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Saskatchewan Real Estate Salesperson Licensing Exam
ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE THIS YEAR
Summarized Exam Coverage – Saskatchewan Real Estate Salesperson Licensing
The Saskatchewan Real Estate Salesperson Licensing Exam is administered by the Saskatchewan Real
Estate Commission (SREC) and delivered by the UBC Sauder School of Business, Real Estate Division .
Key topics covered in the Phase 1 and Phase 2 courses include:
• Phase 1 – Real Estate as a Professional Career: legal framework for real estate services in
Saskatchewan, professional ethics and liability, land ownership and title registration, valuation
and financing, fundamentals of agency and contract law, The Real Estate Act, registration
requirements, and the role of the SREC .
• Phase 2 – Residential Real Estate as a Professional Career: representing sellers and buyers,
construction and measurements, residential contract of purchase and sale, agency relationships,
disclosure requirements, and ethical obligations .
• Exam Format: Phase 2 exams are 2 hours with 60 multiple-choice questions; passing grade
is 70% . Exams are offered at various times throughout the year (e.g., February, March, April,
June, July, September, October, November) at locations including Regina, Saskatoon, and
Melfort .
• Licensing Requirements: Students must be at least 18 years old, a Grade 12 graduate (or
equivalent), and satisfy English language proficiency requirements. Criminal record check and
registration fees apply. Applicants have two years from Phase 1 registration to complete all
courses and exams and become registered with a brokerage .
• Real Estate Act (Saskatchewan): Governs real estate professionals, including licensing, conduct,
trust accounts, and discipline. The SREC is the provincial legislative body that governs and
directs the registration, education, and continuing professional development of registrants .
• Professional Ethics & Standards: Includes honesty, integrity, confidentiality, disclosure of
material defects, proper handling of client funds in trust accounts, and avoidance of misleading
advertising .
• Agency Relationships: Understanding the duties of seller’s agents, buyer’s agents, dual agency,
and transaction brokerage. Disclosure of agency relationships is required.
• Broker and Salesperson Responsibilities: A broker is responsible for supervising salespersons
and may be held responsible for their actions. Brokers must complete approved broker
education and meet experience requirements .
• Trust Accounts: Client funds (deposits, rent) must be held in a trust account, separate from
brokerage operating funds. Commingling is prohibited .
• Contract of Purchase and Sale: Standard clauses, conditions, offer, acceptance, counter-offer,
waivers, and irrevocable dates.
• Continuing Education: Required for license renewal.
1. A salesperson misrepresents a property’s condition to a client. Under The Real Estate Act, the broker
may be:
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A) Fully responsible
B) Partially responsible
C) Not responsible
D) Only responsible if they knew
Answer: A — The broker is responsible for the actions of their salespersons and may be held fully
responsible for misrepresentations made within the scope of employment.
2. Which of the following is required for a person to be licensed as a real estate broker in Saskatchewan?
A) Minimum of 2 years experience as a salesperson
B) Complete an approved broker education course
C) Submit a criminal record check
D) All of the above
Answer: D — To become a licensed broker in Saskatchewan, candidates must meet experience
requirements, complete the approved broker course, and submit a criminal record check .
3. The primary role of a real estate broker is to:
A) Represent clients in negotiations
B) Manage brokerage operations
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C) Supervise salespersons
D) All of the above
Answer: D — Brokers have multiple responsibilities, including client representation, brokerage
management, and supervision of salespersons .
4. A brokerage trust account must be used for:
A) Personal funds of the broker
B) Client funds, such as deposits and rent
C) Office operational expenses
D) Commission payouts
Answer: B — Trust accounts are specifically for handling client funds, ensuring they are separate from
the brokerage’s own money .
5. A salesperson who is unsure about whether particular conduct is permitted should first consult:
A) The client
B) The seller
C) The broker
D) The buyer
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Answer: C — The broker is responsible for supervising salespersons and providing guidance on ethical
and legal conduct.
6. The Saskatchewan Real Estate Commission (SREC) is responsible for:
A) Licensing real estate professionals
B) Enforcing The Real Estate Act
C) Approving education programs
D) All of the above
Answer: D — SREC is the provincial legislative body which governs and directs the registration,
education, and continuing professional development of registrants .
7. A salesperson receives an offer for a property after the irrevocable date has passed. The offer is:
A) Valid if accepted immediately
B) Void and cannot be accepted unless a new offer is written
C) Valid if the seller agrees to extend the date
D) Valid for 24 hours after the irrevocable date
Answer: B — Once the irrevocable date has passed, the offer lapses and cannot be accepted; a new offer
must be presented.
