One of the most challenging exams in the OREA curriculum is the combined one following The Real Estate Transaction—General and The Residential Real Estate Transaction. Here are Passit's 6 key strategies to better prepare you for this exam:
- Don't neglect General. For most students, this exam covers both The Real Estate Transaction—General and The Residential Real Estate Transaction (if you're unsure, contact OREA). If you completed General a few weeks ago, allocate extra review time for critical chapters, and answer questions from both Passit Guides to ensure course content is fresh and top of mind.
- Use the Exam Simulator sparingly. Some students repeat the Exam Simulator questions several times. Remember this is a single retired OREA exam. Don't count on seeing these questions on the exam—it is more important to fully cover all Passit questions rather than repeat the simulator ones several times.
- Go to class. Classroom time is always important, but it is particularly valuable for these courses. In particular, you need to grasp the nuances of challenging concepts and offer preparation skills. Devoting a week to a classroom schedule is difficult for many, but well worth it for the time invested.
- Understand why. This exam requires you to apply the knowledge learned to complex scenarios. Don't expect questions that rely on your ability to memorize. Be prepared to assess each unique scenario and determine the appropriate course of action. Remember that each OREA exam is different. Memorizing sample questions won't ensure exam success. If you complete a chapter and don't fully understand the material, reach out to the OREA Instructor Support Line at 1-866-444-5557.
- Master critical topics. Expect to see demanding questions that test your knowledge of:
- Multiple representation
- Competing offers
- Pay a further sum calculations
- Client vs. customer representation and associated duties/obligations
- Offer preparation, presentation and associated timelines
- Clause types, uses and differences (condition precedent, subsequent, waivers and warranties)
- Give yourself enough study time. These two courses cover a substantial range of content. Plan to cover at least one chapter per day, allowing a few break days, along with two review days prior to your exam. With 21 chapters to cover, a practical plan covers 4 weeks of exam preparation (21 days + break days + review days). Here's a daily strategy we recommend:
- Read the chapter.
- Answer the Knowledge Integration questions provided in the course.
- Tackle 20 questions from that chapter in Passit's MCQ 500 menu in Study Mode. Fully read and understand the feedback for all four answer options.
- Review any course materials that you didn't fully understand and try a new question set until you are comfortable with that chapter's material.
This exam is challenging but achievable! Good luck!