Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 2 Exam with comprehensive quizzes that include flashcards and multiple-choice questions. Enhance your knowledge and confidence in real estate concepts to excel in the examination!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

What must a buyer who is a U.S. citizen purchasing property in Canada do to comply with FINTRAC?

Return to Canada for verification.
Provide a video verification.
Have an agent meet face-to-face.
Submit notarized documents by mail.
Use a virtual verification system.
Have an identity verification waiver.

The correct answer is: Have an agent meet face-to-face.

A buyer who is a U.S. citizen purchasing property in Canada must have an agent meet them face-to-face to comply with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) regulations. This face-to-face meeting is necessary to verify the identity of the buyer in accordance with anti-money laundering and anti-terrorist financing regulations. The other options provided do not meet the requirement for a physical identity verification which is a crucial aspect of complying with FINTRAC regulations.