Humber/Ontario Real Estate Course 1 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

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!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What is the broker of record responsible for in a brokerage?

Guaranteeing all transactions' success
Ensuring compliance with REBBA by all employees
Overseeing daily operations exclusively
Training all new salespersons personally
Marketing and advertising campaigns
Financial auditing of the brokerage

The correct answer is: Ensuring compliance with REBBA by all employees

The broker of record plays a vital role in maintaining the integrity and legal compliance of a brokerage. One of their primary responsibilities is ensuring that all employees, including real estate agents and support staff, adhere to the regulations outlined in the Real Estate and Business Brokers Act (REBBA). This includes implementing policies and procedures that align with these laws, which are designed to protect the interests of clients and maintain high professional standards within the real estate industry. This accountability is crucial for fostering a compliant environment and safeguarding the brokerage against potential legal issues. While the broker may be involved in other aspects of the business, such as operational oversight or marketing initiatives, the emphasis on regulatory compliance underscores the critical nature of their role in upholding the standards set forth by REBBA.