Humber/Ontario Real Estate Course 1 Exam Practice

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How is a trade defined according to REBBA?

Limited to property sale or exchange
Includes leasing of real estate
Comprises the process and conduct related to trading real estate
Not explicitly defined in REBBA
Limited to selling real estate
Involves property improvements

The correct answer is: Comprises the process and conduct related to trading real estate

According to REBBA, a trade is defined as comprising the process and conduct related to trading real estate. This definition encompasses a broader scope beyond just property sale or exchange and covers activities such as leasing of real estate, which is why options A and E are incorrect. While the term 'trade' is explicitly defined in REBBA, it does not include property improvements, making option F incorrect. The correct definition in option C aligns with the comprehensive understanding of what constitutes a trade under REBBA.