Humber/Ontario Real Estate Course 1 Exam Practice

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What must a new real estate registrant disclose when applying under the REBBA?

  1. Only past bankruptcies

  2. All personal financial issues

  3. Details about personal bankruptcy, unpaid judgments, and any license revocations

  4. Only pending lawsuits

  5. Previous work history

  6. Marital status

The correct answer is: Details about personal bankruptcy, unpaid judgments, and any license revocations

When applying under the Real Estate and Business Brokers Act (REBBA), a new real estate registrant is required to disclose details about personal bankruptcy, unpaid judgments, and any license revocations. This information is crucial for the regulatory body to assess the individual's financial stability and professionalism in the real estate industry. Disclosing past bankruptcies and any legal issues related to financial matters helps ensure transparency and accountability in the licensing process. Therefore, option C is the correct answer.

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