Humber Real Estate Course 2 Module 1 Exam Questions and Answers 2026 (145 Questions) | Agency, Representation Agreements, Fiduciary Duties, Multiple Representation & REBBA

This comprehensive exam preparation guide contains 145 expertly verified questions and answers covering the essential concepts taught in Module 1 of the Humber Real Estate Salesperson Program Course 2: Explaining Services Available to a Seller or Buyer. Designed to promote active recall, strengthen conceptual understanding, and improve examination performance, this study resource provides an in-depth review of Ontario's agency and representation framework as it applies to real estate trading. The material begins by examining the legal foundations of agency relationships under common law and the Real Estate and Business Brokers Act (REBBA). Students will gain a thorough understanding of the distinctions between principals, agents, clients, customers, and third parties, while exploring how representation relationships are created and managed in Ontario real estate transactions. Core concepts include agency, representation, representation agreements, customer service agreements, agreements of purchase and sale, multiple representation, and the legal relationships that exist between brokerages, salespersons, buyers, and sellers. Extensive coverage is devoted to fiduciary duties and professional obligations owed by brokerages and salespersons. Students will review the responsibilities of loyalty, confidentiality, full disclosure, competence, accounting, obedience to lawful instructions, and the duty to act in the client's best interests. The guide further examines actual authority, implied authority, delegation of duties, limitations on authority, and the legal consequences of acting outside the scope of authority granted by a principal. The resource also explores the formation, operation, and termination of representation relationships. Topics include written, verbal, and implied agreements; ratification; estoppel; operation of law; completion of performance; expiry; revocation; impossibility of performance; illegality; bankruptcy; and continuing fiduciary obligations following termination. Students will strengthen their understanding of effective and expiry dates, continuing confidentiality obligations, and the legal requirements surrounding representation agreements under REBBA. A major focus of this review is the distinction between single representation and multiple representation. Students will examine disclosure obligations, written consent requirements, concurrent representation, confidentiality restrictions, information that cannot be disclosed without written authorization, and the practical implications of representing multiple clients in the same transaction. The guide also reviews customer service arrangements, For Sale By Owner (FSBO) transactions, sub-agency relationships, and the services available to clients versus customers. Additional topics include the duty of care, due diligence requirements, disclosure obligations, trust accounting practices, trust ledgers, negotiation strategies, irrevocable time periods, offer presentations, seller and buyer obligations, prospecting considerations, communication rules established under the Code of Ethics, and prohibited conduct relating to inducement and interference with existing agreements. This study guide is ideal for students preparing for Humber Course 2 examinations, reinforcing lecture material, and developing a practical understanding of the representation responsibilities expected of Ontario real estate professionals. The question-and-answer format allows learners to efficiently identify knowledge gaps and focus revision efforts on high-yield examination topics. 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). Consumer protection, registration, and professional practice resources. • Real Estate and Business Brokers Act, 2002 (REBBA), Government of Ontario. • REBBA Code of Ethics. • Trust in Real Estate Services Act, 2002 (TRESA), Government of Ontario. • RECO Information Guide: Working with a Real Estate Professional. • Ontario Ministry of Public and Business Service Delivery. Regulatory guidance for registrants. Relevant Students: Humber Real Estate Salesperson Program students Course 2 Module 1 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 pursuing RECO registration Students studying agency and representation law Individuals transitioning into Ontario real estate careers Real estate professionals seeking continuing revision resources Keywords: Humber Real Estate Course 2 Module 1, Humber Real Estate Exam Questions, Humber Real Estate Answers, Humber Real Estate 2026, Ontario Real Estate Exam, REBBA, TRESA, RECO, RECO Registration, Agency Law, Representation, Representation Agreement, Customer Service Agreement, Fiduciary Duties, Client, Customer, Principal, Agent, Third Party, Brokerage, Salesperson, Buyer Representation Agreement, Listing Agreement, Agreement of Purchase and Sale, Multiple Representation, Concurrent Representation, Dual Agency, Single Representation, Actual Authority, Implied Authority, Delegation of Duties, Ratification, Estoppel, Operation of Law, Termination of Agency, Revocation, Expiry Date, Duty of Care, Duty of Indemnification, Duty of Remuneration, Confidentiality, Loyalty, Full Disclosure, Competence, Accounting, Obedience, Disclosure Obligations, Trust Ledger, Trust Account, Due Diligence, Material Facts, Offer Presentation, Irrevocable Time Period, Negotiation Strategies, FSBO, For Sale By Owner, Sub-Agency, Communication Rules, Code of Ethics, Conflict of Interest, Client Obligations, Customer Obligations, Ontario Real Estate Licensing, Humber Real Estate Notes, Real Estate Revision Guide