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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In Ontario, which act governs the information provided to consumers regarding the purchase, sale, and rental of real estate?

The Real Estate and Business Brokers Act
The Ontario Fair Trade Act
The Consumer Protection Act
The Business Practices Act

The correct answer is: The Real Estate and Business Brokers Act

The Real Estate and Business Brokers Act is the correct choice because it specifically governs the conduct and practices of real estate professionals in Ontario. This act outlines the legal framework that regulates how real estate transactions should be conducted, including the information that must be disclosed to consumers during the purchase, sale, and rental of properties. It establishes the standards of professional ethics and establishes the obligations of real estate agents and brokers, ensuring that consumers receive accurate and relevant information. In contrast, the Ontario Fair Trade Act and the Consumer Protection Act address broader consumer rights and fair trading practices in general but do not focus specifically on real estate transactions. The Business Practices Act also deals with fair business practices but does not directly pertain to real estate. Therefore, while these laws may intersect with real estate in some areas, the Real Estate and Business Brokers Act is the primary legislation governing the specifics of real estate consumer information.