Humber/Ontario Real Estate Course 1 Exam 2026 – 400 Free Practice Questions to Pass the Exam

Question: 1 / 890

Which of the following is a correct statement regarding a broker of record?

A broker of record can oversee brokerage activities at a distance when required.

A separate broker of record must be designated for each branch office.

A broker of record plays a critical role within a real estate brokerage and is responsible for the overall management and compliance of brokerage activities. The statement that a separate broker of record must be designated for each branch office is correct. This requirement ensures that each branch adheres to the regulations and operates within the legal framework set out for real estate practices. By designating a broker of record for each branch, the real estate authority can effectively ensure proper oversight, accountability, and adherence to industry standards at each location.

In larger brokerages with multiple branches, having a specific broker for each branch minimizes the risk of mismanagement or oversight in compliance with laws and ethics pertinent to real estate transactions. Each broker of record is tasked with ensuring that all agents operating out of their branch are following the legal and ethical guidelines set forth by the regulatory authorities.

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Each branch manager can be designated as a broker of record, if the branch location is 50 km. or more from the main brokerage office.

The maximum number of registrants a broker of record can oversee is 500.

No more than two brokers of record can work at the same time.

Only brokers of record can submit final transactions.

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