Commercial simulation
After Course 4 and a four-day simulation session, RECO students must pass Simulation Exam 2 on commercial deals. The cases cover office, retail and industrial property, commercial offers and leases, and selling a business. The real exam has 46 case-based multiple-choice questions in 3 hours, and results are reported as pass or fail.
Official exam: Salesperson Exam Simulator 2: Commercial Real Estate Transactions, by Real Estate Council of Ontario (RECO).
| Questions | 46 multiple choice |
|---|---|
| Time | 180 minutes |
| Pass mark | Pass/Fail. RECO does not publish a percentage. |
| Delivery | online proctored (ProctorU) or in person at a Meazure Learning test centre |
| Fee | CAD $120 per attempt |
| Attempts | One extra attempt can be purchased after a fail; failing twice means repurchasing and repeating Simulation Session 2. |
| Language | English |
What the exam covers
- Commercial listings and representation
- Office, retail and industrial property scenarios
- Commercial agreements of purchase and sale
- Commercial leasing scenarios
- Land, development and farm properties
- Selling a business
- TRESA compliance in commercial trades
Sample questions
In our own words, from this exam area. Try five more on the home page.
Under TRESA, what must a salesperson be registered as before they can trade in real estate in Ontario?
- A salesperson of a brokerage
- A salesperson working on their own, with no brokerage
- A member of a local real estate board only
- A licensed lawyer or paralegal
Show the answer
A. TRESA says no one may trade as a salesperson unless registered as a salesperson of a brokerage. A salesperson always works through a brokerage.
A brokerage receives a buyer's deposit to hold in trust. Under TRESA, where must the brokerage put this money?
- In a trust account the brokerage keeps in Ontario
- In the brokerage's general operating account
- In the salesperson's personal bank account
- In any account, including one outside Canada
Show the answer
A. TRESA requires every brokerage to keep a designated trust account in Ontario and deposit all money it holds in trust for others into it.
Questions about SIM-02
Is this the real Real Estate Council of Ontario exam?
No. This is practice built to the published format of the official exam. The real exam is run by Real Estate Council of Ontario (RECO).
What is the pass mark?
Pass/Fail. RECO does not publish a percentage.
How long do I have access?
30 days from when your access is activated. Need more time? You can buy the course again.
When does it open?
Tap "Notify me when it opens" and we message you as soon as this course is ready.