Tentamen (uitwerkingen)
RECA Fundamentals Exam Questions and Answers (100% Pass)
- Vak
- Instelling
RECA Fundamentals Exam Questions and Answers (100% Pass)
[Meer zien]Voorbeeld 3 van de 16 pagina's
Voorbeeld 3 van de 16 pagina's
In winkelwagen
Voorbeeld van de inhoud
©PREP4EXAMS@2024 [REAL EXAM DUMPS] Monday, July 22, 2024 1:06 PMRECA Fundamentals Exam Questions and
Answers (100% Pass)
Which of the following is NOT a RECA educational resource for industry professionals? -
✔️✔️Spatial Information System (Spin 2)
Which entity has the authority to amend the Real Estate Act - ✔️✔️Provincial Legislature
Which of the following measures the change in a cost of a fixed basket of goods and services
purchased by families over a period of time - ✔️✔️Consumer Price Index (CPI)
Which of the following will occur to the supply of a good when there is a change in quantity
supplied due to a price increase? - ✔️✔️an increase in quantity supplied
Microeconics - ✔️✔️studies the basic theories of supply and demand as it relates to individuals,
households and firms
Resource Markets - ✔️✔️facilitate the exchange of factors of production
What causes the quantity demanded to shift? - ✔️✔️change in tastes, expectations, and number of
consumers
benefits of economic growth - ✔️✔️depletion of natural resources
Real Property Report - ✔️✔️document produced by Alberta Land Surveyor
Which of the following is not a non-price determinant of demand - ✔️✔️cost of production
What type of economy does Canada have? - ✔️✔️mixed economy
Benefits of RECAS trust assurance and practice review program - ✔️✔️- effective record keeping
and administrative procedures
- education and advice in relation to brokerage trust accounting
- identifies and resolves potential problems regarding brokerage trust accounting requirements
Responsibilities of RECA - ✔️✔️- Handling professional conduct review
- establishing industry standards of practice
- issuing authorization to trade in real estate
1
,©PREP4EXAMS@2024 [REAL EXAM DUMPS] Monday, July 22, 2024 1:06 PM
Four factors of production - ✔️✔️land, labor, capital, entrepreneurship
RECA provides the following annual reports - ✔️✔️- financial reports
- industry statistics
- reports for the previous year
The structure of real estate in Alberta includes; - ✔️✔️- local real estate boards
- alberta real estate association
- canadian real estate association
Referral definition - ✔️✔️The act of recommending or directing a person for service to another
person or business
- brokerage is responsible for paying and receiving remuneration in connection to trade
RECAS professional conduct review Objects - ✔️✔️- gather all relevant information
- treat parties fairly
-gather information efficiently
Amendments to the Act - ✔️✔️- can be made by provincial legislature with recommendations by
the Minister of Service Alberta
Amendments to the rules - ✔️✔️The rules contain the day to day activities
- council has the authority to create and amend
Executive Director can suspend license - ✔️✔️- determines the length of suspension
- serves the decision on the industry professional
- will consider the evidence when making the decision
Whats includes in written service agreements? - ✔️✔️- the services to be provided by the
brokerage
- the responsibilities of each party to the agreement
- the names of the parties to the agreement
failure to immediately notify Executive Director of changes to information provided in support
of license results in: - ✔️✔️- Exec. Director may refer the matter for a professional conduct review
- Exec. Director may suspend industry professionals license
- Exec. director may cancel the industry professionals license
How long is license valid if not registered with brokerage? - ✔️✔️36 months
2
, ©PREP4EXAMS@2024 [REAL EXAM DUMPS] Monday, July 22, 2024 1:06 PM
Levels of Disclosure - ✔️✔️1. other party represented by another brokerage
2. other party not represented
3. other party represented by same brokerage
Designated Agency vs Common law - ✔️✔️Designated Agency
- relationship with individual instead of brokerage
- conflict of interest only if agent has an interest in property
Common Law
- agency relationship exists
- conflict of interest extends to whole brokerage
- must be disclosed
Inducement vs incentives - ✔️✔️- Inducement is client specific
- incentives must be offered by brokerage to everyone
If industry professional withdraws from profession during disciplinary proceedings - ✔️✔️- RECA
issues a news release
- all disciplinary proceedings terminated
- lifetime ban from all industry professions governed by RECA
Advisory Notes - ✔️✔️Technical breach of legislation
- ex. forgetting brokerage name on marketing
Letters of Reprimand - ✔️✔️- where cases of conduct deserving sanction is less serious
- agent has also received an advisory note
Administrative penalties - ✔️✔️- actions breached a section of rules and deemed potentially
serious
Approaches to complaints agent agent - ✔️✔️- Advisory notes
- technical breach
- letter of reprimand
- less serious, already received advisory note
- Administrative penalty
- potentially serious
- hearings
3
Dit zijn jouw voordelen als je samenvattingen koopt bij Stuvia:
Bewezen kwaliteit door reviews
Studenten hebben al meer dan 850.000 samenvattingen beoordeeld. Zo weet jij zeker dat je de beste keuze maakt!
In een paar klikken geregeld
Geen gedoe — betaal gewoon eenmalig met iDeal, Bancontact of creditcard en je bent klaar. Geen abonnement nodig.
Focus op de essentie
Studenten maken samenvattingen voor studenten. Dat betekent: actuele inhoud waar jij écht wat aan hebt. Geen overbodige details!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper OliviaWest. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor $12.49. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 64670 samenvattingen verkocht
Opgericht in 2010, al 15 jaar dé plek om samenvattingen te kopen
Laatst bekeken door jou
Tentamen (uitwerkingen) ·
MPOETC ACT 120 CERTIFICATION EXAM REVIEW 2024/25
Tentamen (uitwerkingen) ·
Science Policy Exam Questions with Complete Solutions
Tentamen (uitwerkingen) ·
4130 final| 73 QUESTIONS| WITH COMPLETE SOLUTIONS
Tentamen (uitwerkingen) ·
ITPM Exam 1 Review Questions with 100% Correct Answers
Tentamen (uitwerkingen) ·
CISI Regulations questions with correct answers
Voordeelbundel ·
Mark Klimek Yellow Book Blue Book Exam Bundle
Tentamen (uitwerkingen) ·
ATI PN FUNDAMENTAL PROCTORED 2024 EXAM GURANTEED PASS
Overig ·
SED2601 assignment 3 due July 2023 (100%guarantee)
