Humber/Ontario Real Estate Course 1 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

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!

Practice this question and more.

Who appoints the broker of record for a brokerage?

A designated real estate board.
The salespeople of the brokerage.
The Real Estate Council of Ontario (RECO).
The brokerage itself, if it is a partnership or corporation.
The local municipal council.
The Ministry of Municipal Affairs and Housing.

The correct answer is: The brokerage itself, if it is a partnership or corporation.

The correct answer is D. The brokerage itself appoints the broker of record if it is a partnership or corporation. In Ontario, the Real Estate and Business Brokers Act (2002) states that the broker of record for a brokerage must be designated by the brokerage if it is a partnership or corporation. The broker of record is typically chosen by the owners or partners of the brokerage to oversee the real estate transactions and operations of the brokerage. This responsibility cannot be given to salespeople, a real estate board, RECO, the local municipal council, or the Ministry of Municipal Affairs and Housing.