RECA EXAM STUDY | QUESTIONS AND ANSWERS 100% ACCURATE PASS.
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Course
RECA
Institution
RECA
RECA EXAM STUDY | QUESTIONS AND ANSWERS 100% ACCURATE PASS.
Disclosure level 1 - 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 an...
RECA EXAM STUDY | QUESTIONS AND
ANSWERS 100% ACCURATE PASS.
Disclosure level 1 - 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?
Others tell you that you have an ethical dilemma - 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?
It continues without a time limit after real estate services are no longer provided -
Which of the following statements is correct regarding the length of time that real estate
professionals are obligated to keep client information confidential?
Any instruction that is reasonable and ordinary under the circumstances - Which of the
following describes what is meant by a lawful instruction?
Express Authority - 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?
Third Party - Which of the following describes the party that exists outside of a
representation relationship?
Functional Authority - Which of the following is NOT a type of authority an agent may
hold?
Real Estate Brokerages - Which of the following are the only entities authorized to
trade in real estate?
Property Management Services - Which of the following categories of brokerage
services involves numerous services that require the greatest level of discretion or
judgement?
Consideration always involves money - Which of the following does NOT apply to
consideration?
Conditions must be waived for the contract to proceed, while a contract can still proceed
with unmet terms - What is the difference between a condition and a term in a contract?
, The contract must be in written form to be enforceable - Which of the following is NOT
an essential element of a contract?
The contract may be voidable - 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?
Pricing - Which of the following is NOT characteristic of value in relation to a
commodity?
Which of the following Professional Conduct Review outcomes is issued as a practice
guideline for a technical breach of the legislation? - Advisory Note
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 - B) Statements II, III and IV
Which of the following is NOT a type of reaction associated with conflicts or disputes? -
Social Reaction
Which of the following is the provincial privacy legislation in Alberta? - Personal
Information Protection Act
In terms of the brokerage, what are the 3 components of leadership that relate to the
broker? - Authority, responsibility and accountability
Which of the following best describes a written acknowledgement? - It should state that
the consumer received and understands the written disclosure made by a real estate
professional
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? - Customary authority
Which of the following responsibilities do real estate professionals owe customers? -
Only some general obligations
If a real estate professional cannot provide competent service to a client, which of the
following statements describe actions that the real estate professional should take?
The real estate professional may refer the client to another real estate professional who
specializes in that area of practice or geographic region
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