1
NSAR SALESPERSON LICENSING TEST
BANK 2026/2027 | NOVA SCOTIA | 150
VERIFIED Q&A | DETAILED RATIONALES |
PASS GUARANTEED – A+ GRADED
SECTION 1: NOVA SCOTIA REAL ESTATE REGULATION AND LICENSING - Questions 1-20
Q1: Regulatory Body
The student is reviewing Nova Scotia real estate regulation. Which body administers the Real Estate
Services Act?
A. Nova Scotia Real Estate Commission (NSREC)
B. Nova Scotia Association of Realtors (NSAR)
C. Service Nova Scotia
D. Canada Mortgage and Housing Corporation (CMHC)
Correct Answer: A
Rationale: The NSREC is the independent regulatory body that administers the Real Estate Services
Act and regulates real estate professionals. [100% CORRECT]
Q2: Licensing Requirement
The student is reviewing licensing. What is required to obtain a salesperson licence in Nova Scotia?
A. Completion of an approved pre-licensing course and exam
B. A university degree
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: Employment Requirement
The student is reviewing licensing. A salesperson licence must be held by:
A. The brokerage on behalf of the salesperson
B. The salesperson personally
C. The Nova Scotia Association of Realtors
D. Service Nova Scotia
Correct Answer: A
Rationale: Salespersons must be licensed through a brokerage. The brokerage holds the licence and
supervises the salesperson. [100% CORRECT]
,2
Q4: Licence Renewal
The student is reviewing licensing. How often must a real estate salesperson licence be renewed in
Nova Scotia?
A. Annually
B. Every two years
C. Every three years
D. Every five years
Correct Answer: A
Rationale: Real estate licences in Nova Scotia must be renewed annually, with continuing education
requirements. [100% CORRECT]
Q5: Continuing Education
The student is reviewing licensing. What is a continuing education requirement for licence renewal?
A. Completion of approved continuing education courses
B. A minimum number of property sales
C. A letter from the brokerage
D. A criminal record check only
Correct Answer: A
Rationale: The NSREC requires licensees to complete approved continuing education courses each
year. [100% CORRECT]
Q6: Errors and Omissions Insurance
The student is reviewing insurance. What type of 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 or
errors. [100% CORRECT]
Q7: Trust Accounts
The student is reviewing trust funds. Where must a brokerage deposit trust funds?
A. In a designated trust account at a financial institution
B. In the brokerage's general operating account
C. In the salesperson's personal account
D. With the NSREC
Correct Answer: A
Rationale: Trust funds must be held in a separate trust account and not commingled with operating
funds. [100% CORRECT]
,3
Q8: Record Retention
The student is reviewing records. How long must a brokerage retain real estate records?
A. 5 years
B. 2 years
C. 10 years
D. Indefinitely
Correct Answer: A
Rationale: The Real Estate Services Act requires records to be retained for at least 5 years. [100%
CORRECT]
Q9: 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]
Q10: Real Estate Services Act
The student is reviewing legislation. What is the primary legislation governing real estate services in
Nova Scotia?
A. Real Estate Services Act
B. Real Estate and Business Brokers Act
C. Land Registration Act
D. Municipal Government Act
Correct Answer: A
Rationale: The Real Estate Services Act and its regulations govern licensing, conduct, and discipline.
[100% CORRECT]
Q11: Licence Categories
The student is reviewing licensing. Which licence category allows a person to operate a real estate
brokerage?
A. Broker licence
B. Salesperson licence
C. Associate broker licence
D. Managing broker licence
Correct Answer: A
Rationale: A broker licence is required to operate a brokerage. Salespersons and associate brokers
work under a broker. [100% CORRECT]
, 4
Q12: Managing Broker
The student is reviewing licensing. What is the role of a managing broker?
A. To supervise the brokerage's operations and licensees
B. To sell property only
C. To handle trust funds only
D. To represent buyers only
Correct Answer: A
Rationale: The managing broker is responsible for the brokerage's operations and supervision of
licensees. [100% CORRECT]
Q13: Associate Broker
The student is reviewing licensing. What is an associate broker?
A. A licensed broker who works under another broker
B. A salesperson
C. A managing broker
D. A broker who owns the brokerage
Correct Answer: A
Rationale: An associate broker holds a broker licence but works under the supervision of the
managing broker. [100% CORRECT]
Q14: Suspension
The student is reviewing discipline. What happens if a licence is suspended?
A. The licensee cannot practice until the suspension is lifted
B. The licensee can continue working
C. The licence is permanently revoked
D. The licensee can work for another brokerage
Correct Answer: A
Rationale: A suspended licence prohibits the licensee from practicing real estate during the
suspension period. [100% CORRECT]
Q15: Revocation
The student is reviewing discipline. What happens if a licence is revoked?
