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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Under the Real Estate and Business Brokers Act (REBBA), which of the following best describes the term "registrant"?

Any individual holding a real estate license under the jurisdiction.
A salesperson, broker, and brokerage registered under REBBA.
A person or company engaged in real estate marketing activities.
An individual who recently applied for a real estate license.
A member of the provincial real estate board.
A certified property appraiser.

The correct answer is: A salesperson, broker, and brokerage registered under REBBA.

The term "registrant" under the Real Estate and Business Brokers Act (REBBA) is best described as a salesperson, broker, and brokerage registered under REBBA. This definition accurately encompasses all entities and professionals who are legally recognized as authorized to operate within the realm of real estate as stipulated by the act. Registrants are those who meet the educational and regulatory requirements to engage in real estate transactions and are thus held to specific standards and obligations. Understanding this definition is crucial because it highlights the broader category that includes both individuals (salespersons and brokers) and businesses (brokerages) that have completed the registration process. Each of these entities must adhere to the regulations and codes of conduct established by REBBA, ensuring a level of professionalism in the industry. This context clarifies the limitations of other options since they either focus on a subset of registry types or do not align with the full regulatory definition of a registrant under the Act.