Ontario Mortgage Agent Practice Exam

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Study for the Ontario Mortgage Agent Exam. Prepare with flashcards and multiple choice questions, each question includes hints and explanations. Get ready for your test!

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 is the responsibility of a principal broker in a brokerage?

Handling property maintenance
Supervising brokers and agents
Enforcing tenant rights
Approving property sales

The correct answer is: Supervising brokers and agents

A principal broker is responsible for overseeing the work of other brokers and agents within a brokerage. This includes supervising their actions, ensuring compliance with laws and regulations, and providing guidance and support. Option A is incorrect because property maintenance is typically handled by property managers, not the principal broker. Option C is incorrect because enforcing tenant rights is the responsibility of a property manager or landlord, not the principal broker. Option D is incorrect because the principal broker's role is not to approve property sales, but rather to oversee and support the brokers and agents who are handling those sales.