Ontario Real Estate Licensing Exam Practice · Question
If RECO determines that a registrant has failed to adequately disclose a material fact to a buyer, what is a potential consequence for the registrant?
Failure to disclose material facts is a serious breach of a registrant's duties under TRESA, 2002, and can lead to significant disciplinary actions by RECO, inc
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Question: If RECO determines that a registrant has failed to adequately disclose a material fact to a buyer, what is a potential consequence for the registrant?
Answer options:
- A recommendation to attend future RECO seminars.
- A requirement to apologize to the buyer. ✅ Fines, suspension, or revocation of registration.
- A formal written complaint filed with their brokerage.
Correct answer: Fines, suspension, or revocation of registration.
Explanation: Failure to disclose material facts is a serious breach of a registrant's duties under TRESA, 2002, and can lead to significant disciplinary actions by RECO, including monetary penalties, suspension, or even revocation of registration.
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