Ontario Real Estate Licensing Exam Practice · Question
Regarding multiple representation under TRESA, 2023, which of the following statements is most accurate?
TRESA 2023 permits multiple representation but requires comprehensive disclosure, including the risks and limitations of multiple representation, and informed w
Start free practice for Ontario Real Estate Licensing Exam Practice
363 questions · no signup required · 40 free questions per day
Question: Regarding multiple representation under TRESA, 2023, which of the following statements is most accurate?
Answer options:
- Multiple representation is now entirely prohibited in all circumstances.
- Registrants can only engage in multiple representation if all parties independently agree in writing and receive independent legal advice. ✅ TRESA allows for multiple representation but mandates strict disclosure requirements and specific conditions for informed consent.
- The Act automatically assumes consent for multiple representation if no objection is raised by either party.
Correct answer: TRESA allows for multiple representation but mandates strict disclosure requirements and specific conditions for informed consent.
Explanation: TRESA 2023 permits multiple representation but requires comprehensive disclosure, including the risks and limitations of multiple representation, and informed written consent from all parties involved, ensuring transparency.
Start free practice for Ontario Real Estate Licensing Exam Practice
363 questions · no signup required · 40 free questions per day
More about Ontario Real Estate Licensing Exam Practice
Related Questions
- A buyer is considering a mortgage product that allows them to prepay a portion of their principal at any time
- A commercial property in Toronto is sold for $2,000,000. The vendor is an HST registrant. What is the buyer's
- What is the primary purpose of registering a deed under the Registry Act in Ontario?
- What is the primary role of a 'title search' in a residential real estate transaction in Ontario?
- A seller accepts a conditional offer. Before the conditions are fulfilled, the seller receives a firm, higher
- Which of the following is a common encumbrance that would be registered on title and affect a property owner's
More for Ontario Real Estate Licensing Exam Practice candidates
Study guides
Question explanations
- A buyer is considering a mortgage product that allows them to prepay a portion of their principal at any time
- A commercial property in Toronto is sold for $2,000,000. The vendor is an HST registrant. What is the buyer's
- What is the primary purpose of registering a deed under the Registry Act in Ontario?
- What is the primary role of a 'title search' in a residential real estate transaction in Ontario?
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free Ontario Real Estate Licensing Exam Practice Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.