Humber Real Estate BUNDLED EXAMS 2024 with 100% correct answers

What does REBBA stand for? - correct answer The Real Estate and Business Brokers Act Whose role is it to enforce REBBA? - correct answer RECO What is the purpose of REBBA? - correct answer To provide a framework for the responsive regulation of the real estate profession to protect consu...

What does REBBA stand for? - correct answer Real Estate and Business Brokers Act Whose role is it to enforce REBBA? - correct answer RECO Purpose of REBBA? - correct answer provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the...

Title - correct answer Condominium owners hold ______ to their private living space (unit) and share ownership jointly of the common areas (common elements) with other owners in the condominium corporation. A legal entity that represents the collective interests of its property owners. - corre...

The relationship between two parties in which one party (the agent) accepts responsibility for representing the other party (the principal) in dealing with a third party. - correct answer Under Ontario law, how is an 'agency relationship' defined? Client & Customer - correct answer While co...

A 'Patent Defect' is observable by the untrained eye. A 'Latent Defect' is not readily observable to the untrained eye during the reasonable inspection of a property. - correct answer What is the difference between a 'Patent Defect' and a 'Latent Defect'? A material latent defect bec...

If you are unable to address these areas satisfactorily, you may need to conduct a further review with a lawyer or other third-party experts. Note: You may be asked to provide the lawyer (or third-party experts) with a verbal or written summary of the issue to address separately with the client. ...

Industrial buildings range from warehouses that are typically 25,000 to 100,000 square feet, to a ________________________. - correct answer 7500 acre oil refinery What 3 categories are industrial properties divided into? - correct answer - General Purpose - Special Purpose - Single Purpose...

Humber Real Estate - Course 1, Module 4 exam 2024 with 100% correct answers

What is a contract? - correct answer A legally binding agreement between two or more persons, competent at law to enter into such agreement, for consideration or value, to do or refrain from doing something lawful. True or false? An oral contract for the acquisition or disposition of any intere...

- Date and time of the request - Consumer's name and contact information - Applicable 10-digit phone number(s) - correct answer A brokerage, as a telemarketer, must register with the National Do Not Call List (DNCL) but also maintain an internal do not call list. What should the internal do not...

- Zoning - the highest and best use should conform with the zoning, unless there is a probable and imminent prospect that the zoning will change or be amended to accommodate the highest or best use estimate not currently legal - Physical possibility of the proposed use in relation to factors such...

What are the 2 types of offices a brokerage can have? - correct answer - Main brokerage office - Branch office Does every branch office require a Broker of Record? - correct answer No. Only 1 Broker of Record is required for the main office only. Each branch office is assigned its own Bran...

The effective date and expiry date of the agreement (can only be one expiry date) - The method for calculating commission or other remuneration payable to the brokerage (in the case of a seller, the amount payable) - How the commission or other remuneration will be paid - The services that the br...