Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 2 Exam with comprehensive quizzes that include flashcards and multiple-choice questions. Enhance your knowledge and confidence in real estate concepts to excel in the examination!

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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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According to the Appraisal Institute of Canada (AIC), how are residential living area measurements determined?

  1. Based on internal measurements

  2. Are now the standard used throughout Ontario

  3. Exclude any main floor additions in a one-storey home

  4. Can apply to both one storey and one and one-half storey homes

  5. Include basement finished areas

  6. Exclude garage spaces

The correct answer is: Can apply to both one storey and one and one-half storey homes

According to the Appraisal Institute of Canada (AIC), residential living area measurements are determined based on both one-storey and one-and-one-half storey homes. This means that the measurement standards set by the AIC can be utilized for properties falling under these categories, ensuring a standardized and consistent approach to determining living area measurements for appraisal purposes. Options A, B, C, E, and F are not directly in line with the AIC's guidelines for residential living area measurements, making them incorrect choices in the context of this question.

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