Humber Real Estate Graded Aplus Question Collection With Detailed Solution Coverage

HUMBER REAL ESTATE GRADED APLUS
QUESTION COLLECTION WITH DETAILED
SOLUTION COVERAGE

●● When a brokerage has a property for sale, what is the brokerage
identified as?
Answer: The listing brokerage


●● When a brokerage is working with a buyer, what is the brokerage
identified as?
Answer: The co-operating brokerage
OR
The buyer's brokerage (when it's a private sale, because the buyer's is the
only brokerage listed in the agreement as the seller doesn't have one)


●● Does every branch office require a Broker of Record?
Answer: No.
Only 1 Broker of Record is required for the main office only. Each
branch office is assigned its own Branch Manager to provide
supervision, compliance with REBBA & handle all record management.


●● The term 'Seller' (used by REBBA) is synonymous with the term
'__________' which may be used in other legislation.

, Answer: Vendor


●● The term 'Buyer' (used by REBBA) is synonymous with the term
'__________' which may be used in other legislation.
Answer: Purchaser


●● What is another term for 'Landlord'?
Answer: Lessor


●● What is another term for 'Tenant'?
Answer: Lessee


●● "A borrower __________ the mortgage and the lender __________
the financing."
Answer: gives


●● Instead of the term 'Mortgage' (which is used under the Registry
Act), what term is used under the Land Titles Act?
Answer: Charge


●● What is another term for 'Lender' under the Registry Act?
Answer: Mortgagee