NSAR Salesperson Licensing Actual Exam – Nova Scotia Association of REALTORS® (NSAR) / Nova Scotia Real Estate Commission – 2026/2027 Academic Year – Verified Questions and Answers for Professional Real Estate Licensing Candidates

NSAR SALESPERSON LICENSING ACTUAL EXAM – NOVA
SCOTIA ASSOCIATION OF REALTORS® (NSAR) / NOVA
SCOTIA REAL ESTATE COMMISSION – 2026/2027 ACADEMIC
YEAR – VERIFIED QUESTIONS AND ANSWERS FOR
PROFESSIONAL REAL ESTATE LICENSING CANDIDATES
NSAR/NSREC SALESPERSON LICENSING EXAMINATION
2026/2027 Comprehensive Practice Examination
Course: Salesperson Licensing Course (SLC)
Course Code: NSAR SLC
Institution/Administrator: Nova Scotia Association of REALTORS®
(NSAR)
Regulatory Authority: Nova Scotia Real Estate Commission (NSREC)
Academic Year: 2026/2027
Document Type: Comprehensive Practice Questions with Answers and
Detailed Rationales
Prepared for: Professional Real Estate Licensing Candidates
Important: This is an original study and practice examination.

TABLE OF CONTENTS

1. Licensing, Regulation and Professional Practice — Questions 1–15

2. Agency and Representation — Questions 16–30

3. Trading Practices, Ethics and Professional Conduct — Questions 31–45

4. Contracts and Agreements — Questions 46–60

5. Property Ownership and Legal Concepts — Questions 61–72

6. Real Estate Finance and Mortgages — Questions 73–84

7. Valuation, Market Analysis and Appraisal — Questions 85–94

8. Property Management, Taxation and Closing — Questions 95–105

, 9. Integrated Case-Based Questions — Questions 106–110



SECTION 1 — LICENSING, REGULATION AND PROFESSIONAL PRACTICE

Question 1 — Multiple Choice

Which organization is responsible for licensing and regulating real estate professionals in Nova
Scotia?

A. Nova Scotia Association of REALTORS®
B. Nova Scotia Real Estate Commission
C. Canada Mortgage and Housing Corporation
D. Nova Scotia Department of Finance

Correct answer: B. Nova Scotia Real Estate Commission

Rationale: The Nova Scotia Real Estate Commission (NSREC) is the provincial regulatory body
responsible for licensing and regulating real estate persons and brokerages. NSAR is a
professional association rather than the provincial licensing regulator. The distinction is
fundamental to professional practice in Nova Scotia.



Question 2 — Multiple Choice

Which organization administers the Nova Scotia Salesperson Licensing Course?
A. NSREC
B. NSAR
C. Service Nova Scotia
D. CREA
Correct answer: B. NSAR

Rationale: The Salesperson Licensing Course is administered by the Nova Scotia Association of
REALTORS® (NSAR). The NSREC establishes licensing requirements and administers the
licensing examination and regulatory framework.



Question 3 — Multiple Choice

What is the current minimum passing mark for the Nova Scotia Salesperson Licensing
Examination?

A. 60%
B. 65%

,C. 70%
D. 70.4%

Correct answer: D. 70.4%
Rationale: The current NSREC By-law specifies a minimum passing score of 70.4% for the
Salesperson Licensing Examination. Candidates should distinguish this figure from rounded
percentages that may appear in older study materials.



Question 4 — Short Answer
How long does a candidate have after completing the Salesperson Licensing Course to pass the
licensing examination?

Correct answer: One year.

Rationale: NSREC's current first-time applicant guidance states that after completing the
Salesperson Licensing Course, the candidate has one year to pass the licensing examination. A
candidate should therefore plan examination preparation within that period rather than assuming
course completion creates an unlimited eligibility period.



Question 5 — Multiple Choice

How many attempts are currently permitted for the Salesperson Licensing Examination?
A. One
B. Two
C. Three
D. Unlimited attempts within one year
Correct answer: B. Two

Rationale: Candidates are allowed a maximum of two examination attempts. If unsuccessful on
both attempts, the applicable re-entry requirements must be followed before taking the licensing
course again.



Question 6 — Multiple Choice

Which statement best describes the Real Estate Trading Act?

A. It is a federal taxation statute.
B. It establishes the NSREC as the regulatory body for real estate in Nova Scotia.

, C. It is a REALTOR® membership agreement.
D. It regulates only commercial leasing.

Correct answer: B.
Rationale: The Real Estate Trading Act establishes the Nova Scotia Real Estate Commission as
the regulatory body for the province's real estate industry. The Commission's By-law and policies
operate within this regulatory framework.



Question 7 — Multiple Choice
Which of the following is a primary purpose of real estate regulation?

A. Guaranteeing profits for licensees
B. Eliminating competition between brokerages
C. Protecting the public and promoting competent, ethical practice
D. Setting the market value of all properties

Correct answer: C.

Rationale: Real estate regulation is designed to protect consumers and establish professional
standards. It does not guarantee profitability, eliminate competition, or determine the market
value of individual properties.



Question 8 — Short Answer

State one major distinction between NSREC and NSAR.

Correct answer: NSREC is the regulatory/licensing authority; NSAR is a professional
association serving REALTORS® and administering the Salesperson Licensing Course.
Rationale: Confusing the regulator with the professional association can lead to errors about
licensing, disciplinary authority, education and professional membership. NSREC is responsible
for regulation and licensing, while NSAR provides professional association services and
administers the licensing course.



Question 9 — Multiple Choice

A person applying for a first-time salesperson licence must generally be at least:

A. 18 years old
B. 19 years old