Lola start her busy day with a task list. Which following tasks should she consider scheduling
for a later time? - ANSWER Managing social media and online presence
Licensee Elliel's buyer client wants to submit an offer with no conditions on an appealing
house after a year-long search . What is Eliel's responsibility? - ANSWER Inform the
client about the risks of condition-free offer
From a brokerage perspective, which mortgage fraud prevention practices should be in
places?
I. Implementing training on RECA's mortgage fraud red flags detection and prevention
II. Implement training on the offices policies and procedure for mortgages fraud detection
and prevention
III. Submit the office policies and procedures for mortgage fraud detection and prevention to
RECA for review.
IV. Regularly review and update the office policies an procedures for mortgage fraud
detection and prevention. - ANSWER I, II, and IV
Why the Statue of Frauds require certain contracts be in writing? - ANSWER Written
contracts are easier to prove and enforce.
What is the potential drawback of submitting a low ball offer in negotiations? -
ANSWER It may insult the seller and jeopardize negotiations
Victor is a licensee representing Lindsey. Victor receives a call from a prospective buyer who
would be interested in viewing the property. Lindsey gives victor instructions to refuse the
property, and explains that due to political climate, she would not feel comfortable in selling
1
, her property to with the buyer's nationality. What should be Victor do? -
ANSWER Explain to Lindsey that what she is instructing is housing discrimination.
The seller: - ANSWER Is in control in a multiple offer situation
Under the Residential Tenancies Act, when can a landlord enter a tenant's leased premises
without consent or notice?
I. when access is needed for the fire department to check for the source of the fire.
II. When the tenant has not paid for two months, newspapers are accumulating.
III. When there is a water leak in a unit, and the landlord needs to identify the source of the
leak
IV. When the tenant is not present, and the landlord wishes to enter for routine
maintenance. - ANSWER I, II, and IV
To confirm who prospective buyers or sellers are for the first meeting, licensees should take
which two of the following actions?
I. Have the first meeting a the brokerage office or in a public area II. Do some internet
research to learn more about the prospects
III. Perform a credit score check to confirm their financial eligibility.
IV. Request a letter of recommendation or contact details - ANSWER I and II
Which of the following statements is correct regarding a leasehold estate? -
ANSWER Leases with terms of three years or less are not required to be registered at
the Land Titles Office.
What method is most effective in ensuring you have delivered precise information to your
client? - ANSWER Schedule frequent meetings with your client to review information
accuracy.
Licensee Dave receives a call about a missing key of a property, as Dave has been the last
person to open the key box. Dave had opened the box but his colleague Allegra, the next
2
for a later time? - ANSWER Managing social media and online presence
Licensee Elliel's buyer client wants to submit an offer with no conditions on an appealing
house after a year-long search . What is Eliel's responsibility? - ANSWER Inform the
client about the risks of condition-free offer
From a brokerage perspective, which mortgage fraud prevention practices should be in
places?
I. Implementing training on RECA's mortgage fraud red flags detection and prevention
II. Implement training on the offices policies and procedure for mortgages fraud detection
and prevention
III. Submit the office policies and procedures for mortgage fraud detection and prevention to
RECA for review.
IV. Regularly review and update the office policies an procedures for mortgage fraud
detection and prevention. - ANSWER I, II, and IV
Why the Statue of Frauds require certain contracts be in writing? - ANSWER Written
contracts are easier to prove and enforce.
What is the potential drawback of submitting a low ball offer in negotiations? -
ANSWER It may insult the seller and jeopardize negotiations
Victor is a licensee representing Lindsey. Victor receives a call from a prospective buyer who
would be interested in viewing the property. Lindsey gives victor instructions to refuse the
property, and explains that due to political climate, she would not feel comfortable in selling
1
, her property to with the buyer's nationality. What should be Victor do? -
ANSWER Explain to Lindsey that what she is instructing is housing discrimination.
The seller: - ANSWER Is in control in a multiple offer situation
Under the Residential Tenancies Act, when can a landlord enter a tenant's leased premises
without consent or notice?
I. when access is needed for the fire department to check for the source of the fire.
II. When the tenant has not paid for two months, newspapers are accumulating.
III. When there is a water leak in a unit, and the landlord needs to identify the source of the
leak
IV. When the tenant is not present, and the landlord wishes to enter for routine
maintenance. - ANSWER I, II, and IV
To confirm who prospective buyers or sellers are for the first meeting, licensees should take
which two of the following actions?
I. Have the first meeting a the brokerage office or in a public area II. Do some internet
research to learn more about the prospects
III. Perform a credit score check to confirm their financial eligibility.
IV. Request a letter of recommendation or contact details - ANSWER I and II
Which of the following statements is correct regarding a leasehold estate? -
ANSWER Leases with terms of three years or less are not required to be registered at
the Land Titles Office.
What method is most effective in ensuring you have delivered precise information to your
client? - ANSWER Schedule frequent meetings with your client to review information
accuracy.
Licensee Dave receives a call about a missing key of a property, as Dave has been the last
person to open the key box. Dave had opened the box but his colleague Allegra, the next
2
