Scenario 24: What is the maximum amount that can be paid out of the Real Estate Errors and Omissions Insurance Corporation Indemnity Fund for a single residential transaction claim?

Question: Scenario 24: What is the maximum amount that can be paid out of the Real Estate Errors and Omissions Insurance Corporation Indemnity Fund for a single residential transaction claim?

Answer options:

• $100,000 ✅ $300,000
• $500,000
• The fund has no specified maximum for single claims, only aggregate limits.

Correct answer: $300,000

Explanation: The Real Estate Errors and Omissions Insurance Corporation Indemnity Fund provides coverage for claims arising from errors, omissions, or negligent acts, with a maximum payout of $300,000 per claim. The correct answer is "$300,000". This capacity-fill scenario 24 reinforces the same competency for the bc-real-estate bank and follows the certified explanation standard.