A. The licensee is permanently prohibited from practising
B. The licensee can reapply immediately
C. The licensee can continue working
D. The licensee can work as a salesperson
Correct Answer: A
Rationale: Revocation permanently cancels the licence, and the licensee may be prohibited from
reapplying for a period. [100% CORRECT]
NSAR SALESPERSON LICENSING TEST
BANK 2026/2027 | NOVA SCOTIA | 150
VERIFIED Q&A | DETAILED RATIONALES |
PASS GUARANTEED – A+ GRADED
SECTION 1: NOVA SCOTIA REAL ESTATE REGULATION AND LICENSING - Questions 1-20
Q1: Regulatory Body
The student is reviewing Nova Scotia real estate regulation. Which body administers the Real Estate
Services Act?
A. Nova Scotia Real Estate Commission (NSREC)
B. Nova Scotia Association of Realtors (NSAR)
C. Service Nova Scotia
D. Canada Mortgage and Housing Corporation (CMHC)
Correct Answer: A
Rationale: The NSREC is the independent regulatory body that administers the Real Estate Services
Act and regulates real estate professionals. [100% CORRECT]
Q2: Licensing Requirement
The student is reviewing licensing. What is required to obtain a salesperson licence in Nova Scotia?
A. Completion of an approved pre-licensing course and exam
B. A university degree
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: Employment Requirement
The student is reviewing licensing. A salesperson licence must be held by:
A. The brokerage on behalf of the salesperson
B. The salesperson personally
C. The Nova Scotia Association of Realtors
D. Service Nova Scotia
Correct Answer: A
Rationale: Salespersons must be licensed through a brokerage. The brokerage holds the licence and
supervises the salesperson. [100% CORRECT]
,2
Q4: Licence Renewal
The student is reviewing licensing. How often must a real estate salesperson licence be renewed in
Nova Scotia?
A. Annually
B. Every two years
C. Every three years
D. Every five years
Correct Answer: A
Rationale: Real estate licences in Nova Scotia must be renewed annually, with continuing education
requirements. [100% CORRECT]
Q5: Continuing Education
The student is reviewing licensing. What is a continuing education requirement for licence renewal?
A. Completion of approved continuing education courses
B. A minimum number of property sales
C. A letter from the brokerage
D. A criminal record check only
Correct Answer: A
Rationale: The NSREC requires licensees to complete approved continuing education courses each
year. [100% CORRECT]
Q6: Errors and Omissions Insurance
The student is reviewing insurance. What type of 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 or
errors. [100% CORRECT]
Q7: Trust Accounts
The student is reviewing trust funds. Where must a brokerage deposit trust funds?
A. In a designated trust account at a financial institution
B. In the brokerage's general operating account
C. In the salesperson's personal account
D. With the NSREC
Correct Answer: A
Rationale: Trust funds must be held in a separate trust account and not commingled with operating
funds. [100% CORRECT]
,3
Q8: Record Retention
The student is reviewing records. How long must a brokerage retain real estate records?
A. 5 years
B. 2 years
C. 10 years
D. Indefinitely
Correct Answer: A
Rationale: The Real Estate Services Act requires records to be retained for at least 5 years. [100%
CORRECT]
Q9: 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]
Q10: Real Estate Services Act
The student is reviewing legislation. What is the primary legislation governing real estate services in
Nova Scotia?
A. Real Estate Services Act
B. Real Estate and Business Brokers Act
C. Land Registration Act
D. Municipal Government Act
Correct Answer: A
Rationale: The Real Estate Services Act and its regulations govern licensing, conduct, and discipline.
[100% CORRECT]
Q11: Licence Categories
The student is reviewing licensing. Which licence category allows a person to operate a real estate
brokerage?
A. Broker licence
B. Salesperson licence
C. Associate broker licence
D. Managing broker licence
Correct Answer: A
Rationale: A broker licence is required to operate a brokerage. Salespersons and associate brokers
work under a broker. [100% CORRECT]
, 4
Q12: Managing Broker
The student is reviewing licensing. What is the role of a managing broker?
A. To supervise the brokerage's operations and licensees
B. To sell property only
C. To handle trust funds only
D. To represent buyers only
Correct Answer: A
Rationale: The managing broker is responsible for the brokerage's operations and supervision of
licensees. [100% CORRECT]
Q13: Associate Broker
The student is reviewing licensing. What is an associate broker?
A. A licensed broker who works under another broker
B. A salesperson
C. A managing broker
D. A broker who owns the brokerage
Correct Answer: A
Rationale: An associate broker holds a broker licence but works under the supervision of the
managing broker. [100% CORRECT]
Q14: Suspension
The student is reviewing discipline. What happens if a licence is suspended?
A. The licensee cannot practice until the suspension is lifted
B. The licensee can continue working
C. The licence is permanently revoked
D. The licensee can work for another brokerage
Correct Answer: A
Rationale: A suspended licence prohibits the licensee from practicing real estate during the
suspension period. [100% CORRECT]
Q15: Revocation
The student is reviewing discipline. What happens if a licence is revoked?
A. The licensee is permanently prohibited from practising
B. The licensee can reapply immediately
C. The licensee can continue working
D. The licensee can work as a salesperson
Correct Answer: A
Rationale: Revocation permanently cancels the licence, and the licensee may be prohibited from
reapplying for a period. [100% CORRECT]
