Ontario Mortgage Agent Practice Exam

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Prepare for the Ontario Mortgage Agent Exam with our comprehensive practice quiz, featuring multiple-choice questions and detailed explanations. Get the insights you need to succeed on your journey to becoming a licensed mortgage agent!

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What do restrictive covenants and easements have in common?

Both grant exclusive property use
Both involve shared property ownership
Both impact property rights and usage
Both eliminate property restrictions

The correct answer is: Both impact property rights and usage

Restrictive covenants and easements both impact property rights and usage but in different ways. Restrictive covenants limit what a property owner can do with their property while easements grant others the right to use the property for specific purposes. Option A is incorrect because restrictive covenants do not necessarily grant exclusive property use, they often limit it. Option B is incorrect because while both involve shared property, restrictive covenants do not necessarily involve shared ownership. Option D is incorrect because restrictive covenants typically add restrictions to property usage, rather than eliminate them.