Under TRESA in Ontario, what is the minimum insurance coverage requirement for real estate brokerages?
Correct Answer
B) $1,000,000 per claim
TRESA requires Ontario real estate brokerages to maintain professional liability insurance of at least $1,000,000 per claim. This insurance requirement protects consumers by ensuring brokerages can cover potential damages arising from professional errors or omissions in their real estate services.
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Under TRESA in Ontario, what is the maximum period a real estate brokerage can hold client funds in their trust account before depositing them?
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