Humber/Ontario Real Estate Course 1 Exam Practice

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Which statement is NOT a requirement for a broker of record?

  1. A broker of record must be designated for brokerages with more than 10 salespersons

  2. The broker of record is responsible to ensure compliance with REBBA

  3. The brokerage must inform the Registrar of the broker of record's name

  4. The owner of a sole proprietor brokerage must be the broker of record

  5. The broker of record must hold a valid real estate license

  6. A broker of record must complete additional regulatory training annually

The correct answer is: A broker of record must be designated for brokerages with more than 10 salespersons

The statement that is NOT a requirement for a broker of record is Option A - "A broker of record must be designated for brokerages with more than 10 salespersons." This statement is incorrect because a broker of record must be designated for ALL brokerages, regardless of the number of salespersons. The role of a broker of record is crucial in overseeing the operations and ensuring compliance within the brokerage, regardless of its size. Therefore, it is a universal requirement, not based on the number of salespersons in the brokerage.

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