Ontario Real Estate Licensing Exam Practice · Question
Jessica, a salesperson, is about to meet a new client, Omar, who is interested in selling his investment property in Mississauga. Before discussing Omar's property or listing agreement, what is Jessica's mandatory first step according to FINTRAC regulations?
According to FINTRAC regulations (PCMLTFA), real estate registrants must identify and verify the identity of their clients at the earliest opportunity, before c
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Question: Jessica, a salesperson, is about to meet a new client, Omar, who is interested in selling his investment property in Mississauga. Before discussing Omar's property or listing agreement, what is Jessica's mandatory first step according to FINTRAC regulations?
Answer options:
- Completing the listing agreement.
- Providing Omar with a comprehensive market analysis. ✅ Identifying Omar and verifying his identity using acceptable government-issued identification.
- Discussing her commission structure with Omar.
Correct answer: Identifying Omar and verifying his identity using acceptable government-issued identification.
Explanation: According to FINTRAC regulations (PCMLTFA), real estate registrants must identify and verify the identity of their clients at the earliest opportunity, before conducting any transaction or establishing a business relationship.
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