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 these is NOT a valid exemption for non-registrants trading real estate?

Salaried salesperson for a home builder
Auctioneer performing auction duties
Lawyer providing legal services
Financial advisor processing estate sales
Property manager negotiating leases
Personal assistant managing real estate duties

The correct answer is: Financial advisor processing estate sales

The correct answer is D because a financial advisor processing estate sales is not a valid exemption for non-registrants trading real estate. In Ontario, individuals who trade in real estate, which includes activities such as selling, leasing, or buying real estate on behalf of others, are required to be registered with the Real Estate Council of Ontario (RECO) unless they fall under specific exemptions. The other options listed are valid exemptions for non-registrants trading real estate. A salaried salesperson for a home builder, an auctioneer performing auction duties, a lawyer providing legal services, a property manager negotiating leases, and a personal assistant managing real estate duties are all roles that are exempt from registration when conducting real estate transactions. It is important to understand these exemptions to ensure compliance with the regulations outlined by RECO in Ontario.