Exam (elaborations)
RECA PRACTICE EXAM QUESTIONS AND ANSWERS
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RECA PRACTICE EXAM QUESTIONS AND ANSWERS
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RECA PRACTICE EXAM QUESTIONS ANDANSWERS
Carl, a real estate professional, is registered with Prime Plus Real Estate Ltd. He has listed his
brother's house for sale with the brokerage. A real estate professional with another brokerage
contacts Carl and asks to preview the property as she has a potential buyer. What level of
disclosure must Carl provide? - ANS Disclosure level 1
When evaluating an ethical dilemma, the first step is awareness. An individual may become
aware of an ethical dilemma through a variety of ways. Which one of the following is typically
NOT one of the ways? - ANS Others tell you that you have an ethical dilemma
Which of the following statements is correct regarding the length of time that real estate
professionals are obligated to keep client information confidential? - ANS It continues
without a time limit after real estate services are no longer provided
Which of the following describes what is meant by a lawful instruction? - ANS Any
instruction that is reasonable and ordinary under the circumstances
Which of the following types of authority involve describing (orally or in writing) the actions that
may be taken by an agent on behalf of a principal? - ANS Express Authority
Which of the following describes the party that exists outside of a representation relationship? -
ANS Third Party
Which of the following is NOT a type of authority an agent may hold? - ANS Functional
Authority
Which of the following are the only entities authorized to trade in real estate? - ANS Real
Estate Brokerages
Which of the following categories of brokerage services involves numerous services that require
the greatest level of discretion or judgement? - ANS Property Management Services
Which of the following does NOT apply to consideration? - ANS Consideration always
involves money
What is the difference between a condition and a term in a contract? - ANS Conditions must
be waived for the contract to proceed, while a contract can still proceed with unmet terms
, Which of the following is NOT an essential element of a contract? - ANS The contract must
be in written form to be enforceable
The Ogami's have just completed their first English language course. They want to start a family
business and take out a mortgage on their small townhouse to get funds for the business.
However the business fails and they must repay the mortgage. Since the Ogami's struggle with
English, they did not understand the mortgage contract. If they challenge the contract, what
term describes the possible result? - ANS The contract may be voidable
Which of the following is NOT characteristic of value in relation to a commodity? - ANS
Pricing
Advisory Note - ANS Which of the following Professional Conduct Review outcomes is
issued as a practice guideline for a technical breach of the legislation?
B) Statements II, III and IV - ANS Which of the following statements is correct regarding the
Real Estate Act Rules?
The Rules may only be amended by the provincial legislature
RECA posts the most current version of the Rules on its website
The Rules refer to the standards of practice for industry professionals
When contemplating amendments to the Rules, RECA consults with industry professionals and
stakeholders
Social Reaction - ANS Which of the following is NOT a type of reaction associated with
conflicts or disputes?
Personal Information Protection Act - ANS Which of the following is the provincial privacy
legislation in Alberta?
Authority, responsibility and accountability - ANS In terms of the brokerage, what are the 3
components of leadership that relate to the broker?
It should state that the consumer received and understands the written disclosure made by a
real estate professional - ANS Which of the following best describes a written
acknowledgement?
Customary authority - ANS Which of the following types of authority allow an agent to act
according to the usual ways of performing an action as established by the profession?
Only some general obligations - ANS Which of the following responsibilities do real estate
professionals owe customers?
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