Which statement about REIA is true?

• A. It is a partnership of several provincial REALTOR associations to facilitate group liability insurance.
• B. It administers MLS listings.
• C. It sets real estate law.
• D. It provides mortgage financing.

Answer: (A)

The important idea here is how REIA functions as a support system for real estate professionals. REIA brings together several provincial REALTOR associations to arrange group liability insurance for members and their brokerages. By pooling the risk across multiple groups, it helps secure coverage at lower costs and with consistent terms, focusing on protecting members from claims related to professional acts or general liability.

MLS listings, on the other hand, are managed by MLS systems and the local boards or associations that host them, not by REIA. Real estate law is established by government bodies and regulators, not by REIA. Mortgage financing is provided by lenders such as banks and credit unions, not by REIA. So the statement about REIA being a partnership to provide group liability insurance is the best fit.