Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Course 2 Exam with our comprehensive practice tests. Study with flashcards, multiple choice questions, and detailed explanations to ensure you are ready for exam day!

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Which statement aligns with REBBA Code of Ethics regarding a buyer representation agreement?

The agreement duration cannot exceed six months.
The amount payable to co-operating brokerages must be disclosed.
It must be written, signed, and delivered when the offer is made.
Copy of the agreement should be given immediately upon signing.
It should detail all agent responsibilities precisely.
It must include a clause for dispute resolution.

The correct answer is: Copy of the agreement should be given immediately upon signing.

In accordance with the Real Estate and Business Brokers Act (REBBA) Code of Ethics, providing a copy of the buyer representation agreement immediately upon signing is crucial. This practice ensures transparency between the buyer and the real estate agent, giving the buyer a clear understanding of the terms they are agreeing to. By promptly providing the agreement, the buyer has the opportunity to review its contents and ask any necessary questions before proceeding further. This aligns with the principles of honesty, integrity, and professionalism that are integral to the Code of Ethics. Options A, B, C, E, and F do offer valuable insights into buyer representation agreements, but they do not specifically highlight a key requirement that directly corresponds with the ethical standards emphasized by REBBA.