Humber/Ontario Real Estate Course 2 Exam Practice

Mandatory disclosures under the REBBA (Real Estate and Business Brokers Act) are necessary to promote transparency and protect consumers. Option A, disclosing the interest rate when trust funds are held in an interest-bearing account, is the correct answer because it provides important information about the handling of funds in the account. Option B is incorrect because the threshold for disclosing trust fund amounts is $5,000, not $10,000. Option C is incorrect because the broker's financial statements are not required to be disclosed under REBBA. Option D is incorrect because disclosing personal information of account recipients is not relevant to trust account regulations. Option E is incorrect because monthly account balances are not required to be shared with sellers, only the interest rate if the funds are held in an interest-bearing account. Option F is incorrect because a three-year forecast of account usage is not a mandatory disclosure under REBBA.