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.

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What is a key requirement in the REBBA Code of Ethics relating to multiple representation?

Informed, verbal consent from all clients involved
Informed, written consent from one of the clients involved
Written consent from both client and customer involved
Informed, written consent from all clients involved

The correct answer is: Informed, written consent from all clients involved

The key requirement in the REBBA Code of Ethics concerning multiple representation is that informed, written consent must be obtained from all clients involved. This requirement ensures that all parties are fully aware of the implications of the situation where a single real estate professional represents multiple clients in the same transaction, which can lead to potential conflicts of interest. Written consent provides a clear record that all clients have acknowledged and accepted the complexities and possible conflicts inherent in the multiple representation scenario. This promotes transparency and trust, both of which are fundamental in real estate transactions. Moreover, by obtaining written consent, a real estate professional demonstrates adherence to ethical standards and legal obligations, helping to protect the interests of all clients involved. Other options do not accurately capture the need for consent from all parties or specify the importance of it being written, which is crucial in establishing a formal understanding between all clients.