Understanding and Complying with Canada's Competition Act.
The Competition Act is Canada's federal law that keeps business competition fair and healthy. It includes rules to prevent companies from using unfair practices that hurt consumers or other businesses, with penalties ranging from fines to more serious consequences depending on the severity of the violation. Gain an understanding of competition law as it pertains to the REALTOR® community.
Are you following the Competition Act? Take our 4-question quiz to find out!
Who does the Competition Act apply to? Check all that apply.
The Act applies to Real Estate Boards and Associations, Firms, Brokers, Agents, Independent Contractors, and Salespeople.
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Misleading Advertising is taken seriously by the Competition Act. What are examples of misleading advertising? Check all that apply.
Some examples are:
If it is blatantly untrue
An impression that is misleading
Failure to disclose essential information
Disclosures not visible or readable
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What constitutes Collusion & Conspiracy? Check all that apply.
Committing Collusion & Conspiracy is split into two categories: Criminal and Civil. Both have serious consequences including hefty fines and jail time.
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What are some ways that I can keep in line with the Act when doing business with Competitors? Check all that apply.
Throughout the Act, you are instructed to work with Professionalism and Integrity.
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You got {number correct}/{number of questions} correct answers!
Oops! Your knowledge of the Competition Act is lacking!
Why not take a minute to review CREA's Competition Law Videos. It's the best way to stay at the top of your game!
Stay tuned for our next quiz!
You got {number correct}/{number of questions} correct answers.
Congratulations! You've aced this quiz!
Why not take a minute to review CREA's Competition Law Videos. It's the best way to stay at the top of your game!
Stay tuned for our next quiz!