NSAR SALESPERSON LICENSING
COURSE EXAM QUESTIONS WITH
CORRECT SOLUTIONS||100%
GUARANTEED PASS|| UPDATED
2026/2027 SYLLABUS||ALREADY A+
GRADED||<<RECENT VERSION>>
Facilitation Services - ANSWER ✓ Services that do not require the exercising of
discretion or judgement, giving confidential advice or advocating on behalf of
either the buyer or the seller
Material Latent Defect - ANSWER ✓ A fault in the property that would not be
discovered by a reasonably thorough building inspection that can have a serious
impact on the value of the property or involve health and/or safety issues
The four D's of Agency Disclosure - ANSWER ✓ 1) Decide- Who will you be
representing in the transaction?
2) Disclose- Make the disclosure to the party(ies) as soon as is practically possible.
3) Document- Put the disclosure in writing, e.g. use the Working With The Real
Estate Industry form and get an acknowledgement.
4) Do- Do what you said you were going to do.
Deed Transfer Tax - ANSWER ✓ A transfer tax paid by the buyer of the property
pursuant to the Municipal Government Act. A municipality may charge up to 1.5%
of the value of the property being transferred. The only exception is a transfer for
no consideration (i.e. a gift).
Matrimonial home - ANSWER ✓ A home designated as the family residence
pursuant to the Matrimonial Property Act.
Spousal Consent - ANSWER ✓ The Matrimonial Property Act requires the
consent of the non-owning spouse regarding the transfer and/or mortgaging of a
matrimonial home.
, Agency Relationship - ANSWER ✓ A relationship in which one party (the agent)
accepts responsibility for representing another (the principal) in dealing with third
parties.
Agent - ANSWER ✓ An individual (or legal entity) authorized by a principal to
represent that principal in business transactions with another party.
Client - ANSWER ✓ A person (or entity) having an agency relationship with a
real estate brokerage under common law. The relationship can involve a buyer,
seller, landlord, or tenant.
Concurrent Representation - ANSWER ✓ Occurs when a brokerage under
common law represents the interests of two or more parties to a trade, which are
seen to be in conflict.
Customer - ANSWER ✓ A person (or entity) that does not have an agency
relationship with the brokerage. Duties owed to a customer are more limited than
those owed to a client. In particular, a customer is not owed any fiduciary duties.
Designated Agent - ANSWER ✓ An individual broker or salesperson (or a team
consisting of a group of salespersons or brokers) designated by a brokerage to
represent a buyer or seller client's interests.
Dual Agency - ANSWER ✓ An agency relationship with more than one client
(e.g. a seller client who has listed the property and a buyer client who is acquiring
that listed property). Dual agency is not practised in Nova Scotia.
Duty of Care - ANSWER ✓ Adherence to a reasonable standard of care while
providing services. The extent of this duty varies depending on whether the
brokerage is providing services to a client or a customer.
Express Agreement - ANSWER ✓ A clear (verbal or written) understanding
between the parties. Written is always best.
Fiduciary Obligations - ANSWER ✓ Obligations flowing from a special legal and
ethical trust owed by an agent to a client. Fiduciary obligations under common law
have evolved over time.
, General Obligations - ANSWER ✓ Arise from the law of agency in relation to an
agent acting on behalf of his/her principal. Selected general obligations also apply
to customers.
Imputed Knowledge - ANSWER ✓ Legally, under common law agency, all
salespersons are deemed to know information about all buyer and seller clients of
the brokerage. Consequently, there is an inherent conflict of interest when the
brokerage represents two clients in the same transaction (dual agency) within that
brokerage.
Principal - ANSWER ✓ An individual (or legal entity) commonly referred to as a
client for real estate purposes, who authorizes an agent (e.g. a brokerage) to
represent and act on his/her behalf in an agency relationship.
Remuneration - ANSWER ✓ The principal's obligation to pay an agreed upon
amount for services rendered in relation to an agency relationship.
Representative Capacity - ANSWER ✓ The duties owed to a client or customer
and roles performed in relation to those duties.
