OACIQ EXAM /OACIQ PRACTICE EXAM
2025/2026 WITH ACTUAL CORRECT
QUESTIONS AND VERIFIED DETAILED
ANSWERS |FREQUENTLY TESTED
QUESTIONS AND SOLUTIONS|ALREADY
GRADED A+|BRAND NEW VERSION
!!|GUARANTEED PASS
Describes the 2 steps to enter into brokerage contract
Verification of identity and verification of legal capacity ( marriage contract )
What documents can brokers use to identify clients' capacity to be a party to brokerage
transactions
- Deed of sale
- Matrimonial regime
- Notarized power of attorney ( mandatory )
- Declaration of transmission ( liquidator )
- Resolution of board od directors
Describe 2 situations where you must use IV form
1. unrepresented party
2. identify in transactions
What conditions must a license holder acting on behalf of an agency Me to allow to carry out
activities within a business corporation? What condition
Definition broker acting on behalf of an agency is authorized to carry out within an
incorporation. However, they must hold at least 90% of the corporation shares, to be president
of the corporation and have provided the OS stick with all information and documents
pertaining to their application.
List the general requirements of the regulations respecting brokerage requirements,
professional conduct of broker and advertising
1|Page
,Disclosure of professional status
Disclosure of conflict of interest
To not discriminate
Verifying information and its accuracy
Eluding liability
Do not lend your name
Remuneration based on price difference
Do not lend or use property
Do not delay over property
Always use the most recent version of forms
what obligations does the license holder have to the party not represented in a transaction?
Broker must promptly notify any other unrepresented party, that they are obligated to protect
and promote the interest of the party, that they do represent while treating the unrepresented
party, fairly, and that the unrepresented party made do business with another broker of their
choosing
Can a license hold the represent both parties into a transaction
no, this is double representation, which is prohibited since June 10, 2022, but there are two
exceptions:
When the broker of the seller and the broker of the buyer are different, but work for the same
real estate agency
or
When there is not another broker in 50 km radius from a property that can represent the buyer
-In both cases, the brokerage contract can be maintained by having an accepted written notice
by the buyer before the transaction proposal.
under what circumstances is a license holder in conflict of interest in real estate brokerage trans
if they have an interest or offer to acquire an interest in an immovable or enterprise that is
subject of a sale, purchase or exchange. Also, if they act or offered to act as a lender on a loan,
secured by immovable hypnotic.
what happens if a broker fails to meet their obligation when having a conflict of interest?
Anyone to whom this information is owed may as long as the deed of sale has not been signed
by the parties, withdrawal, without penalty from any promised to purchase, accepted or not,
concerning the removable or enterprise, by sending, or issuing a written notice to the party,
including any consequences that may result
2|Page
,What must a license holder do if they wish to acquire a Director indirect interest in an
immovable business that they have been hired to sell
Conclude the role as an intermediary by obtaining all responses from buyers and allowing all
promises to purchase and counterpose to run their course without telling the seller what their
own intentions are
-Notify the seller they wish to purchase their removable without disclosing the contents of their
offer
-Cancel the brokerage contract, terminate the role as in intermediaries
-Fill out a purchase sale exchange notice of disclosure, stating that they would like to buy the
moveable and make the declaration required in the form
-Advise the seller that they are unable to represent them, and they have the right to be
represented by another broker of their choice, failing which the transaction will not be covered
by FARCIQ
-Ask her to sign an initial the notice of disclosure
-They must present their promised to purchase
what professional actions must the real estate broker take if they want to stop acting on behalf
of one agency to act on behalf of another agency or their own
Notify the agency executive office
Immediately informed the parties that they represent of their options and writing of what to do
Notify DOACIQ of departure from the agency, whether suspension or leave
Notify the OACIQ of the new contact information
What options are available to client whose broker is no longer working on their own account
because they have ceased their brokerage
None because a brokerage contract that has been entered in two is deemed to be cancelled
upon cessation of the broker conductivity
How do you verify for verification of legal capacity?
The license holder must consult the law register of Quebec and verify the names of the owner
mentioned in the deed of sale. If the client involved are not the legal owners of the license sold,
or must obtain a document attesting to the legal capacity of the representatives.
What document can a license holder use to verify clients capacity to a party in a brokerage
3|Page
, The deed sale matrimonial regimes ( married, common law, etc. )
A notarized power of attorney ( mandatary )
A declaration of transmission ( liquidator )
A resolution of board ( corporation )
Name two situations where you must use identity verification form
To verify the identity of the unrepresented party to a transaction, and to verify the buyers
identity and promised to purchase
What professional actions will you take with respect to the confidentiality of the information
contained in the IV form
The form cannot be attached to any other form. Once completed, it will be placed in the file of
transactions in question to preserve the confidentiality of the information.
why is the identity verification included in the brokerage contract and not the promised to
purchase
Because the brokerage contract binds the client with the license holder, so the clients identity is
strictly confidential and remains between the client and the license holder
Where is the promised to purchase the buyer and the seller And the identification verification
becomes the information containing a promise to purchase, is communicated to several
individuals
What conditions, most licensed holder acting on behalf of an agency meet you allowed to carry
out their activities with a business corporation?
A broker acting on behalf of an agencies is authorized to carry out activities with an
incorporation. However, they must hold at least 90% of the corporation shares, be the president
of the corporation and have provided the OACIQ with all the information and documents their
application
Can a broker acting under their own account operate within a business corporation
no. Talk to dirty do not permit an independent broker to operate within a business corporation
to practice real estate brokerage.
