Humber/Ontario Real Estate Course 1 Exam Practice

Which organizational body is responsible for forming for the benefit of its members?

1. A real estate board.

2. A provincial real estate regulator.

3. A national real estate governing body.

4. The Ontario Real Estate Council.

5. A property management association.

6. A neighborhood real estate committee.

The correct answer is: A real estate board.

A real estate board is responsible for forming for the benefit of its members. Real estate boards are organizations made up of real estate professionals who work together to promote the interests of their members and uphold professional standards within the industry. They provide networking opportunities, education, advocacy, and support for their members. The other options are incorrect because: - B. A provincial real estate regulator is responsible for regulating the real estate industry in the province, not forming for the benefit of its members. - C. A national real estate governing body oversees the real estate industry at a national level and sets industry standards but does not primarily focus on the benefits of its members. - D. The Ontario Real Estate Council is a regulatory body responsible for overseeing real estate transactions and protecting the public interest, not primarily formed for the benefits of its members. - E. A property management association focuses on property management professionals and industry standards, not necessarily formed for the benefit of its members. - F. A neighborhood real estate committee is a local group that may address community-specific real estate issues but is not an organization formed for the benefit of its members in the same way a real estate board is.