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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What is a fundamental precondition for a brokerage to receive remuneration if a buyer representation agreement (BRA) is signed but another unexpired BRA exists?

A buyer must sign multiple BRAs with different brokerages
A purchase must be negotiated by a salesperson employed by the first brokerage
A seller must be unaware of the existing BRA
No remuneration is due to the second brokerage unless the buyer agrees otherwise
Remuneration is automatically split between brokerages
The first brokerage must acknowledge the second BRA

The correct answer is: No remuneration is due to the second brokerage unless the buyer agrees otherwise

A This option is incorrect because having multiple buyer representation agreements with different brokerages does not affect the precondition for receiving remuneration for both brokerages. B: This option is incorrect because although a sale must be negotiated by a salesperson employed by the first brokerage, it is not a fundamental precondition for receiving remuneration. C: This option is incorrect because a seller's awareness of the existing BRA does not affect the fundamental precondition for receiving remuneration. E: This option is incorrect because there is no automatic split of remuneration between brokerages. The first brokerage is only entitled to receive remuneration if the buyer agrees otherwise. F: This option is incorrect because acknowledgement of the second BRA by the first brokerage is not a fundamental precondition for receiving remuneration.