Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with our comprehensive quiz. Test your understanding with multiple choice questions and detailed explanations. Build confidence and knowledge for a successful exam experience!

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A desk fee plan, as opposed to a conventional plan:

Must be used by brokerages for salespeople who have been registered with RECO for less than two years.
Is normally associated with 50/50 remuneration sharing between the brokerage and its brokers or salespersons.
Provides the brokerage with the opportunity for substantially greater remuneration in strong market conditions.
Typically provides for high remuneration sharing (i.e., high commission splits), but includes a monthly fee owed by the broker or salesperson to the brokerage.
Is often used in low market conditions to share the financial burdens.
Requires the salesperson to pay a percentage of every transaction fee to the brokerage.

The correct answer is: Must be used by brokerages for salespeople who have been registered with RECO for less than two years.

A desk fee plan is typically used by brokerages for newly registered salespeople, especially those who have been registered with RECO for less than two years. This plan allows new salespeople to get started in the industry without having to worry about high commission splits or monthly fees. It provides a supportive environment for beginners to establish themselves in the real estate market. The other options provided do not accurately describe a desk fee plan and are therefore incorrect.