Humber/Ontario Real Estate Course 1 Exam Practice

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When dealing with a mortgage application, which action aligns with the REBBA Code of Ethics?

  1. Recommending that the seller not disclose a pending easement dispute

  2. Recommending that the buyer include last year's higher income in the application

  3. Recommending that the buyer omit a scheduled layoff from the application

  4. Recommending that the seller obtain an up-to-date survey to present to a buyer

  5. Recommending that all negotiation details be hidden

  6. Recommending that previous mortgage information be altered

The correct answer is: Recommending that the seller obtain an up-to-date survey to present to a buyer

When dealing with a mortgage application, recommending that the seller obtain an up-to-date survey to present to a buyer aligns with the REBBA Code of Ethics. It is essential for the seller to provide accurate and up-to-date information to potential buyers, including details such as property boundaries and any potential easements or encumbrances. By recommending the seller to obtain an up-to-date survey, the real estate professional is ensuring transparency and honesty in the transaction, which is a fundamental aspect of the Code of Ethics. Options A, B, C, E, and F are not aligned with the REBBA Code of Ethics as they involve actions that promote dishonesty, withholding information, or altering important details in the mortgage application process, which goes against the principles of integrity and transparency that the Code of Ethics upholds.

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