Humber/Ontario Real Estate Course 1 Exam Practice

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The RECO Insurance Program consists of three coverages. Which of the following is NOT one of them?

Commission Protection Coverage
Consumer Deposit Coverage
Errors And Omissions Coverage
Legal Expense Insurance
Personal Accident Coverage
Professional Liability Insurance

The correct answer is: Errors And Omissions Coverage

The correct answer is that Errors and Omissions Coverage is not one of the coverages included in the RECO Insurance Program. The RECO (Real Estate Council of Ontario) Insurance Program is designed to offer specific protections to real estate professionals, and certain coverage options are included while others are not. Errors and Omissions Coverage typically relates to professional liability insurance that protects against claims of negligence or mistakes made in the course of providing professional services. However, in the context of the RECO Insurance Program, this coverage is not specifically listed as one of the coverages provided. The program instead includes commission protection, consumer deposit, legal expense insurance, and personal accident coverage. These coverages address specific risks that real estate professionals face in their day-to-day operations, such as handling consumer deposits and legal disputes, while also offering personal safety protection.