OACIQ EXAM AND PRACTICE TEST BANK NEWEST 2026 REAL EXAM
QUESTIONS WITH CORRECT ANSWERS & DETAILED RATIONALES
|QUEBEC REAL ESTATE BROKER CERTIFICATION REVIEW
LATEST UPDATE
SECTION 1: BROKERAGE CONTRACTS & COMMISSIONS (Qs 1-50)
Q1. A seller signs an exclusive brokerage contract with Broker A. Before the
contract ends, the seller finds a buyer on their own. Is the broker entitled to
a commission?
A) Yes, always.
B) No, because the seller found the buyer without the broker.
C) Yes, unless the contract includes a "seller's reserve" clause.
D) No, if the buyer is a family member.
Answer: C
Rationale: In an exclusive brokerage contract, the broker is generally entitled
to commission for any sale during the contract period, regardless of who finds
the buyer. However, the seller may protect themselves by including a "seller's
reserve" clause, which lists specific individuals the seller reserves the right
to sell to without paying commission.
Why Wrong:
- A: The commission is not automatic if a seller's reserve clause is included.
- B: The exclusive contract gives the broker the right to commission even if
the seller finds the buyer, unless a reserve clause applies.
- D: Family members are not automatically exempt from commission obligations
unless specifically listed in a reserve clause.
Q2. A broker presents an offer to a seller. The seller accepts the offer but
requests a 30-day closing extension. What must the broker do?
A) Accept the extension on behalf of the buyer.
B) Present the counter-proposal to the buyer.
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,C) Proceed with the original offer.
D) Inform the seller that extensions are not permitted.
Answer: B
Rationale: The seller's request for a closing extension constitutes a
counter-proposal. The broker must present this counter-proposal to the buyer for
their acceptance or rejection. The broker cannot unilaterally accept or reject on
the buyer's behalf.
Why Wrong:
- A: The broker cannot accept on behalf of the buyer without authorization.
- C: The seller's request changes the terms; the original offer is no longer valid.
- D: Extensions are permitted as part of negotiations; the broker must present
the counter-proposal.
Q3. A broker receives multiple offers on a property. What is the broker's
obligation to the seller?
A) Present only the highest offer.
B) Present all offers in the order received.
C) Present all offers promptly and impartially.
D) Choose the offer they believe is best.
Answer: C
Rationale: The broker has a fiduciary duty to present all offers to the seller
promptly and impartially. The seller makes the final decision. The broker must
not withhold or favor any offer without the seller's instructions.
Why Wrong:
- A: All offers must be presented, not just the highest.
- B: Offers should be presented promptly, not necessarily in order of receipt.
- D: The broker must not choose for the seller; the seller makes the decision.
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,Q4. A broker has a listing agreement that expires on June 30. A buyer who was
introduced by the broker during the listing period purchases the property on
July 15. The broker is still entitled to commission if:
A) The buyer was introduced during the listing period.
B) The contract includes a "holding over" clause.
C) The seller voluntarily pays the commission.
D) The broker sends an invoice.
Answer: B
Rationale: A "holding over" clause (or "protection period") extends the broker's
right to commission for a specified period after the listing expires, provided
the buyer was introduced during the listing period. Without this clause, the
broker's right to commission typically ends with the contract.
Why Wrong:
- A: Introduction during the listing period is necessary but not sufficient
without a holding over clause.
- C: Voluntary payment by the seller is possible but not guaranteed; the clause
provides contractual protection.
- D: Sending an invoice does not create a legal obligation to pay.
Q5. A buyer signs a brokerage contract with Broker A. The buyer then purchases
a property with Broker B without terminating the contract with Broker A. Who is
entitled to commission?
A) Broker A
B) Broker B
C) Both brokers
D) Neither broker
Answer: A
Rationale: A valid exclusive brokerage contract between the buyer and Broker A
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, obligates the buyer to pay commission to Broker A for any property purchased
during the contract period, regardless of which broker facilitated the transaction.
Broker B is not entitled to commission as the buyer already had an exclusive
agreement.
Why Wrong:
- B: Broker B is not entitled to commission because the buyer had an exclusive
contract with Broker A.
- C: Only the broker with the valid exclusive contract is entitled to commission.
- D: Broker A is entitled to commission under the exclusive contract.
Q6. A seller signs an exclusive brokerage contract with Broker A. The seller
then sells the property to a buyer who was introduced by Broker B. Is Broker A
entitled to commission?
A) Yes, if the contract is exclusive.
B) No, because Broker B introduced the buyer.
C) Yes, but only if Broker B agrees.
D) No, if the buyer was not introduced by Broker A.
Answer: A
Rationale: Under an exclusive brokerage contract, Broker A is entitled to
commission for any sale during the contract period, regardless of who introduced
the buyer. The exclusivity clause gives Broker A the sole right to represent the
seller and earn commission.
Why Wrong:
- B: The source of the buyer does not matter under an exclusive contract.
- C: Broker B's agreement is irrelevant; Broker A has the exclusive right.
- D: The buyer need not be introduced by Broker A for Broker A to earn
commission
under an exclusive contract.
