1
NSAR SALESPERSON LICENSING PRACTICE
EXAM 2026/2027 | NOVA SCOTIA | 75
VERIFIED Q&A | DETAILED RATIONALES |
PASS GUARANTEED – A+ GRADED
SECTION 1: NOVA SCOTIA REAL ESTATE REGULATION - Questions 1-8
Q1: Regulatory Authority
The student is reviewing Nova Scotia real estate regulation. Which body is responsible for
administering the Real Estate Services Act?
A. Nova Scotia Real Estate Commission (NSREC)
B. Nova Scotia Association of Realtors (NSAR)
C. Service Nova Scotia
D. Consumer Protection BC
Correct Answer: A
Rationale: The NSREC is the independent regulatory body that administers the Real Estate Services
Act, licenses professionals, and enforces standards. [100% CORRECT]
Q2: Licensing Requirement
The student is reviewing licensing. What must a salesperson complete before obtaining a licence in
Nova Scotia?
A. An approved pre-licensing course and exam
B. A university degree in business
C. Five years of sales experience
D. A mortgage broker licence
Correct Answer: A
Rationale: Applicants must complete an approved pre-licensing education program, pass the
licensing exam, and be employed by a licensed brokerage. [100% CORRECT]
Q3: Trust Accounts
The student is reviewing trust funds. Where must a brokerage hold trust funds?
A. In a separate trust account at a financial institution
B. In the brokerage's general account
C. In the salesperson's personal account
D. With the NSREC
Correct Answer: A
Rationale: Trust funds must be held in a designated trust account and not commingled with
operating funds. [100% CORRECT]
,2
Q4: Record Retention
The student is reviewing records. How long must a brokerage retain real estate records in Nova
Scotia?
A. 5 years
B. 2 years
C. 10 years
D. 1 year
Correct Answer: A
Rationale: The Real Estate Services Act requires records to be retained for at least 5 years. [100%
CORRECT]
Q5: Errors and Omissions Insurance
The student is reviewing insurance. What insurance must a brokerage carry?
A. Errors and Omissions (E&O) insurance
B. Life insurance
C. Health insurance
D. Auto insurance
Correct Answer: A
Rationale: Brokerages must maintain E&O insurance to protect against claims of negligence. [100%
CORRECT]
Q6: Licence Renewal
The student is reviewing licensing. How often must a salesperson licence be renewed?
A. Annually
B. Every 2 years
C. Every 3 years
D. Every 5 years
Correct Answer: A
Rationale: Real estate licences in Nova Scotia must be renewed annually with continuing education.
[100% CORRECT]
Q7: Continuing Education
The student is reviewing CE. What is required for licence renewal?
A. Completion of approved continuing education courses
B. A minimum number of sales
C. A letter from the brokerage
D. A criminal record check only
Correct Answer: A
Rationale: The NSREC requires approved continuing education for annual renewal. [100% CORRECT]
, 3
Q8: Discipline
The student is reviewing enforcement. What can the NSREC do if a licensee violates the Act?
A. Suspend or revoke the licence, impose fines, or require education
B. Only issue a warning
C. Do nothing
D. Refer to police only
Correct Answer: A
Rationale: The NSREC has authority to discipline licensees, including suspension, revocation, fines,
and mandatory education. [100% CORRECT]
SECTION 2: AGENCY AND REPRESENTATION - Questions 9-16
Q9: Agency Relationship
The student is reviewing agency. What is an agency relationship?
A. A fiduciary relationship where the licensee acts in the client's best interest
B. A casual relationship
C. A customer relationship
D. A brokerage relationship
Correct Answer: A
Rationale: Agency is a fiduciary relationship with duties of loyalty, confidentiality, disclosure,
obedience, and accounting. [100% CORRECT]
Q10: Seller's Agent
The student is reviewing representation. Who does a seller's agent represent?
A. The seller
B. The buyer
C. Both parties
D. The lender
Correct Answer: A
Rationale: A seller's agent owes fiduciary duties to the seller. [100% CORRECT]
Q11: Buyer's Agent
The student is reviewing representation. Who does a buyer's agent represent?
