Humber/Ontario Real Estate Course 2 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Humber/Ontario Real Estate Course 2 Exam. Utilize flashcards and multiple choice questions with hints and explanations. Get exam-ready!

Practice this question and more.

How long does a salesperson have to deliver the deposit to the brokerage's trust account?

Immediately
Within one business day
Within three business days
Within five business days

The correct answer is: Within one business day

A salesperson must deliver the deposit to the brokerage's trust account within one business day. This is to ensure that the deposit is promptly secured in compliance with real estate trust accounting regulations and to protect the funds of the parties involved in the transaction. By requiring the deposit to be delivered within one business day, it helps maintain transparency and accountability in real estate transactions. The other options are not correct because they exceed the time frame allowed for deposit delivery.