Ontario Mortgage Agent Practice Exam 2025 - Free Mortgage Agent Practice Questions and Study Guide

Question: 1 / 400

What is the responsibility of a principal broker in a brokerage?

Handling property maintenance

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.

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Enforcing tenant rights

Approving property sales

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