Humber/Ontario Real Estate Course 4 Exam Practice

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Which of the following is NOT related to FINTRAC regulations?

Receipt of Funds Record
Large Deposit Record
Terrorist Property Report
Individual Identification Information Record

The correct answer is: Large Deposit Record

The correct answer is B. Large Deposit Record is not related to FINTRAC regulations. FINTRAC, the Financial Transactions and Reports Analysis Centre of Canada, focuses on activities related to anti-money laundering and anti-terrorist financing initiatives. The other options, A, C, and D, are all related to FINTRAC regulations: A. Receipt of Funds Record - This is a key requirement under FINTRAC regulations, where real estate professionals must keep records of the receipt of funds related to real estate transactions. C. Terrorist Property Report - If a real estate professional knows or has reasonable grounds to suspect that property is owned or controlled by or on behalf of a terrorist or a terrorist group, they are required to report this information to FINTRAC. D. Individual Identification Information Record - Real estate professionals are obligated to collect and retain identification information on individuals involved in real estate transactions as part of their compliance with FINTRAC regulations.