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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How is organized real estate structured in Canada?

OREA, RECO and Real Estate Boards
CREA, Provincial/Territorial Associations and Real Estate Boards
CREA, Provincial/Territorial Associations and RECO
The Canadian Real Estate Association and Real Estate Boards
RECO, OREA and Real Estate Boards
RECO, Provincial/Territorial Associations and OREA

The correct answer is: CREA, Provincial/Territorial Associations and Real Estate Boards

In Canada, organized real estate is structured through the Canadian Real Estate Association (CREA), Provincial/Territorial Associations, and Real Estate Boards. CREA is the national organization that represents real estate brokers and agents across the country. Provincial/Territorial Associations operate at a regional level, providing support and resources to real estate professionals in their respective provinces or territories. Real Estate Boards are local organizations that oversee real estate transactions in specific areas, promote ethical standards, and provide services to their members. This structure ensures a well-coordinated and regulated real estate industry across Canada.