Regulatory Obligations - ANSWER ✓ For real estate brokerages, these
obligations centre on requirements under the Real Estate Trading Act and the
NSREC Commission Bylaw
Transaction Brokerage - ANSWER ✓ The provision of facilitation services by
brokerages (both common law agency and designated agency models) when faced
with concurrent representation (dual agency) involving a buyer and seller client
within the brokerage.
6 Essential Elements of Real Estate Contracts - ANSWER ✓ - Capacity of the
parties
- Lawful object
- Offer and acceptance
- Genuine intention
- Consideration
- Definite and clear
, Capacity of the parties - ANSWER ✓ Persons entering into the contract must
have the legal ability (capacity) to do so. Some individuals cannot enter contracts
given limited capacity (e.g. minors and mentally incompetent persons)
Offer and Acceptance - ANSWER ✓ An offer is made by the offeror and is
accepted by the offeree. The offer and acceptance must meet certain legal
requirements to create a valid and binding contract.
Lawful Object - ANSWER ✓ The underlying purpose or intent of the contract is
legal and can be performed within the confines of the law.
Genuine Intention - ANSWER ✓ A sincere, real plan to do something, as
opposed to a false of spurious intention.
Consideration - ANSWER ✓ Something of value given by each of the parties to
the other to create a valid, binding agreement
Definite and Clear - ANSWER ✓ The terms of the contract must be specific,
unambiguous, and not be vague or doubtful in any way.
Void - ANSWER ✓ The contract never came into existence
Voidable - ANSWER ✓ The contract was originally valid, but is capable of being
rejected by the offended party(ies) at a later time.
Unenforceable - ANSWER ✓ The contract has no legal status and would not be
enforceable under the law.
5 ways that a contract may be terminated - ANSWER ✓ - By mutual agreement
- By performance
- By impossibility of performance
- By operation of law
- Breach of contract
By Mutual Agreement (terminating a contract) - ANSWER ✓ The parties jointly
agree to terminate the agreement.
COURSE EXAM QUESTIONS WITH
CORRECT SOLUTIONS||100%
GUARANTEED PASS|| UPDATED
2026/2027 SYLLABUS||ALREADY A+
GRADED||<<RECENT VERSION>>
Facilitation Services - ANSWER ✓ Services that do not require the exercising of
discretion or judgement, giving confidential advice or advocating on behalf of
either the buyer or the seller
Material Latent Defect - ANSWER ✓ A fault in the property that would not be
discovered by a reasonably thorough building inspection that can have a serious
impact on the value of the property or involve health and/or safety issues
The four D's of Agency Disclosure - ANSWER ✓ 1) Decide- Who will you be
representing in the transaction?
2) Disclose- Make the disclosure to the party(ies) as soon as is practically possible.
3) Document- Put the disclosure in writing, e.g. use the Working With The Real
Estate Industry form and get an acknowledgement.
4) Do- Do what you said you were going to do.
Deed Transfer Tax - ANSWER ✓ A transfer tax paid by the buyer of the property
pursuant to the Municipal Government Act. A municipality may charge up to 1.5%
of the value of the property being transferred. The only exception is a transfer for
no consideration (i.e. a gift).
Matrimonial home - ANSWER ✓ A home designated as the family residence
pursuant to the Matrimonial Property Act.
Spousal Consent - ANSWER ✓ The Matrimonial Property Act requires the
consent of the non-owning spouse regarding the transfer and/or mortgaging of a
matrimonial home.
, Agency Relationship - ANSWER ✓ A relationship in which one party (the agent)
accepts responsibility for representing another (the principal) in dealing with third
parties.
Agent - ANSWER ✓ An individual (or legal entity) authorized by a principal to
represent that principal in business transactions with another party.
Client - ANSWER ✓ A person (or entity) having an agency relationship with a
real estate brokerage under common law. The relationship can involve a buyer,
seller, landlord, or tenant.
