HUMBER REAL ESTATE LATEST 2026 EXAM TEST
QUESTIONS AND ANSWERS SURE A+
✔✔chattels - ✔✔the moveable possessions; by default they're excluded from purchase;
any chattel to remain should be identified in agreement of purchase & sale
✔✔title - ✔✔legal ownership of land - and with that ownership- legal rights; person who
has title is the legal owner & has the authority to sell
✔✔chain of title - ✔✔The series of deeds by which title to a piece of property was
transferred
from one owner to the next, over the course of the property's history.
✔✔title search - ✔✔The examination of public records relating to real estate to
determine the current state of the ownership.
✔✔marketable title - ✔✔Good or clear title, reasonably free from the risk of litigation
over possible defects. The transfer of title can occur without any encumbrances
affecting the buyer (e.g., mortgage registered on title).
✔✔transfer/deed of land - ✔✔In a Land Registry Office, the document used to transfer
title (transfer when title is registered under Land Titles Act; deed under the Registry Act)
✔✔mortgage - ✔✔claim or encumbrance upon a property given by the owner of the
property to the lender as security for money borrowed (mortgage under the Registry
Act; charge under the Land Titles Act)
✔✔Charge/Mortgage of Land - ✔✔document used to register the mortgage against a
property
✔✔Discharge of Charge/Mortgage - ✔✔document used to remove the mortgage
, ✔✔Lender - ✔✔referred to as mortgagee under Registry Act; chargee under Land Titles
Act
✔✔Borrower - ✔✔mortgagor under Registry Act; chargor under Land Titles Act
✔✔activities that support RECO's mandate of protecting public interest - ✔✔- enforcing
standards required to obtain & maintain registration as a brokerage, broker, or
salesperson
- establishing education standards for registration, post-registration, & continuing
education
- conducting insepctions of brokerages to ensure compliance with REBBA & to educate
brokers of record
- addressing inquiries, concerns, complaints & taking appropriate action
- establishing & administering insurance requirements
- being source of consumer protection education & information for sellers & buyers
✔✔role of the broker of record - ✔✔- actively participate in management of the
brokerage
- supervision of registrants & non-registrants
- ensure compliance with REBBA
- review & approval of trade-related documents
- sign any brokerage financial statements
Note: branch with one broker or salesperson only needs the supervision of the broker of
record at the head office
✔✔role of the branch manager - ✔✔- provide adequate supervision for employees
- take steps to deal with failure to comply with the Act or Regulations
- manage all records related to the branch
✔✔estate - ✔✔an interest in land that contains various rights associated with ownership
or tenancy
✔✔fee simple estate - ✔✔Absolute ownership with all the rights associated with
ownership of real property. They can use, sell, lease, enter, give away properties. This
bundle of rights is ownership. Ownership is for an indeterminate period of time
✔✔leasehold estate - ✔✔An estate that gives the holder (Tenant) a temporary right to
possession, without title.
✔✔air rights - ✔✔The rights to use the air above the land.
✔✔surface rights - ✔✔the rights to use the surface of the earth; any right of land that
isn't mining rights
QUESTIONS AND ANSWERS SURE A+
✔✔chattels - ✔✔the moveable possessions; by default they're excluded from purchase;
any chattel to remain should be identified in agreement of purchase & sale
✔✔title - ✔✔legal ownership of land - and with that ownership- legal rights; person who
has title is the legal owner & has the authority to sell
✔✔chain of title - ✔✔The series of deeds by which title to a piece of property was
transferred
from one owner to the next, over the course of the property's history.
✔✔title search - ✔✔The examination of public records relating to real estate to
determine the current state of the ownership.
✔✔marketable title - ✔✔Good or clear title, reasonably free from the risk of litigation
over possible defects. The transfer of title can occur without any encumbrances
affecting the buyer (e.g., mortgage registered on title).
✔✔transfer/deed of land - ✔✔In a Land Registry Office, the document used to transfer
title (transfer when title is registered under Land Titles Act; deed under the Registry Act)
✔✔mortgage - ✔✔claim or encumbrance upon a property given by the owner of the
property to the lender as security for money borrowed (mortgage under the Registry
Act; charge under the Land Titles Act)
✔✔Charge/Mortgage of Land - ✔✔document used to register the mortgage against a
property
✔✔Discharge of Charge/Mortgage - ✔✔document used to remove the mortgage
, ✔✔Lender - ✔✔referred to as mortgagee under Registry Act; chargee under Land Titles
Act
✔✔Borrower - ✔✔mortgagor under Registry Act; chargor under Land Titles Act
✔✔activities that support RECO's mandate of protecting public interest - ✔✔- enforcing
standards required to obtain & maintain registration as a brokerage, broker, or
salesperson
- establishing education standards for registration, post-registration, & continuing
education
- conducting insepctions of brokerages to ensure compliance with REBBA & to educate
brokers of record
- addressing inquiries, concerns, complaints & taking appropriate action
- establishing & administering insurance requirements
- being source of consumer protection education & information for sellers & buyers
✔✔role of the broker of record - ✔✔- actively participate in management of the
brokerage
- supervision of registrants & non-registrants
- ensure compliance with REBBA
- review & approval of trade-related documents
- sign any brokerage financial statements
Note: branch with one broker or salesperson only needs the supervision of the broker of
record at the head office
✔✔role of the branch manager - ✔✔- provide adequate supervision for employees
- take steps to deal with failure to comply with the Act or Regulations
- manage all records related to the branch
✔✔estate - ✔✔an interest in land that contains various rights associated with ownership
or tenancy
✔✔fee simple estate - ✔✔Absolute ownership with all the rights associated with
ownership of real property. They can use, sell, lease, enter, give away properties. This
bundle of rights is ownership. Ownership is for an indeterminate period of time
✔✔leasehold estate - ✔✔An estate that gives the holder (Tenant) a temporary right to
possession, without title.
✔✔air rights - ✔✔The rights to use the air above the land.
✔✔surface rights - ✔✔the rights to use the surface of the earth; any right of land that
isn't mining rights
