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 statement is NOT correct regarding electronic signatures in real estate transactions in Ontario?

Both parties must consent to using electronic signatures before finalizing an agreement of purchase and sale
Brokerages must keep a hard copy of any electronically signed agreement of purchase and sale
Electronic signatures must comply with requirements set out in the Electronic Commerce Act
Salespersons must ensure email addresses are correct for electronic signatures

The correct answer is: Brokerages must keep a hard copy of any electronically signed agreement of purchase and sale

Option B is incorrect because brokerages are not required to keep a hard copy of electronically signed agreements of purchase and sale. In Ontario, electronic signatures are considered valid and legally binding as long as they comply with the requirements set out in the Electronic Commerce Act. Therefore, the physical retention of hard copies is not mandatory for brokerages. It is important for real estate professionals to ensure that they understand and adhere to the specific regulations and guidelines surrounding electronic signatures in real estate transactions to avoid any legal complications.