Humber Real Estate Course 1 Module 2 Exam Questions and Answers 2026 (69 Questions) | REBBA, Representation Agreements, Property Ownership, MLS & RECO

This comprehensive revision guide contains 69 expertly compiled exam questions and answers covering the essential concepts taught in Module 2 of the Humber Real Estate Salesperson Program. Developed to support active recall, strengthen conceptual understanding, and improve examination performance, this resource provides a structured review of Ontario real estate principles frequently assessed in Humber licensing examinations. The material begins by examining brokerage structure and operational responsibilities under Ontario real estate legislation. Students will gain a detailed understanding of the distinctions between main brokerage offices and branch offices, the roles of brokers of record and branch managers, and the functions of listing brokerages, co-operating brokerages, and buyer's brokerages during residential transactions. The guide also clarifies the terminology commonly encountered in practice, including vendor, purchaser, lessor, lessee, acquisition, and divestiture. A significant portion of the review focuses on client representation and consumer relationships. Learners will explore the fiduciary obligations owed to clients, including loyalty, confidentiality, and the duty to promote and protect clients' best interests. The differences between client relationships and customer relationships are thoroughly explained, along with the use of representation agreements, customer service agreements, and agreements of purchase and sale. The material also reviews commission structures and the various methods through which remuneration can be negotiated in Ontario real estate transactions. The property ownership component introduces key legal concepts relating to real property and land registration systems. Students will review the distinctions between real estate, real property, personal property, fixtures, and chattels, while developing a clear understanding of title ownership, the bundle of rights, encumbrances, deeds, transfers, mortgages, charges, mortgagors, mortgagees, chargors, and chargees. The guide further explores the Registry Act and the Land Titles Act, both of which play a critical role in the transfer and registration of ownership interests in Ontario. Residential and commercial property classifications are examined in depth to support practical application and exam readiness. Topics include ranch-style bungalows, split-entry homes, one-and-one-half storey dwellings, two-storey homes, split-level residences, townhouses, linked dwellings, semi-detached properties, and multi-unit residential buildings. Students will also review the primary categories of commercial real estate, including office, retail, mixed-use, industrial, agricultural, and multi-unit properties. The final sections provide an overview of organized real estate in Canada and the institutions that support the profession. Students will become familiar with RECO governance, the Registrar's responsibilities, CREA, OREA, local real estate boards, MLS® administration, and professional organizations such as REIC, CCIM, and SIOR. Understanding these organizations is essential for both examination success and future professional practice. This study guide is ideal for examination preparation, self-testing, and reinforcing lecture material throughout Humber's Real Estate Salesperson Program. Its concise question-and-answer format enables students to efficiently review high-yield concepts and identify areas requiring additional study before licensing examinations. The content aligns with recognized Ontario real estate education standards and authoritative industry resources, including: • Humber College Institute of Technology & Advanced Learning. Real Estate Salesperson Program curriculum. • Real Estate Council of Ontario (RECO). Registration and consumer protection resources. • Real Estate and Business Brokers Act, 2002 (REBBA), Government of Ontario. • Trust in Real Estate Services Act, 2002 (TRESA), Government of Ontario. • Canadian Real Estate Association (CREA). REALTOR® and MLS® standards. • Ontario Real Estate Association (OREA). Professional practice resources. Relevant Students: Humber Real Estate Salesperson Program students Course 1 Module 2 students Ontario real estate licensing candidates Pre-registration real estate students Future real estate salespersons Real estate broker candidates Students preparing for Humber real estate examinations Candidates seeking RECO registration Individuals transitioning into Ontario real estate careers Students studying real estate law and property ownership concepts Real estate professionals seeking refresher materials Keywords: Humber Real Estate Course 1 Module 2, Humber Real Estate Exam Questions, Humber Real Estate Answers, Humber Real Estate 2026, Ontario Real Estate Exam, REBBA, TRESA, RECO, RECO Registration, Representation Agreements, Customer Service Agreements, Agreement of Purchase and Sale, Client Relationships, Customer Relationships, Fiduciary Duties, Listing Brokerage, Co-operating Brokerage, Buyer's Brokerage, Vendor, Purchaser, Acquisition, Divestiture, Lessor, Lessee, Commission Negotiation, Real Estate Commission, Real Property, Real Estate, Personal Property, Fixtures, Chattels, Bundle of Rights, Title Ownership, Encumbrances, Registry Act, Land Titles Act, Deed, Transfer, Mortgage, Charge, Mortgagor, Mortgagee, Chargor, Chargee, Residential Property Types, Bungalow, Split-Level Home, Townhouse, Linked Dwelling, Multi-Unit Property, Commercial Real Estate, RECO Board of Directors, CREA, OREA, MLS, Local Real Estate Boards, REIC, CCIM, SIOR, Ontario Real Estate Licensing, Humber Real Estate Notes, Real Estate Revision Guide