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 of the following is subject to regulation by the Ontario Real Estate and Business Brokers Act (REBBA)?

Agricultural land use zoning
Mortgage transaction policies
General business practices of brokers
Housing province subsidies
Real property lease laws
Real estate transaction standards

The correct answer is: General business practices of brokers

The correct answer is C. General business practices of brokers. The Ontario Real Estate and Business Brokers Act (REBBA) regulates the conduct of real estate brokers and salespersons in Ontario. It sets out rules and standards that real estate professionals must follow in their general business practices, such as advertising guidelines, dealing with clients, handling trust funds, and disclosure requirements. Essentially, REBBA governs the behavior and responsibilities of brokers in carrying out their real estate transactions, ensuring that they uphold the highest standards of professionalism and ethics in the industry. The other options are not subject to regulation by REBBA. Agricultural land use zoning falls under municipal planning and zoning regulations, mortgage transaction policies are regulated by federal financial institutions, housing province subsidies are government initiatives, real property lease laws are governed by landlord and tenant legislation, and real estate transaction standards can vary but are not specifically regulated by REBBA.