Humber/Ontario Real Estate Course 4 Exam Practice

In the context of the Competition Act, what does it specifically address?

1. Only deceptive practices in digital advertising.

2. Preferential business practices in real estate.

3. Misleading claims in any form of advertising.

4. The role of regulatory bodies in real estate practices.

5. Standards for fair trading in housing markets.

6. False statements in property negotiations.

The correct answer is: Misleading claims in any form of advertising.

The Competition Act is a Canadian law that aims to maintain fair competition in the marketplace for the benefit of consumers. One of the key areas it addresses is misleading claims in any form of advertising. This aspect is crucial because it ensures that businesses must provide truthful information to consumers, thereby fostering a fair and competitive environment. By targeting misleading advertising practices, the Act helps protect consumers from being misled by false or exaggerated claims about products and services. This is vital for consumers who rely on accurate information to make informed choices. The scope of the Act extends beyond just digital advertising, encompassing all forms of advertising, ensuring all businesses are held accountable for the veracity of their promotional material. While other choices mention specific areas like digital advertising or real estate practices, they do not encapsulate the broader implications of the Competition Act as effectively as the focus on misleading claims in any form of advertising, which is central to its purpose of promoting fair competition and protecting consumers.