THE NBREA REAL ESTATE EXAM NEWEST 2025/2026 WITH
COMPLETE QUESTIONS AND SOLUTIONS |ALREADY GRADED
A+||BRAND NEW VERSION!
What are the agents record keeping requirements? - SOLUTION-Keep Records for 5 years
Must be produced within 30 days of Auditor's request
Documents required
Large Cash Transaction Report, IIIR, Receipt of Funds record, Suspicious transaction
Report, Corp/Entity IIR, Self-assesment Risk management Report
Define FINTRAC and it's purpose? - SOLUTION-The indep[endant agency of FInancial
Transactions & Reports Analysis centre of Canada. Their purpose is to Collect, Analyze
and disclose data for the deterance, detection of crime and protection of the general public.
When should a 10K cash deposit be reported to FINTRAC? - SOLUTION-Within 15 days of
Cash being offered.
,Define AMPs? - SOLUTION-Administrative Monetary Penalties. Additional tools & criminal
sanctions with an objective of ensuring compliance. These allow for a proportionate
response to the individual offense.
What are the fines for Very Serious (Individual/Entity), Very Serious(I/E),
Serious(I/E), Minor(I/E)? - SOLUTION-Minor(I/E)-$1-1K
Serious(I/E)-$1-100K
Very Serious(I/E)-$1-100K
Very Serious(I/E)-$1-500K
Total Fines for each offense can exceed these limits
What will FINTRAC publically list? - SOLUTION-1)A serious or very serious violation
2)Total penalty is equal to or greater than 10K
Define the Department of Justice's role in Real Estate? - SOLUTION-
Co-regulates the industry with NBREA
Roles, responsibilities & auhtority from Real Estate Agents Act & An Act to
Incorporate the NB real Estate Association
Criminal record checks, enforce acts, provides licenses, investigates and resolves
complaints
Consumer education & approves licensing courses
REALTOR®'s responsibility to FINTRAC? - SOLUTION-To protect personal data collected
as part of the FINTRAC compliance process against loss, theft, unauthorized access,
disclosure or copying.
Define PIPEDA, R of F & I I I R? - SOLUTION-Personal Information
Protection and Electronic Documents Act
, Receipt of Funds record
Individual Identiication Information Record
What is FCNB & the 3 licenses they provide? - SOLUTION-New Brunswick Financial &
Consumer Service Comissions
1)Agent (RLPA) 2)Manager(Broker)3) Sales Person(REALTOR®)
4 Technology trends affecting Real Estate? - SOLUTION-Wireless devices, Internet
Innovation, Internet Collaboration & The MLS system
Explain legislation application in regards to advertising? - SOLUTIONLegislation equally
applies to the Internet, websites & mail. Forms auto update in webforms.
Who can use WEBFORMS? - SOLUTION-REALTOR Link members only
name the 2 FINTRAC forms? - SOLUTION-1. Individual Identification Information Record
2. receipt of Funds record
What are 5 fiduciary obligations to clients? - SOLUTION-1.Do not misuse confidential
information
2.Do not make secret profit
3.Disclose conflict
4.Maintain utmost loyalty
5.Avoid conflicts of Interest
What are the 3 obligations of Client to Agent? - SOLUTION-1.Idemnify
COMPLETE QUESTIONS AND SOLUTIONS |ALREADY GRADED
A+||BRAND NEW VERSION!
What are the agents record keeping requirements? - SOLUTION-Keep Records for 5 years
Must be produced within 30 days of Auditor's request
Documents required
Large Cash Transaction Report, IIIR, Receipt of Funds record, Suspicious transaction
Report, Corp/Entity IIR, Self-assesment Risk management Report
Define FINTRAC and it's purpose? - SOLUTION-The indep[endant agency of FInancial
Transactions & Reports Analysis centre of Canada. Their purpose is to Collect, Analyze
and disclose data for the deterance, detection of crime and protection of the general public.
When should a 10K cash deposit be reported to FINTRAC? - SOLUTION-Within 15 days of
Cash being offered.
,Define AMPs? - SOLUTION-Administrative Monetary Penalties. Additional tools & criminal
sanctions with an objective of ensuring compliance. These allow for a proportionate
response to the individual offense.
What are the fines for Very Serious (Individual/Entity), Very Serious(I/E),
Serious(I/E), Minor(I/E)? - SOLUTION-Minor(I/E)-$1-1K
Serious(I/E)-$1-100K
Very Serious(I/E)-$1-100K
Very Serious(I/E)-$1-500K
Total Fines for each offense can exceed these limits
What will FINTRAC publically list? - SOLUTION-1)A serious or very serious violation
2)Total penalty is equal to or greater than 10K
Define the Department of Justice's role in Real Estate? - SOLUTION-
Co-regulates the industry with NBREA
Roles, responsibilities & auhtority from Real Estate Agents Act & An Act to
Incorporate the NB real Estate Association
Criminal record checks, enforce acts, provides licenses, investigates and resolves
complaints
Consumer education & approves licensing courses
REALTOR®'s responsibility to FINTRAC? - SOLUTION-To protect personal data collected
as part of the FINTRAC compliance process against loss, theft, unauthorized access,
disclosure or copying.
Define PIPEDA, R of F & I I I R? - SOLUTION-Personal Information
Protection and Electronic Documents Act
, Receipt of Funds record
Individual Identiication Information Record
What is FCNB & the 3 licenses they provide? - SOLUTION-New Brunswick Financial &
Consumer Service Comissions
1)Agent (RLPA) 2)Manager(Broker)3) Sales Person(REALTOR®)
4 Technology trends affecting Real Estate? - SOLUTION-Wireless devices, Internet
Innovation, Internet Collaboration & The MLS system
Explain legislation application in regards to advertising? - SOLUTIONLegislation equally
applies to the Internet, websites & mail. Forms auto update in webforms.
Who can use WEBFORMS? - SOLUTION-REALTOR Link members only
name the 2 FINTRAC forms? - SOLUTION-1. Individual Identification Information Record
2. receipt of Funds record
What are 5 fiduciary obligations to clients? - SOLUTION-1.Do not misuse confidential
information
2.Do not make secret profit
3.Disclose conflict
4.Maintain utmost loyalty
5.Avoid conflicts of Interest
What are the 3 obligations of Client to Agent? - SOLUTION-1.Idemnify
