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.

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!

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Considering the details provided in Salesperson Firanz's offer for Buyer Lee, which statement is accurate?

The agreement date and Buyer Lee’s signature date are inconsistent and need correction.
The irrevocable timeframe should be within standard business hours.
Buyer Lee's deposit should be dated no earlier than the irrevocable date.
The deposit must be dated the same day Buyer Lee signs the document.
The deposit can be post-dated to match the agreement date.
Buyer Lee can provide a deposit at any point before the irrevocable date.

The correct answer is: The deposit must be dated the same day Buyer Lee signs the document.

The correct answer is D because the deposit must be dated the same day Buyer Lee signs the document to ensure that it aligns with the agreement and is considered valid. This practice helps prevent any confusion or discrepancies regarding the timing and validity of the deposit in relation to the agreement. It is a standard procedure in real estate transactions to date the deposit the same day the document is signed to maintain clarity and accuracy in the transaction process. Options A, B, C, E, and F are incorrect because they do not accurately reflect the standard practice and procedures related to dating deposits in real estate transactions.