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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When is a new registration for a salesperson applicant completed by RECO?

The RECO insurance premium is paid.
The applicant completes the final course entitled Commercial Real Estate Transactions.
The applicant submits an original Canadian criminal record check dated within the last 12 months.
The applicant completes all facilitated review sessions.
After passing the criminal record check and commercial real estate transactions course.
On payment of the RECO license fee.

The correct answer is: The RECO insurance premium is paid.

The correct answer is that a new registration for a salesperson applicant is completed by RECO when the RECO insurance premium is paid. This payment is a crucial step because the insurance is part of the requirements for maintaining a valid registration for real estate professionals in Ontario. The premium ensures that the salesperson is covered by the necessary liability insurance, which is a foundational requirement for all real estate salespeople in the province. The completion of other courses, criminal record checks, and facilitated review sessions are indeed important components of the overall registration process, but they do not finalize the registration. The registration becomes complete specifically upon the payment of the RECO insurance premium. This premium essentially signifies that the salesperson is ready and authorized to practice, marking the transition from training and examination to active registration in the real estate industry.