LATEST OACIQ EXAM 2026/2027 PREP QUESTIONS AND STUDY
GUIDE REAL EXAM COMPLETE ACCURATE QUESTIONS AND
CORRECT VERIFIED ANSWERS WITH DETAILED RATIONALES (A
NEW UPDATED VERSION 2026 EDITION) |GUARANTEED SUCCESS A+
(BRAND NEW!) FULL REVISED OACIQ ACTUAL EXAM
1. The primary mission of the Organisme d’autoréglementation du courtage
immobilier du Québec (OACIQ) is to:
A) Promote the interests of real estate brokers above all else.
B) Maximize profits for real estate agencies in Quebec.
C) Protect the public by enforcing the Real Estate Brokerage Act and its
regulations.
D) Provide legal advice to consumers involved in real estate transactions.
Correct Answer: C) Protect the public by enforcing the Real Estate Brokerage Act
and its regulations.
Rationale: The OACIQ's fundamental mandate, as defined by the Real Estate
Brokerage Act, is to protect the public. It achieves this by overseeing the practice
of the profession, ensuring brokers and agencies comply with the law and
regulations, and handling complaints against licensees. Options A and B are
incorrect as they focus on industry interests, not public protection. Option D is
incorrect because OACIQ does not provide legal advice.
2. According to the Real Estate Brokerage Act, which of the following activities is
exclusively reserved for a licensed real estate broker?
A) Providing a general opinion on the potential market value of a property.
B) Acting on behalf of another person in a real estate transaction for a commission
or other consideration.
,C) Showing a property to a potential buyer as a favor to a friend without any
compensation.
D) Preparing a comparative market analysis for a bank as part of a loan appraisal.
Correct Answer: B) Acting on behalf of another person in a real estate transaction
for a commission or other consideration.
Rationale: The act of "brokerage" is defined as acting on behalf of another person
in a real estate transaction in return for a commission or other consideration. This
is the core activity that requires a license. Option A is too vague; a "general
opinion" could be non-binding and not constitute brokerage. Option C is a personal
favor without consideration and does not require a license. Option D is typically
performed by an appraiser or an employee of the bank, not a real estate broker
acting as a broker.
3. A real estate broker suspects that a client is involved in money laundering. What
is the broker's primary obligation under the law?
A) Inform the client that they are suspected of money laundering.
B) Report the suspicious transaction to the Financial Transactions and Reports
Analysis Centre of Canada (FINTRAC).
C) Refuse to proceed with the transaction and immediately terminate the agency
agreement.
D) Ignore the suspicion to avoid violating client confidentiality.
Correct Answer: B) Report the suspicious transaction to the Financial Transactions
and Reports Analysis Centre of Canada (FINTRAC).
Rationale: Real estate brokers are subject to the Proceeds of Crime (Money
Laundering) and Terrorist Financing Act. They have a legal duty to report any
suspicious transactions to FINTRAC. They must not tip off the client (Option A),
which would be a criminal offense. Refusing to proceed (Option C) without
reporting is insufficient and potentially illegal. Option D is illegal and unethical.
,4. A brokerage contract must be in writing and must contain specific mandatory
clauses. What is one of the essential elements that must be included in a brokerage
contract?
A) A minimum price at which the property must be sold.
B) A complete list of all potential buyers the broker intends to contact.
C) The expiry date of the contract.
D) A guarantee from the broker that the property will be sold.
Correct Answer: C) The expiry date of the contract.
Rationale: The Real Estate Brokerage Act and its regulations stipulate that a
brokerage contract must have a fixed expiry date. Setting a minimum price (Option
A) is not mandatory but is a common element; the contract can be open-ended on
price. A list of buyers (Option B) is not required. A guarantee of sale (Option D) is
illegal; a broker cannot guarantee the sale of a property.
5. What is the maximum duration of an exclusive brokerage contract for the sale of
a residential property under normal circumstances?
A) 3 months.
B) 6 months.
C) 12 months.
D) There is no maximum duration, but it must have a specific expiry date.
Correct Answer: D) There is no maximum duration, but it must have a specific
expiry date.
Rationale: The Real Estate Brokerage Act does not specify a maximum duration
for a brokerage contract. It only requires that the contract has a definite and
specified expiry date. The duration is a negotiable term between the broker and the
, client. Options A, B, and C are incorrect because they arbitrarily set maximums
that do not exist in the law.
6. In the context of a brokerage contract, the "seller's net price" is:
A) The full sale price of the property before any deductions.
B) The price agreed upon between the seller and the broker, which is the minimum
amount the seller wishes to receive after all broker fees and other charges are
deducted.
C) The asking price set by the seller.
D) The appraised market value of the property.
Correct Answer: B) The price agreed upon between the seller and the broker,
which is the minimum amount the seller wishes to receive after all broker fees and
other charges are deducted.
Rationale: The seller’s net price is a key concept. It represents the minimum
amount the seller wants to receive at the end of the transaction after paying the
broker's commission and other agreed-upon costs. It is the figure from which the
broker calculates their commission. Option A is the gross sale price; Option C is
just the initial asking price; Option D is a valuation, not a negotiated figure.
7. If a seller signs an exclusive brokerage contract and then finds a buyer on their
own, they are still obligated to pay the commission to the broker. This is known as:
A) The "holdover" clause.
B) The "reduction" clause.
C) The "protection" clause.
D) The "penalty" clause.
