Humber/Ontario Real Estate Course 2 Exam Practice

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Who is considered a third party for FINTRAC identification purposes?

  1. An employee acquiring property for an employer corporation

  2. An investment advisor directing a client on property purchases

  3. A mortgage lender contacted for home financing

  4. A lawyer closing the sale for a buyer

  5. A real estate agent representing the seller

  6. A family friend offering loan advice

The correct answer is: An investment advisor directing a client on property purchases

A third party for FINTRAC identification purposes is someone who is not directly involved in the transaction but has some form of influence or control over it. In this case, an investment advisor directing a client on property purchases is considered a third party because they may influence the client's decision on how to invest their money in real estate. The other options involve individuals who are more directly involved in the transaction or provide specific services related to the real estate transaction, but they do not fall under the definition of a third party for FINTRAC identification purposes.

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