Saskatchewan Real Estate Salesperson Licensing Exam
ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT
ANSWERS LATEST UPDATE THIS YEAR
Summarized Exam Coverage – Saskatchewan Real Estate Salesperson Licensing
The Saskatchewan Real Estate Salesperson Licensing Exam is administered by the Saskatchewan Real
Estate Commission (SREC) and delivered by the UBC Sauder School of Business, Real Estate Division .
Key topics covered in the Phase 1 and Phase 2 courses include:
• Phase 1 – Real Estate as a Professional Career: legal framework for real estate services in
Saskatchewan, professional ethics and liability, land ownership and title registration, valuation
and financing, fundamentals of agency and contract law, The Real Estate Act, registration
requirements, and the role of the SREC .
• Phase 2 – Residential Real Estate as a Professional Career: representing sellers and buyers,
construction and measurements, residential contract of purchase and sale, agency relationships,
disclosure requirements, and ethical obligations .
• Exam Format: Phase 2 exams are 2 hours with 60 multiple-choice questions; passing grade
is 70% . Exams are offered at various times throughout the year (e.g., February, March, April,
June, July, September, October, November) at locations including Regina, Saskatoon, and
Melfort .
• Licensing Requirements: Students must be at least 18 years old, a Grade 12 graduate (or
equivalent), and satisfy English language proficiency requirements. Criminal record check and
registration fees apply. Applicants have two years from Phase 1 registration to complete all
courses and exams and become registered with a brokerage .
• Real Estate Act (Saskatchewan): Governs real estate professionals, including licensing, conduct,
trust accounts, and discipline. The SREC is the provincial legislative body that governs and
directs the registration, education, and continuing professional development of registrants .
• Professional Ethics & Standards: Includes honesty, integrity, confidentiality, disclosure of
material defects, proper handling of client funds in trust accounts, and avoidance of misleading
advertising .
• Agency Relationships: Understanding the duties of seller’s agents, buyer’s agents, dual agency,
and transaction brokerage. Disclosure of agency relationships is required.
• Broker and Salesperson Responsibilities: A broker is responsible for supervising salespersons
and may be held responsible for their actions. Brokers must complete approved broker
education and meet experience requirements .
• Trust Accounts: Client funds (deposits, rent) must be held in a trust account, separate from
brokerage operating funds. Commingling is prohibited .
• Contract of Purchase and Sale: Standard clauses, conditions, offer, acceptance, counter-offer,
waivers, and irrevocable dates.
• Continuing Education: Required for license renewal.
1. A salesperson misrepresents a property’s condition to a client. Under The Real Estate Act, the broker
may be:
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A) Fully responsible
B) Partially responsible
C) Not responsible
D) Only responsible if they knew
Answer: A — The broker is responsible for the actions of their salespersons and may be held fully
responsible for misrepresentations made within the scope of employment.
2. Which of the following is required for a person to be licensed as a real estate broker in Saskatchewan?
A) Minimum of 2 years experience as a salesperson
B) Complete an approved broker education course
C) Submit a criminal record check
D) All of the above
Answer: D — To become a licensed broker in Saskatchewan, candidates must meet experience
requirements, complete the approved broker course, and submit a criminal record check .
3. The primary role of a real estate broker is to:
A) Represent clients in negotiations
B) Manage brokerage operations
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C) Supervise salespersons
D) All of the above
Answer: D — Brokers have multiple responsibilities, including client representation, brokerage
management, and supervision of salespersons .
4. A brokerage trust account must be used for:
A) Personal funds of the broker
B) Client funds, such as deposits and rent
C) Office operational expenses
D) Commission payouts
Answer: B — Trust accounts are specifically for handling client funds, ensuring they are separate from
the brokerage’s own money .
5. A salesperson who is unsure about whether particular conduct is permitted should first consult:
A) The client
B) The seller
C) The broker
D) The buyer
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Answer: C — The broker is responsible for supervising salespersons and providing guidance on ethical
and legal conduct.
6. The Saskatchewan Real Estate Commission (SREC) is responsible for:
A) Licensing real estate professionals
B) Enforcing The Real Estate Act
C) Approving education programs
D) All of the above
Answer: D — SREC is the provincial legislative body which governs and directs the registration,
education, and continuing professional development of registrants .
7. A salesperson receives an offer for a property after the irrevocable date has passed. The offer is:
A) Valid if accepted immediately
B) Void and cannot be accepted unless a new offer is written
C) Valid if the seller agrees to extend the date
D) Valid for 24 hours after the irrevocable date
Answer: B — Once the irrevocable date has passed, the offer lapses and cannot be accepted; a new offer
must be presented.
