Humber/Ontario Real Estate Course 2 Exam Practice

Brokers ensure proper management of trust transactions according to regulations by keeping a detailed trust ledger accurately. A trust ledger is a crucial document that records all trust transactions, including deposits, withdrawals, and any interest accrued. It helps maintain transparency, accountability, and accuracy in handling clients' funds. Conducting reconciliation each month, as stated in option A, is a necessary practice to ensure the trust account's accuracy but is not the primary method for proper management of trust transactions. The disbursement being allowed by an accountant (option C) is not directly related to trust account management, and interest payments going directly to the brokerage (option D) are not best practice and should go to the client. Option E stating that only brokers handle trust accounts is inaccurate, as trust accounts may involve multiple individuals within the brokerage. Finally, option F mentioning an annual review by financial auditors may be beneficial but does not address the day-to-day management of trust transactions effectively, making option B the most appropriate choice for ensuring compliance with regulations.