NBREA Real Estate Exam with correct answers 100% 2026

NBREA Real Estate Exam with correct answers 100% 2026 What are the agents record keeping requirements? - Correct Answer Keep Records for 5 years Must be produced within 30 days of Auditor's request Documents required Large Cash Transaction Report, IIIR, Receipt of Funds record, Suspicious transaction Report, Corp/Entity IIR, Self-assesment Risk management Report Define FINTRAC and it's purpose? - Correct Answer The indep[endant agency of FInancial Transactions & Reports Analysis centre of Canada. Their purpose is to Collect, Analyze and disclose data for the deterance, detection of crime and protection of the general public. When should a 10K cash deposit be reported to FINTRAC? - Correct Answer Within 15 days of Cash being offered. Define AMPs? - Correct Answer Administrative Monetary Penalties. Additional tools & criminal sanctions with an objective of ensuring compliance. These allow for a proportionate response to the individual offense. What are the fines for Very Serious (Individual/Entity), Very Serious(I/E), Serious(I/E), Minor(I/E)? - Correct Answer Minor(I/E)-$1-1K Serious(I/E)-$1-100K Very Serious(I/E)-$1-100K Very Serious(I/E)-$1-500K Total Fines for each offense can exceed these limits What will FINTRAC publically list? - Correct Answer 1)A serious or very serious violation 2)Total penalty is equal to or greater than 10K Define the Department of Justice's role in Real Estate? - Correct Answer Co-regulates the industry with NBREA Roles, responsibilities & auhtority from Real Estate Agents Act & An Act to Incorporate th