Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 2 Exam with our comprehensive quiz that covers essential concepts and topics. Enhance your understanding with multiple choice questions designed to test your knowledge and boost your confidence before the exam.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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If a brokerage must disclose the number of offers but not the terms, what must it follow according to the Code of Ethics?

Disclose both the number of offers and the terms.
Offer disclosure only about the number of competing offers.
Not disclose any information about the offers.
Disclose terms of the offers, but not the number of offers.

The correct answer is: Offer disclosure only about the number of competing offers.

According to the Code of Ethics, when a brokerage must disclose the number of offers but not the terms, it should only offer disclosure about the number of competing offers. This helps maintain transparency while also respecting the confidentiality of the terms of the offers. Disclosing both the number of offers and the terms (Choice A) would breach confidentiality, not disclosing any information about the offers (Choice C) would not be transparent, and disclosing the terms of the offer but not the number of offers (Choice D) would be incomplete and unfair to potential buyers. Therefore, the correct answer is B.