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QUESTIONS WITH CORRECT ANSWERS & DETAILED RATIONALES
|QUEBEC REAL ESTATE BROKER CERTIFICATION REVIEW
LATEST UPDATE
SECTION 1: BROKERAGE CONTRACTS & COMMISSIONS (Qs 1-50)
Q1. A seller signs an exclusive brokerage contract with Broker A. Before the
contract ends, the seller finds a buyer on their own. Is the broker entitled to
a commission?
A) Yes, always.
B) No, because the seller found the buyer without the broker.
C) Yes, unless the contract includes a "seller's reserve" clause.
D) No, if the buyer is a family member.
Answer: C
Rationale: In an exclusive brokerage contract, the broker is generally entitled
to commission for any sale during the contract period, regardless of who finds
the buyer. However, the seller may protect themselves by including a "seller's
reserve" clause, which lists specific individuals the seller reserves the right
to sell to without paying commission.
Why Wrong:
- A: The commission is not automatic if a seller's reserve clause is included.
- B: The exclusive contract gives the broker the right to commission even if
the seller finds the buyer, unless a reserve clause applies.
- D: Family members are not automatically exempt from commission obligations
unless specifically listed in a reserve clause.
Q2. A broker presents an offer to a seller. The seller accepts the offer but
requests a 30-day closing extension. What must the broker do?
A) Accept the extension on behalf of the buyer.
B) Present the counter-proposal to the buyer.
1
,C) Proceed with the original offer.
D) Inform the seller that extensions are not permitted.
Answer: B
Rationale: The seller's request for a closing extension constitutes a
counter-proposal. The broker must present this counter-proposal to the buyer for
their acceptance or rejection. The broker cannot unilaterally accept or reject on
the buyer's behalf.
Why Wrong:
- A: The broker cannot accept on behalf of the buyer without authorization.
- C: The seller's request changes the terms; the original offer is no longer valid.
- D: Extensions are permitted as part of negotiations; the broker must present
the counter-proposal.
Q3. A broker receives multiple offers on a property. What is the broker's
obligation to the seller?
A) Present only the highest offer.
B) Present all offers in the order received.
C) Present all offers promptly and impartially.
D) Choose the offer they believe is best.
Answer: C
Rationale: The broker has a fiduciary duty to present all offers to the seller
promptly and impartially. The seller makes the final decision. The broker must
not withhold or favor any offer without the seller's instructions.
Why Wrong:
- A: All offers must be presented, not just the highest.
- B: Offers should be presented promptly, not necessarily in order of receipt.
- D: The broker must not choose for the seller; the seller makes the decision.
2
,Q4. A broker has a listing agreement that expires on June 30. A buyer who was
introduced by the broker during the listing period purchases the property on
July 15. The broker is still entitled to commission if:
A) The buyer was introduced during the listing period.
B) The contract includes a "holding over" clause.
C) The seller voluntarily pays the commission.
D) The broker sends an invoice.
Answer: B
Rationale: A "holding over" clause (or "protection period") extends the broker's
right to commission for a specified period after the listing expires, provided
the buyer was introduced during the listing period. Without this clause, the
broker's right to commission typically ends with the contract.
Why Wrong:
- A: Introduction during the listing period is necessary but not sufficient
without a holding over clause.
- C: Voluntary payment by the seller is possible but not guaranteed; the clause
provides contractual protection.
- D: Sending an invoice does not create a legal obligation to pay.
Q5. A buyer signs a brokerage contract with Broker A. The buyer then purchases
a property with Broker B without terminating the contract with Broker A. Who is
entitled to commission?
A) Broker A
B) Broker B
C) Both brokers
D) Neither broker
Answer: A
Rationale: A valid exclusive brokerage contract between the buyer and Broker A
3
, obligates the buyer to pay commission to Broker A for any property purchased
during the contract period, regardless of which broker facilitated the transaction.
Broker B is not entitled to commission as the buyer already had an exclusive
agreement.
Why Wrong:
- B: Broker B is not entitled to commission because the buyer had an exclusive
contract with Broker A.
- C: Only the broker with the valid exclusive contract is entitled to commission.
- D: Broker A is entitled to commission under the exclusive contract.
Q6. A seller signs an exclusive brokerage contract with Broker A. The seller
then sells the property to a buyer who was introduced by Broker B. Is Broker A
entitled to commission?
A) Yes, if the contract is exclusive.
B) No, because Broker B introduced the buyer.
C) Yes, but only if Broker B agrees.
D) No, if the buyer was not introduced by Broker A.
Answer: A
Rationale: Under an exclusive brokerage contract, Broker A is entitled to
commission for any sale during the contract period, regardless of who introduced
the buyer. The exclusivity clause gives Broker A the sole right to represent the
seller and earn commission.
Why Wrong:
- B: The source of the buyer does not matter under an exclusive contract.
- C: Broker B's agreement is irrelevant; Broker A has the exclusive right.
- D: The buyer need not be introduced by Broker A for Broker A to earn
commission
under an exclusive contract.
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