OACIQ EXAM AND PRACTICE EXAM NEWEST 2026
TEST BANK| COMPLETE 300 REAL EXAM QUESTIONS
AND CORRECT VERIFIED ANSWERS/ GRADED A+|
OACIQ FINAL EXAM PREP 2025 (MOST RECENT!!)
1. A seller signs an exclusive brokerage contract with Broker A.
Before the contract ends, the seller finds a buyer on their own. Is
the broker entitled to a commission?
A) Yes, always.
B) No, because the seller found the buyer without the
broker.
C) Yes, unless the contract includes a "seller's reserve"
clause.
D) No, if the buyer is a family member.
Correct Answer: C
Rationale: Under an exclusive contract without a seller’s reserve
1
,clause, the broker is owed commission even if the seller finds the
buyer. A reserve clause excludes specific people.
2. What is the minimum information that must appear on all
brokerage contracts in Quebec?
A) The legal description of the property only.
B) The broker’s license number and the agency’s name.
C) The municipal evaluation and the selling price.
D) The name of the buyer’s notary.
Correct Answer: B
Rationale: Brokerage contracts must identify the broker (license
number) and the agency. Other details vary.
3. A promise to purchase becomes a binding contract when:
A) It is signed by the buyer.
B) It is accepted by the seller without modification.
2
, C) The broker receives the deposit.
D) The inspection is completed.
Correct Answer: B
Rationale: A promise to purchase is an offer. It becomes binding
upon acceptance by the seller (signature).
4. A broker presents an offer below the asking price. The seller
says "I will think about it." The buyer withdraws the offer.
Legally, what happens?
A) The seller can still accept within 72 hours.
B) The offer is dead; revocation is valid before acceptance.
C) The broker must pay the difference in price.
D) The buyer must pay a penalty.
Correct Answer: B
Rationale: An offer can be revoked any time before acceptance.
No contract was formed.
3
, 5. Which clause allows a seller to terminate a brokerage
contract without penalty if they find a buyer themselves?
A) Indemnity clause.
B) Personal usage clause.
C) Seller’s reserve clause.
D) Right of first refusal clause.
Correct Answer: C
Rationale: A seller’s reserve clause lists specific people who can
buy without commission.
6. A brokerage contract must include:
A) The buyer’s financial capacity.
B) The expiry date and renewal terms.
C) The broker’s home address.
D) The notary’s fees.
4
TEST BANK| COMPLETE 300 REAL EXAM QUESTIONS
AND CORRECT VERIFIED ANSWERS/ GRADED A+|
OACIQ FINAL EXAM PREP 2025 (MOST RECENT!!)
1. A seller signs an exclusive brokerage contract with Broker A.
Before the contract ends, the seller finds a buyer on their own. Is
the broker entitled to a commission?
A) Yes, always.
B) No, because the seller found the buyer without the
broker.
C) Yes, unless the contract includes a "seller's reserve"
clause.
D) No, if the buyer is a family member.
Correct Answer: C
Rationale: Under an exclusive contract without a seller’s reserve
1
,clause, the broker is owed commission even if the seller finds the
buyer. A reserve clause excludes specific people.
2. What is the minimum information that must appear on all
brokerage contracts in Quebec?
A) The legal description of the property only.
B) The broker’s license number and the agency’s name.
C) The municipal evaluation and the selling price.
D) The name of the buyer’s notary.
Correct Answer: B
Rationale: Brokerage contracts must identify the broker (license
number) and the agency. Other details vary.
3. A promise to purchase becomes a binding contract when:
A) It is signed by the buyer.
B) It is accepted by the seller without modification.
2
, C) The broker receives the deposit.
D) The inspection is completed.
Correct Answer: B
Rationale: A promise to purchase is an offer. It becomes binding
upon acceptance by the seller (signature).
4. A broker presents an offer below the asking price. The seller
says "I will think about it." The buyer withdraws the offer.
Legally, what happens?
A) The seller can still accept within 72 hours.
B) The offer is dead; revocation is valid before acceptance.
C) The broker must pay the difference in price.
D) The buyer must pay a penalty.
Correct Answer: B
Rationale: An offer can be revoked any time before acceptance.
No contract was formed.
3
, 5. Which clause allows a seller to terminate a brokerage
contract without penalty if they find a buyer themselves?
A) Indemnity clause.
B) Personal usage clause.
C) Seller’s reserve clause.
D) Right of first refusal clause.
Correct Answer: C
Rationale: A seller’s reserve clause lists specific people who can
buy without commission.
6. A brokerage contract must include:
A) The buyer’s financial capacity.
B) The expiry date and renewal terms.
C) The broker’s home address.
D) The notary’s fees.
4
