OACIQ Exam Newest 2025/2026 Complete
Questions And Correct Answers (Verified
Answers)|Brand New Version!
Q1. Which of the following best describes the broker's duty under the OACIQ
Code of Ethics when presenting a property to a client?
A. Emphasize only the positive features to close the sale
B. Provide objective, complete information about material facts
C. Offer personal opinions about market trends without data
D. Disclose only information that the client specifically asks for
Correct Answer: B
Explanation: The Code of Ethics requires brokers to give clients full, objective
information about material facts, ensuring informed decisions. This is part of
the duty to inform .
Q2. In Québec, which document must a broker retain for at least ten years to
comply with OACIQ record-keeping standards?
A. Personal email correspondence with clients
B. All signed brokerage contracts and related annexes
C. Advertising flyers printed for a single listing
D. Internal meeting minutes of the brokerage firm
Correct Answer: B
Explanation: The OACIQ mandates that all contractual documents related to
brokerage activities be kept for a minimum of ten years for audit purposes .
, Q3. Which of the following is a primary purpose of a statutory trust account in
real estate transactions?
A. To generate investment income for the brokerage
B. To hold client deposits separate from the broker's own funds
C. To simplify the broker's personal bookkeeping
D. To fund the broker's marketing campaigns
Correct Answer: B
Explanation: A statutory trust account is required to keep client funds (deposits,
rent, etc.) segregated from the broker's operating accounts, protecting client
assets .
Q4. Under the Civil Code of Québec, a "servitude" is best defined as:
A. A temporary lease of a property for six months
B. A right granted to a person to use another's land for a specific purpose
C. A mortgage lien placed on a property by a bank
D. A zoning restriction imposed by municipal authorities
Correct Answer: B
Explanation: A servitude (easement) gives a person a legal right to use another's
property, such as a right of way, without ownership .
Types include view servitudes, right-of-way, non-construction, tolerance of
encroachment, and public utility servitudes .
Q5. Which of the following family-law situations requires the spouse's written
consent before a property can be sold in Québec?
A. The property is the sole residence of the spouse who is not a co-owner
B. The property is jointly owned by the spouses as a family residence
C. The property is an investment rental owned by one spouse only
D. The property is located outside Québec
Questions And Correct Answers (Verified
Answers)|Brand New Version!
Q1. Which of the following best describes the broker's duty under the OACIQ
Code of Ethics when presenting a property to a client?
A. Emphasize only the positive features to close the sale
B. Provide objective, complete information about material facts
C. Offer personal opinions about market trends without data
D. Disclose only information that the client specifically asks for
Correct Answer: B
Explanation: The Code of Ethics requires brokers to give clients full, objective
information about material facts, ensuring informed decisions. This is part of
the duty to inform .
Q2. In Québec, which document must a broker retain for at least ten years to
comply with OACIQ record-keeping standards?
A. Personal email correspondence with clients
B. All signed brokerage contracts and related annexes
C. Advertising flyers printed for a single listing
D. Internal meeting minutes of the brokerage firm
Correct Answer: B
Explanation: The OACIQ mandates that all contractual documents related to
brokerage activities be kept for a minimum of ten years for audit purposes .
, Q3. Which of the following is a primary purpose of a statutory trust account in
real estate transactions?
A. To generate investment income for the brokerage
B. To hold client deposits separate from the broker's own funds
C. To simplify the broker's personal bookkeeping
D. To fund the broker's marketing campaigns
Correct Answer: B
Explanation: A statutory trust account is required to keep client funds (deposits,
rent, etc.) segregated from the broker's operating accounts, protecting client
assets .
Q4. Under the Civil Code of Québec, a "servitude" is best defined as:
A. A temporary lease of a property for six months
B. A right granted to a person to use another's land for a specific purpose
C. A mortgage lien placed on a property by a bank
D. A zoning restriction imposed by municipal authorities
Correct Answer: B
Explanation: A servitude (easement) gives a person a legal right to use another's
property, such as a right of way, without ownership .
Types include view servitudes, right-of-way, non-construction, tolerance of
encroachment, and public utility servitudes .
Q5. Which of the following family-law situations requires the spouse's written
consent before a property can be sold in Québec?
A. The property is the sole residence of the spouse who is not a co-owner
B. The property is jointly owned by the spouses as a family residence
C. The property is an investment rental owned by one spouse only
D. The property is located outside Québec
