Humber/Ontario Real Estate Course 2 Exam Practice

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What does the REBBA Code of Ethics mandate regarding the use of forms?

  1. Must disclose all material defects only if known

  2. Registrants must use current forms for real estate transactions

  3. Sellers must provide a property information statement

  4. Disclose details of all competing offers to each buyer

  5. Use old forms if current forms are unavailable

  6. Only sellers need to use updated forms

The correct answer is: Registrants must use current forms for real estate transactions

The REBBA Code of Ethics mandates that registrants must use current forms for real estate transactions. This means that they are required to use the most up-to-date versions of forms provided by the Real Estate Council of Ontario. Using old forms or outdated versions may result in legal or ethical issues, as they may not reflect current laws or regulations. Other options are incorrect because option A only applies to material defects, not forms; option C only pertains to sellers, while the REBBA Code of Ethics applies to all registrants, including buyer agents; and option D is referring to information that must be disclosed to clients, not the use of forms. Therefore, the best answer is B, as it properly addresses the requirement for using current forms.

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