Humber/Ontario Real Estate Course 1 Exam Practice

What is one responsibility of the board of directors of the Real Estate Council of Ontario (RECO)?

1. Day-to-day management of individual brokerages.

2. Managing the entire real estate market in Ontario.

3. Approving zoning bylaws and regulations.

4. Overseeing ethical conduct and practices.

5. Only comprised of members appointed by the Ministry of Education.

6. Responsible for establishing policies within RECO.

The correct answer is: Overseeing ethical conduct and practices.

The correct answer, which refers to overseeing ethical conduct and practices, highlights a crucial function of the board of directors of the Real Estate Council of Ontario (RECO). This responsibility ensures that real estate professionals adhere to the standards of conduct set forth by the council, promoting integrity and professionalism within the industry. By overseeing ethical practices, the board fosters public trust and confidence in real estate transactions, which are vital in maintaining a healthy market. Other responsibilities that may be the focus of the board do not specifically capture the essence of maintaining ethical standards in real estate activities, which is why this choice stands out as a key function. For example, the day-to-day management of individual brokerages falls outside the purview of the board, which does not engage directly with individual firms. Similarly, managing the entire market or approving zoning laws is beyond the board's scope; these are typically managed by government entities or municipal bodies. The composition of the board might involve a mixture of appointments, but it isn’t limited solely to ministry appointees, rather reflecting a broader representation of the sector's interests. Establishing policies within RECO is essential but does not directly imply overseeing ethics in practice, making the oversight of ethical conduct the most specific and relevant responsibility.