Humber/Ontario Real Estate Course 4 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 4 Exam with our comprehensive practice tests. Study with flashcards and multiple-choice questions, complete with hints and detailed explanations. Achieve success on your real estate licensing journey!

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When calculating property selling price, which remuneration rate is used if $5,430 is the payment at 3.75%?

2.50%
3.00%
3.75%
4.00%
4.50%
5.00%

The correct answer is: 3.75%

To determine the remuneration rate when given a payment of $5,430 at a rate of 3.75%, you can use the formula for commission, which is generally expressed as a percentage of the property's selling price. The remuneration rate corresponds to the percentage that the total payment represents relative to the selling price. In this scenario, since the problem states that the payment of $5,430 is calculated at a rate of 3.75%, it indicates that the rate used for this calculation is indeed 3.75%. Since the question specifically asks for the rate utilized in the calculation, it confirms that the answer is the same as the provided rate. Thus, choosing the rate of 3.75% reflects the correct understanding of how to derive the payment from the selling price in real estate transactions. The other options provided do not match the rate that is indicated in the question, making them incorrect in the context of the calculation required.