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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Which entity regulates real estate transactions and enforces compliance in Ontario?

Ontario Real Estate Association (OREA)
Canada Mortgage and Housing Corporation (CMHC)
Real Estate Council of Ontario (RECO)
Ontario Ministry of Housing
Canadian Real Estate Association (CREA)
Real Property Association of Canada

The correct answer is: Ontario Real Estate Association (OREA)

The correct answer is A. Ontario Real Estate Association (OREA). The OREA is not the regulatory body in Ontario; it is mainly a professional association that supports real estate agents through resources, training, and advocacy. The Real Estate Council of Ontario (RECO) is the regulatory body in Ontario responsible for regulating real estate transactions, enforcing compliance with the Real Estate and Business Brokers Act, and protecting consumers in real estate transactions. The other options listed are not the primary entities that specifically regulate real estate transactions in Ontario.