Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

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A US citizen buyer wishes to purchase property in Ontario but cannot meet face-to-face. How can they comply with FINTRAC identification requirements?

  1. The buyer must return to Canada for identity verification.

  2. The buyer must send copies of birth certificate and driver's license.

  3. US citizens are exempt from Canadian identity verification regulations.

  4. An agent can be contracted to meet the buyer for identity verification.

  5. The buyer needs a power of attorney from a third-party Canadian resident.

  6. FINTRAC requirements are waived for international transactions.

The correct answer is: An agent can be contracted to meet the buyer for identity verification.

An agent can be contracted to meet the buyer for identity verification. Option A is incorrect because traveling to Canada physically is not necessary for identity verification. Option B is incorrect because copies of birth certificate and driver's license will not suffice as proper identification by FINTRAC. Option C is incorrect as US citizens are not exempt from Canadian identity verification regulations. Option E A power of attorney from a third-party Canadian resident will not fulfill FINTRAC identification requirements. Option D is the most appropriate answer as an agent can meet with the buyer on behalf of FINTRAC to complete the required identification process.

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