Can a license holder reduce the remuneration
4|Page
2025/2026 WITH ACTUAL CORRECT
QUESTIONS AND VERIFIED DETAILED
ANSWERS |FREQUENTLY TESTED
QUESTIONS AND SOLUTIONS|ALREADY
GRADED A+|BRAND NEW VERSION
!!|GUARANTEED PASS
Describes the 2 steps to enter into brokerage contract
Verification of identity and verification of legal capacity ( marriage contract )
What documents can brokers use to identify clients' capacity to be a party to brokerage
transactions
- Deed of sale
- Matrimonial regime
- Notarized power of attorney ( mandatory )
- Declaration of transmission ( liquidator )
- Resolution of board od directors
Describe 2 situations where you must use IV form
1. unrepresented party
2. identify in transactions
What conditions must a license holder acting on behalf of an agency Me to allow to carry out
activities within a business corporation? What condition
Definition broker acting on behalf of an agency is authorized to carry out within an
incorporation. However, they must hold at least 90% of the corporation shares, to be president
of the corporation and have provided the OS stick with all information and documents
pertaining to their application.
List the general requirements of the regulations respecting brokerage requirements,
professional conduct of broker and advertising
1|Page
,Disclosure of professional status
Disclosure of conflict of interest
To not discriminate
Verifying information and its accuracy
Eluding liability
Do not lend your name
Remuneration based on price difference
Do not lend or use property
Do not delay over property
Always use the most recent version of forms
what obligations does the license holder have to the party not represented in a transaction?
Broker must promptly notify any other unrepresented party, that they are obligated to protect
and promote the interest of the party, that they do represent while treating the unrepresented
party, fairly, and that the unrepresented party made do business with another broker of their
choosing
Can a license hold the represent both parties into a transaction
no, this is double representation, which is prohibited since June 10, 2022, but there are two
exceptions:
When the broker of the seller and the broker of the buyer are different, but work for the same
real estate agency
or
When there is not another broker in 50 km radius from a property that can represent the buyer
-In both cases, the brokerage contract can be maintained by having an accepted written notice
by the buyer before the transaction proposal.
under what circumstances is a license holder in conflict of interest in real estate brokerage trans
if they have an interest or offer to acquire an interest in an immovable or enterprise that is
subject of a sale, purchase or exchange. Also, if they act or offered to act as a lender on a loan,
secured by immovable hypnotic.
what happens if a broker fails to meet their obligation when having a conflict of interest?
Anyone to whom this information is owed may as long as the deed of sale has not been signed
by the parties, withdrawal, without penalty from any promised to purchase, accepted or not,
concerning the removable or enterprise, by sending, or issuing a written notice to the party,
including any consequences that may result
2|Page
,What must a license holder do if they wish to acquire a Director indirect interest in an
immovable business that they have been hired to sell
Conclude the role as an intermediary by obtaining all responses from buyers and allowing all
promises to purchase and counterpose to run their course without telling the seller what their
own intentions are
-Notify the seller they wish to purchase their removable without disclosing the contents of their
offer
-Cancel the brokerage contract, terminate the role as in intermediaries
-Fill out a purchase sale exchange notice of disclosure, stating that they would like to buy the
moveable and make the declaration required in the form
-Advise the seller that they are unable to represent them, and they have the right to be
represented by another broker of their choice, failing which the transaction will not be covered
by FARCIQ
-Ask her to sign an initial the notice of disclosure
-They must present their promised to purchase
what professional actions must the real estate broker take if they want to stop acting on behalf
of one agency to act on behalf of another agency or their own
Notify the agency executive office
Immediately informed the parties that they represent of their options and writing of what to do
Notify DOACIQ of departure from the agency, whether suspension or leave
Notify the OACIQ of the new contact information
What options are available to client whose broker is no longer working on their own account
because they have ceased their brokerage
None because a brokerage contract that has been entered in two is deemed to be cancelled
upon cessation of the broker conductivity
How do you verify for verification of legal capacity?
The license holder must consult the law register of Quebec and verify the names of the owner
mentioned in the deed of sale. If the client involved are not the legal owners of the license sold,
or must obtain a document attesting to the legal capacity of the representatives.
What document can a license holder use to verify clients capacity to a party in a brokerage
3|Page
, The deed sale matrimonial regimes ( married, common law, etc. )
A notarized power of attorney ( mandatary )
A declaration of transmission ( liquidator )
A resolution of board ( corporation )
Name two situations where you must use identity verification form
To verify the identity of the unrepresented party to a transaction, and to verify the buyers
identity and promised to purchase
What professional actions will you take with respect to the confidentiality of the information
contained in the IV form
The form cannot be attached to any other form. Once completed, it will be placed in the file of
transactions in question to preserve the confidentiality of the information.
why is the identity verification included in the brokerage contract and not the promised to
purchase
Because the brokerage contract binds the client with the license holder, so the clients identity is
strictly confidential and remains between the client and the license holder
Where is the promised to purchase the buyer and the seller And the identification verification
becomes the information containing a promise to purchase, is communicated to several
individuals
What conditions, most licensed holder acting on behalf of an agency meet you allowed to carry
out their activities with a business corporation?
A broker acting on behalf of an agencies is authorized to carry out activities with an
incorporation. However, they must hold at least 90% of the corporation shares, be the president
of the corporation and have provided the OACIQ with all the information and documents their
application
Can a broker acting under their own account operate within a business corporation
no. Talk to dirty do not permit an independent broker to operate within a business corporation
to practice real estate brokerage.
Can a license holder reduce the remuneration
4|Page