Concurrent Representation - ANSWER ✓ Occurs when a brokerage under
common law represents the interests of two or more parties to a trade, which are
seen to be in conflict.
Customer - ANSWER ✓ A person (or entity) that does not have an agency
relationship with the brokerage. Duties owed to a customer are more limited than
those owed to a client. In particular, a customer is not owed any fiduciary duties.
Designated Agent - ANSWER ✓ An individual broker or salesperson (or a team
consisting of a group of salespersons or brokers) designated by a brokerage to
represent a buyer or seller client's interests.
Dual Agency - ANSWER ✓ An agency relationship with more than one client
(e.g. a seller client who has listed the property and a buyer client who is acquiring
that listed property). Dual agency is not practised in Nova Scotia.
Duty of Care - ANSWER ✓ Adherence to a reasonable standard of care while
providing services. The extent of this duty varies depending on whether the
brokerage is providing services to a client or a customer.
Express Agreement - ANSWER ✓ A clear (verbal or written) understanding
between the parties. Written is always best.
Fiduciary Obligations - ANSWER ✓ Obligations flowing from a special legal and
ethical trust owed by an agent to a client. Fiduciary obligations under common law
have evolved over time.
, General Obligations - ANSWER ✓ Arise from the law of agency in relation to an
agent acting on behalf of his/her principal. Selected general obligations also apply
to customers.
Imputed Knowledge - ANSWER ✓ Legally, under common law agency, all
salespersons are deemed to know information about all buyer and seller clients of
the brokerage. Consequently, there is an inherent conflict of interest when the
brokerage represents two clients in the same transaction (dual agency) within that
brokerage.
Principal - ANSWER ✓ An individual (or legal entity) commonly referred to as a
client for real estate purposes, who authorizes an agent (e.g. a brokerage) to
represent and act on his/her behalf in an agency relationship.
Remuneration - ANSWER ✓ The principal's obligation to pay an agreed upon
amount for services rendered in relation to an agency relationship.
Representative Capacity - ANSWER ✓ The duties owed to a client or customer
and roles performed in relation to those duties.
Regulatory Obligations - ANSWER ✓ For real estate brokerages, these
obligations centre on requirements under the Real Estate Trading Act and the
NSREC Commission Bylaw
Transaction Brokerage - ANSWER ✓ The provision of facilitation services by
brokerages (both common law agency and designated agency models) when faced
with concurrent representation (dual agency) involving a buyer and seller client
within the brokerage.
6 Essential Elements of Real Estate Contracts - ANSWER ✓ - Capacity of the
parties
- Lawful object
- Offer and acceptance
- Genuine intention
- Consideration
- Definite and clear
, Capacity of the parties - ANSWER ✓ Persons entering into the contract must
have the legal ability (capacity) to do so. Some individuals cannot enter contracts
given limited capacity (e.g. minors and mentally incompetent persons)
Offer and Acceptance - ANSWER ✓ An offer is made by the offeror and is
accepted by the offeree. The offer and acceptance must meet certain legal
requirements to create a valid and binding contract.
Lawful Object - ANSWER ✓ The underlying purpose or intent of the contract is
legal and can be performed within the confines of the law.
Genuine Intention - ANSWER ✓ A sincere, real plan to do something, as
opposed to a false of spurious intention.
Consideration - ANSWER ✓ Something of value given by each of the parties to
the other to create a valid, binding agreement
Definite and Clear - ANSWER ✓ The terms of the contract must be specific,
unambiguous, and not be vague or doubtful in any way.
Void - ANSWER ✓ The contract never came into existence
Voidable - ANSWER ✓ The contract was originally valid, but is capable of being
rejected by the offended party(ies) at a later time.
Unenforceable - ANSWER ✓ The contract has no legal status and would not be
enforceable under the law.
5 ways that a contract may be terminated - ANSWER ✓ - By mutual agreement
- By performance
- By impossibility of performance
- By operation of law
- Breach of contract
By Mutual Agreement (terminating a contract) - ANSWER ✓ The parties jointly
agree to terminate the agreement.
