Quebec Real Estate Licensing Exam Practice · Question
Ms. Florence Girard, a potential buyer in Québec City, suffers a financial loss because her real estate broker, Mr. Marc Lévesque, fraudulently misappropriated her down payment. From which source can Ms. Girard seek compensation for her loss?
The Real Estate Indemnity Fund (FICI) indemnifies victims of fraud or fraudulent tactics, or misappropriation of funds, committed by a real estate broker or age
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Question: Ms. Florence Girard, a potential buyer in Québec City, suffers a financial loss because her real estate broker, Mr. Marc Lévesque, fraudulently misappropriated her down payment. From which source can Ms. Girard seek compensation for her loss?
Answer options:
- The OACIQ's general operating fund. ✅ The Real Estate Indemnity Fund.
- Mr. Marc Lévesque's personal liability insurance.
- The Quebec government's consumer protection agency.
Correct answer: The Real Estate Indemnity Fund.
Explanation: The Real Estate Indemnity Fund (FICI) indemnifies victims of fraud or fraudulent tactics, or misappropriation of funds, committed by a real estate broker or agency in the performance of their activities.
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