Humber/Ontario Real Estate Course 3 Exam Practice

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What must the listing brokerage provide to the co-operating brokerage upon delivery of the deposit?

Acknowledgment of funds received
Endorsement of cheque
Copy of the offer
Receipt for the deposit
Verification of offer acceptance
Completion certificate

The correct answer is: Receipt for the deposit

The listing brokerage must provide a receipt for the deposit to the co-operating brokerage upon delivery of the deposit. This receipt serves as documentation and acknowledgment of the funds received, ensuring transparency and record-keeping for all parties involved in the real estate transaction. Among the other options: A. Acknowledgment of funds received - This is similar to providing a receipt for the deposit, but the receipt is the more fitting documentation in this situation. B. Endorsement of cheque - This is not typically required upon delivery of the deposit in a real estate transaction. C. Copy of the offer - Providing a copy of the offer may be necessary for the co-operating brokerage at some point, but not specifically upon delivery of the deposit. E. Verification of offer acceptance - While important for the transaction, providing verification of offer acceptance is not the immediate requirement upon delivering the deposit. F. Completion certificate - This is not a standard document required upon delivery of the deposit in a real estate transaction.