A. The buyer
B. The seller
C. Both parties
D. The lender
Correct Answer: A
Rationale: A buyer's agent owes fiduciary duties to the buyer. [100% CORRECT]
NSAR SALESPERSON LICENSING PRACTICE
EXAM 2026/2027 | NOVA SCOTIA | 75
VERIFIED Q&A | DETAILED RATIONALES |
PASS GUARANTEED – A+ GRADED
SECTION 1: NOVA SCOTIA REAL ESTATE REGULATION - Questions 1-8
Q1: Regulatory Authority
The student is reviewing Nova Scotia real estate regulation. Which body is responsible for
administering the Real Estate Services Act?
A. Nova Scotia Real Estate Commission (NSREC)
B. Nova Scotia Association of Realtors (NSAR)
C. Service Nova Scotia
D. Consumer Protection BC
Correct Answer: A
Rationale: The NSREC is the independent regulatory body that administers the Real Estate Services
Act, licenses professionals, and enforces standards. [100% CORRECT]
Q2: Licensing Requirement
The student is reviewing licensing. What must a salesperson complete before obtaining a licence in
Nova Scotia?
A. An approved pre-licensing course and exam
B. A university degree in business
C. Five years of sales experience
D. A mortgage broker licence
Correct Answer: A
Rationale: Applicants must complete an approved pre-licensing education program, pass the
licensing exam, and be employed by a licensed brokerage. [100% CORRECT]
Q3: Trust Accounts
The student is reviewing trust funds. Where must a brokerage hold trust funds?
A. In a separate trust account at a financial institution
B. In the brokerage's general account
C. In the salesperson's personal account
D. With the NSREC
Correct Answer: A
Rationale: Trust funds must be held in a designated trust account and not commingled with
operating funds. [100% CORRECT]
,2
Q4: Record Retention
The student is reviewing records. How long must a brokerage retain real estate records in Nova
Scotia?
A. 5 years
B. 2 years
C. 10 years
D. 1 year
Correct Answer: A
Rationale: The Real Estate Services Act requires records to be retained for at least 5 years. [100%
CORRECT]
Q5: Errors and Omissions Insurance
The student is reviewing insurance. What insurance must a brokerage carry?
A. Errors and Omissions (E&O) insurance
B. Life insurance
C. Health insurance
D. Auto insurance
Correct Answer: A
Rationale: Brokerages must maintain E&O insurance to protect against claims of negligence. [100%
CORRECT]
Q6: Licence Renewal
The student is reviewing licensing. How often must a salesperson licence be renewed?
A. Annually
B. Every 2 years
C. Every 3 years
D. Every 5 years
Correct Answer: A
Rationale: Real estate licences in Nova Scotia must be renewed annually with continuing education.
[100% CORRECT]
Q7: Continuing Education
The student is reviewing CE. What is required for licence renewal?
A. Completion of approved continuing education courses
B. A minimum number of sales
C. A letter from the brokerage
D. A criminal record check only
Correct Answer: A
Rationale: The NSREC requires approved continuing education for annual renewal. [100% CORRECT]
, 3
Q8: Discipline
The student is reviewing enforcement. What can the NSREC do if a licensee violates the Act?
A. Suspend or revoke the licence, impose fines, or require education
B. Only issue a warning
C. Do nothing
D. Refer to police only
Correct Answer: A
Rationale: The NSREC has authority to discipline licensees, including suspension, revocation, fines,
and mandatory education. [100% CORRECT]
SECTION 2: AGENCY AND REPRESENTATION - Questions 9-16
Q9: Agency Relationship
The student is reviewing agency. What is an agency relationship?
A. A fiduciary relationship where the licensee acts in the client's best interest
B. A casual relationship
C. A customer relationship
D. A brokerage relationship
Correct Answer: A
Rationale: Agency is a fiduciary relationship with duties of loyalty, confidentiality, disclosure,
obedience, and accounting. [100% CORRECT]
Q10: Seller's Agent
The student is reviewing representation. Who does a seller's agent represent?
A. The seller
B. The buyer
C. Both parties
D. The lender
Correct Answer: A
Rationale: A seller's agent owes fiduciary duties to the seller. [100% CORRECT]
Q11: Buyer's Agent
The student is reviewing representation. Who does a buyer's agent represent?
A. The buyer
B. The seller
C. Both parties
D. The lender
Correct Answer: A
Rationale: A buyer's agent owes fiduciary duties to the buyer. [100% CORRECT]
