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!

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!

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Which of the following is NOT a correct statement regarding agreements signed with buyers and sellers?

An agreement of purchase and sale is referred to in REBBA as an agreement for the conveyance of an interest in real estate.
An agreement of purchase and sale is referred to in REBBA as an agreement for the purpose of trading.
A customer service agreement is referred to in REBBA as an agreement for the purpose of trading.
A listing agreement is referred to in REBBA as an agreement for the purpose of trading.

The correct answer is: An agreement of purchase and sale is referred to in REBBA as an agreement for the purpose of trading.

An agreement of purchase and sale is indeed referred to in REBBA as an agreement for the conveyance of an interest in real estate, which makes option A correct. Option C is incorrect because a customer service agreement is actually not referred to as an agreement for the purpose of trading in REBBA. Option D is also incorrect as a listing agreement is not referred to as an agreement for the purpose of trading under REBBA. This leaves option B as the correct answer because an agreement of purchase and sale is not referred to as an agreement for the purpose of trading in REBBA.