revolves around providing valuation services for real estate. This involves assessing the value of properties through various methods, considering factors such as location, market trends, property condition, and comparable sales. Appraisers are essential in the real estate process, especially when it comes to financing and ensuring fair market value is established. Their expertise is crucial for lenders, buyers, and sellers who need accurate appraisals to make informed decisions regarding property transactions.