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NSAR SALESPERSON LICENSING ACTUAL
EXAM – NOVA SCOTIA ASSOCIATION OF
REALTORS® (NSAR) Newest Exam Preparation
With Complete Questions And Correct Answers With
Rationales Already Graded A+Brand New Version!!
Question 1
Which piece of legislation specifically governs real estate trading
activities in Nova Scotia?
A) Real Estate Brokers Act
B) Real Estate Trading Act
C) Property Management Act
D) Nova Scotia Housing Act
Answer: B
Explanation: The Real Estate Trading Act is the primary statute that
regulates all real estate trading activities in Nova Scotia. It establishes
the legal framework within which all licensees must operate and defines
the scope of trading activities that require licensure.
Question 2
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Under the Nova Scotia Real Estate Trading Act, which of the following
activities constitutes "trading" in real estate and requires a valid
salesperson license?
A) A homeowner placing a "For Sale By Owner" sign on their front lawn
B) A property manager collecting rent from tenants on behalf of a single
landlord
C) An individual who, for compensation, negotiates the sale of a
residential property on behalf of the seller
D) A lawyer preparing a deed of transfer for a real estate transaction
Answer: C
Explanation: "Trading" is defined as the activity of buying, selling,
leasing, or otherwise dealing in real estate on behalf of another person
for compensation or with the expectation of compensation. Only the
negotiator acting for the seller in exchange for compensation falls
within this definition. Homeowners acting for themselves, property
managers performing routine rent collection, and lawyers providing
legal services are expressly exempted from the licensing requirement.
Question 3
The Real Estate Trading Act in Nova Scotia requires that all salespersons
hold which of the following to legally trade in real estate?
A) A valid driver's license
B) A certificate of registration with the Nova Scotia Real Estate
Commission
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C) A valid salesperson license issued under the Act
D) A membership in the Canadian Real Estate Association
Answer: C
Explanation: The Act explicitly mandates that no person shall engage in
trading in real estate unless they are the holder of a valid license issued
under the Act. While registration with the Commission and CREA
membership may be incidental to practice, they are not the statutory
prerequisite for legal trading authority.
Question 4
Which entity is responsible for the administration and enforcement of
the Real Estate Trading Act in Nova Scotia?
A) The Nova Scotia Association of REALTORS
B) The Nova Scotia Real Estate Commission
C) The Ministry of Municipal Affairs and Housing
D) The Canadian Real Estate Association
Answer: B
Explanation: The Nova Scotia Real Estate Commission is the statutory
regulatory body charged with administering the Real Estate Trading
Act. Its functions include licensing, investigations, discipline, and
consumer protection, distinct from the advocacy and professional
development roles of NSAR or CREA.
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Question 5
A salesperson who fails to renew their license before the expiry date
and continues to trade is subject to which penalty under the Real Estate
Trading Act?
A) A warning letter from the Commission
B) A fine not exceeding $25,000 and possible criminal prosecution
C) Automatic suspension of any pending transactions
D) Loss of REALTOR membership only
Answer: B
Explanation: Section 39 of the Real Estate Trading Act provides that any
person who trades without a valid license is guilty of an offence and
liable on summary conviction to a fine of not more than $25,000. This is
a serious regulatory offence, not merely an administrative warning, and
can result in prosecution.
Question 6
Under the regulations of the Real Estate Trading Act, which of the
following is a mandatory continuing education requirement for
salespersons?
A) Completion of 12 credit hours per year
B) Completion of the NSAR Ethics Update Course annually
C) Completion of the mandatory continuing education program
approved by the Commission
D) Passing a refresher examination every three years
NSAR SALESPERSON LICENSING ACTUAL
EXAM – NOVA SCOTIA ASSOCIATION OF
REALTORS® (NSAR) Newest Exam Preparation
With Complete Questions And Correct Answers With
Rationales Already Graded A+Brand New Version!!
Question 1
Which piece of legislation specifically governs real estate trading
activities in Nova Scotia?
A) Real Estate Brokers Act
B) Real Estate Trading Act
C) Property Management Act
D) Nova Scotia Housing Act
Answer: B
Explanation: The Real Estate Trading Act is the primary statute that
regulates all real estate trading activities in Nova Scotia. It establishes
the legal framework within which all licensees must operate and defines
the scope of trading activities that require licensure.
Question 2
,2|Page
Under the Nova Scotia Real Estate Trading Act, which of the following
activities constitutes "trading" in real estate and requires a valid
salesperson license?
A) A homeowner placing a "For Sale By Owner" sign on their front lawn
B) A property manager collecting rent from tenants on behalf of a single
landlord
C) An individual who, for compensation, negotiates the sale of a
residential property on behalf of the seller
D) A lawyer preparing a deed of transfer for a real estate transaction
Answer: C
Explanation: "Trading" is defined as the activity of buying, selling,
leasing, or otherwise dealing in real estate on behalf of another person
for compensation or with the expectation of compensation. Only the
negotiator acting for the seller in exchange for compensation falls
within this definition. Homeowners acting for themselves, property
managers performing routine rent collection, and lawyers providing
legal services are expressly exempted from the licensing requirement.
Question 3
The Real Estate Trading Act in Nova Scotia requires that all salespersons
hold which of the following to legally trade in real estate?
A) A valid driver's license
B) A certificate of registration with the Nova Scotia Real Estate
Commission
,3|Page
C) A valid salesperson license issued under the Act
D) A membership in the Canadian Real Estate Association
Answer: C
Explanation: The Act explicitly mandates that no person shall engage in
trading in real estate unless they are the holder of a valid license issued
under the Act. While registration with the Commission and CREA
membership may be incidental to practice, they are not the statutory
prerequisite for legal trading authority.
Question 4
Which entity is responsible for the administration and enforcement of
the Real Estate Trading Act in Nova Scotia?
A) The Nova Scotia Association of REALTORS
B) The Nova Scotia Real Estate Commission
C) The Ministry of Municipal Affairs and Housing
D) The Canadian Real Estate Association
Answer: B
Explanation: The Nova Scotia Real Estate Commission is the statutory
regulatory body charged with administering the Real Estate Trading
Act. Its functions include licensing, investigations, discipline, and
consumer protection, distinct from the advocacy and professional
development roles of NSAR or CREA.
, 4|Page
Question 5
A salesperson who fails to renew their license before the expiry date
and continues to trade is subject to which penalty under the Real Estate
Trading Act?
A) A warning letter from the Commission
B) A fine not exceeding $25,000 and possible criminal prosecution
C) Automatic suspension of any pending transactions
D) Loss of REALTOR membership only
Answer: B
Explanation: Section 39 of the Real Estate Trading Act provides that any
person who trades without a valid license is guilty of an offence and
liable on summary conviction to a fine of not more than $25,000. This is
a serious regulatory offence, not merely an administrative warning, and
can result in prosecution.
Question 6
Under the regulations of the Real Estate Trading Act, which of the
following is a mandatory continuing education requirement for
salespersons?
A) Completion of 12 credit hours per year
B) Completion of the NSAR Ethics Update Course annually
C) Completion of the mandatory continuing education program
approved by the Commission
D) Passing a refresher examination every three years
