RECO Registration Requirements Practice Questions

Question 1 of 5

A broker from Manitoba is transferring to Ontario. In Manitoba, the real estate regulator is the Manitoba Securities Commission (Real Estate Division). A key procedural difference the broker will encounter is:

• AOntario and Manitoba have identical registration processes, in accordance with the brokerage's compensation policies and the terms negotiated between the parties in the relevant service agreement
• BOntario automatically recognizes all out-of-province licences without any additional requirements, under the remuneration provisions established in the listing or buyer representation agreement governing this particular transaction
• COntario requires completion of specific bridging education requirements and successful completion of the registration examination before the interprovincial candidate can trade in Ontario, even if they hold a valid licence in another province
• DManitoba brokers are exempt from all Ontario requirements, under the remuneration provisions established in the listing or buyer representation agreement governing this particular transaction

Question 2 of 5

In Alberta, real estate is regulated under the Real Estate Act (REA) by RECA. An Alberta-licensed agent moving to Ontario should know that Ontario's regulatory body is:

• ARECA (Real Estate Council of Alberta), since reca is the alberta regulator
• BThe Ontario Ministry of Housing, as the applicable regulatory framework and industry practices establish the standards and procedures that govern how this type of matter is addressed in Ontario real estate
• CCREA (Canadian Real Estate Association)
• DRECO (Real Estate Council of Ontario) — the administrative authority responsible for administering TRESA, including registration, education, complaints, and discipline

Question 3 of 5

After completing bridging education, the interprovincial candidate must:

• ABegin trading immediately without any examination
• BPass the applicable Ontario registration examination before being registered and authorized to trade in real estate in Ontario
• CSubmit a portfolio of their transactions from their home province
• DComplete a one-year apprenticeship under an Ontario broker

Question 4 of 5

Upon registering in Ontario, the interprovincial candidate must participate in:

• ARECO's mandatory errors and omissions insurance program — all Ontario registrants must be covered, and the candidate must enroll in the program as part of their registration
• BOnly the brokerage's internal training program, as the applicable regulatory framework and industry practices establish the standards and procedures that govern how this type of matter is addressed in Ontario real estate
• CA voluntary insurance program that they may opt out of, as the applicable regulatory framework and industry practices establish the standards and procedures that govern how this type of matter is addressed in Ontario real estate
• DTheir home province's insurance program, which covers Ontario transactions

Question 5 of 5

Once registered in Ontario, the interprovincial candidate must comply with Ontario's continuing education requirements. These requirements:

• AAre the same as every other province, considering that continuing education requirements vary by province
• BAre satisfied by the bridging education, with no further requirements
• CDo not exist for interprovincial candidates — they are exempt, as the applicable regulatory framework and industry practices establish the standards and procedures that govern how this type of matter is addressed in Ontario real estate
• DAre set by RECO and are specific to Ontario — the candidate must complete the required education within the prescribed cycle, regardless of any continuing education completed in their home province