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Humber Real Estate Course 1: Modules 1-3 Questions and Correct Answers (100% Pass)
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Humber Real Estate Course 1: Modules 1-3 Questions and Correct Answers (100% Pass)
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1|Page | © copyright 2024/2025 | Grade A+Humber Real Estate Course 1:
Modules 1-3 Questions and
Correct Answers (100% Pass)
Real Estate and Business Brokers Act (REBBA)
✓ - regulates real estate trading
✓ - Ministry of Government & Consumer Services is responsible for it
✓ - RECO enforces it
✓ - provides a framework for the regulation of the profession to protect
consumers & ensure integrity of interactions is upheld
REBBA Code of Ethics
✓ - objective is to protect sellers & buyers by outlining standards to be
upheld during all real estate activities
✓ - Fairness & Honesty
✓ - Conscientious & Competent Service
✓ - Services From Others
Code of Ethics: Services From Others
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
✓ must advise a seller/buyer to obtain services from another person if the
registrant isn't able to provide the services
listing brokerage
✓ when a brokerage has a property listed for sale
co-operating brokerage
✓ A brokerage (typically representing the buyer) who is cooperating with
a listing brokerage in a real estate trade.
buyer's brokerage
✓ The term used to refer to the buyer's brokerage when the seller doesn't
have their property listed for sale with a brokerage (privately selling
their home).
lessor
✓ the one who grants the lease, the landlord
lessee
✓ the tenant
Master01 | October, 2024/2025 | Latest update
, 1|Page | © copyright 2024/2025 | Grade A+
representation relationship
✓ - the party is a client
✓ - an agency relationship has been established between the 2 parties
✓ - both regulatory (REBBA) & fiduciary obligations on the brokerage
fiduciary obligatons
✓ brokerage is required to:
✓ - be loyal
✓ - not disclose confidential information
✓ - promote & protect the seller/buyer's best interests
providing services relationship
✓ - the party is a customer who is receiving services from a brokerage
(e.g., get info on a house for sale but represent themselves)
✓ - brokerage must treat party with fairness, honesty, and ensure any info
provided is accurate
✓ - no fiduciary obligations
representation agreement
Master01 | October, 2024/2025 | Latest update
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