Correct Answer: C) The "protection" clause.
GUIDE REAL EXAM COMPLETE ACCURATE QUESTIONS AND
CORRECT VERIFIED ANSWERS WITH DETAILED RATIONALES (A
NEW UPDATED VERSION 2026 EDITION) |GUARANTEED SUCCESS A+
(BRAND NEW!) FULL REVISED OACIQ ACTUAL EXAM
1. The primary mission of the Organisme d’autoréglementation du courtage
immobilier du Québec (OACIQ) is to:
A) Promote the interests of real estate brokers above all else.
B) Maximize profits for real estate agencies in Quebec.
C) Protect the public by enforcing the Real Estate Brokerage Act and its
regulations.
D) Provide legal advice to consumers involved in real estate transactions.
Correct Answer: C) Protect the public by enforcing the Real Estate Brokerage Act
and its regulations.
Rationale: The OACIQ's fundamental mandate, as defined by the Real Estate
Brokerage Act, is to protect the public. It achieves this by overseeing the practice
of the profession, ensuring brokers and agencies comply with the law and
regulations, and handling complaints against licensees. Options A and B are
incorrect as they focus on industry interests, not public protection. Option D is
incorrect because OACIQ does not provide legal advice.
2. According to the Real Estate Brokerage Act, which of the following activities is
exclusively reserved for a licensed real estate broker?
A) Providing a general opinion on the potential market value of a property.
B) Acting on behalf of another person in a real estate transaction for a commission
or other consideration.
,C) Showing a property to a potential buyer as a favor to a friend without any
compensation.
D) Preparing a comparative market analysis for a bank as part of a loan appraisal.
Correct Answer: B) Acting on behalf of another person in a real estate transaction
for a commission or other consideration.
Rationale: The act of "brokerage" is defined as acting on behalf of another person
in a real estate transaction in return for a commission or other consideration. This
is the core activity that requires a license. Option A is too vague; a "general
opinion" could be non-binding and not constitute brokerage. Option C is a personal
favor without consideration and does not require a license. Option D is typically
performed by an appraiser or an employee of the bank, not a real estate broker
acting as a broker.
3. A real estate broker suspects that a client is involved in money laundering. What
is the broker's primary obligation under the law?
A) Inform the client that they are suspected of money laundering.
B) Report the suspicious transaction to the Financial Transactions and Reports
Analysis Centre of Canada (FINTRAC).
C) Refuse to proceed with the transaction and immediately terminate the agency
agreement.
D) Ignore the suspicion to avoid violating client confidentiality.
Correct Answer: B) Report the suspicious transaction to the Financial Transactions
and Reports Analysis Centre of Canada (FINTRAC).
Rationale: Real estate brokers are subject to the Proceeds of Crime (Money
Laundering) and Terrorist Financing Act. They have a legal duty to report any
suspicious transactions to FINTRAC. They must not tip off the client (Option A),
which would be a criminal offense. Refusing to proceed (Option C) without
reporting is insufficient and potentially illegal. Option D is illegal and unethical.
,4. A brokerage contract must be in writing and must contain specific mandatory
clauses. What is one of the essential elements that must be included in a brokerage
contract?
A) A minimum price at which the property must be sold.
B) A complete list of all potential buyers the broker intends to contact.
C) The expiry date of the contract.
D) A guarantee from the broker that the property will be sold.
Correct Answer: C) The expiry date of the contract.
Rationale: The Real Estate Brokerage Act and its regulations stipulate that a
brokerage contract must have a fixed expiry date. Setting a minimum price (Option
A) is not mandatory but is a common element; the contract can be open-ended on
price. A list of buyers (Option B) is not required. A guarantee of sale (Option D) is
illegal; a broker cannot guarantee the sale of a property.
5. What is the maximum duration of an exclusive brokerage contract for the sale of
a residential property under normal circumstances?
A) 3 months.
B) 6 months.
C) 12 months.
D) There is no maximum duration, but it must have a specific expiry date.
Correct Answer: D) There is no maximum duration, but it must have a specific
expiry date.
Rationale: The Real Estate Brokerage Act does not specify a maximum duration
for a brokerage contract. It only requires that the contract has a definite and
specified expiry date. The duration is a negotiable term between the broker and the
, client. Options A, B, and C are incorrect because they arbitrarily set maximums
that do not exist in the law.
6. In the context of a brokerage contract, the "seller's net price" is:
A) The full sale price of the property before any deductions.
B) The price agreed upon between the seller and the broker, which is the minimum
amount the seller wishes to receive after all broker fees and other charges are
deducted.
C) The asking price set by the seller.
D) The appraised market value of the property.
Correct Answer: B) The price agreed upon between the seller and the broker,
which is the minimum amount the seller wishes to receive after all broker fees and
other charges are deducted.
Rationale: The seller’s net price is a key concept. It represents the minimum
amount the seller wants to receive at the end of the transaction after paying the
broker's commission and other agreed-upon costs. It is the figure from which the
broker calculates their commission. Option A is the gross sale price; Option C is
just the initial asking price; Option D is a valuation, not a negotiated figure.
7. If a seller signs an exclusive brokerage contract and then finds a buyer on their
own, they are still obligated to pay the commission to the broker. This is known as:
A) The "holdover" clause.
B) The "reduction" clause.
C) The "protection" clause.
D) The "penalty" clause.
Correct Answer: C) The "protection" clause.
