Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with tailored quizzes and study materials. Test your knowledge with multiple-choice questions designed to help you excel in your real estate career. Get ready to pass your exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which statement best describes a real estate board?

It is a profit-driven corporation.
Members must all be RECO registrants.
It receives dues from its members.
It operates and maintains realtor.ca for its area.

The correct answer is: It receives dues from its members.

A real estate board typically receives dues from its members to fund its operations and services, such as networking opportunities and professional development programs for real estate agents. This source of income helps the board fulfill its mandate of supporting and regulating the real estate industry in a specific area. Option A is incorrect because real estate boards are generally not profit-driven corporations but rather non-profit organizations focused on serving their members and the community. Option B is incorrect because not all members of a real estate board necessarily need to be RECO registrants, although many may hold this designation. Option D is incorrect as real estate boards operate their own websites or portals for real estate listings but do not typically run or maintain realtor.ca, which is a national real estate listing platform.