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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Under which circumstance is a property transaction considered suspicious by FINTRAC standards?

Buyer paying over market value for an unseen property purchase.
Seller demanding an asking price significantly above market value without concern for quick sales.
Buyers quickly acquiring multiple rental properties without regard for cost or condition.
Buyer working out a significantly lower price with a large cash payment post-sale.
Seller listing property below market value to ensure a fast transaction.
Buyer using unexplained large cash deposits for property purchases.

The correct answer is: Seller demanding an asking price significantly above market value without concern for quick sales.

A transaction is considered suspicious by FINTRAC standards when a seller is demanding an asking price significantly above market value without concern for quick sales. This could indicate potential money laundering or other illegal activities. The other options do not directly relate to suspicious activities by a seller and may not trigger the same level of scrutiny from FINTRAC.