Alberta Real Estate Fundamentals Correctly Solved Exam [100% Correct Answers]
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Course
RECA
Institution
RECA
Alberta Real Estate Fundamentals
Correctly Solved Exam [100% Correct
Answers]
Real Estate pertains to the land and the permanent improvements made to it.
**Ans** The land and fixed improvements to the land.
Classes of License consist of the following categories:
**Ans** 1. Associate...
Alberta Real Estate Fundamentals
Correctly Solved Exam [100% Correct
Answers]
Real Estate pertains to the land and the permanent improvements made to it.
**Ans** The land and fixed improvements to the land.
Classes of License consist of the following categories:
**Ans** 1. Associate
2. Associate Broker
3. Broker
Areas of Practice include:
**Ans** 1. Residential
2. Commercial
3. Rural
4. Property Management
Mobile homes are categorized similarly to recreational properties.
**Ans** False
Industrial Properties comprise facilities such as warehouses and custom-built manufacturing plants.
**Ans** Include warehouses and custom-built manufacturing plants.
Residential Income property encompasses low-rise and high-rise apartments, duplexes, fourplexes, and
townhouses.
**Ans** Include low-rise and high-rise apartments, duplexes, fourplexes, and townhouses.
1
, The characteristic of being Scarce indicates that real estate is a limited resource.
**Ans** Identifies real estate as a limited resource.
The characteristic of being Durable signifies that real estate is considered indestructible.
**Ans** Identifies real estate as indestructible.
The characteristic of being Fixed means that real estate is immobile.
**Ans** Identifies real estate as immobile.
The characteristic of being Unique highlights that parcels of land differ from each other.
**Ans** Identifies parcels of land as being different from one another.
The characteristic of being Private refers to how real estate transactions occur between buyers and
sellers.
**Ans** Identifies how real estate transactions are conducted between a buyer and seller.
The characteristic of Supply/Demand illustrates the slow reaction of these two market forces influencing
real estate.
**Ans** Identifies the slow response of these 2 market forces affecting real estate.
The characteristic of being Standardized indicates the challenge of marking properties universally across
all areas of real estate.
**Ans** Identifies the inability to market properties for all areas of real estate in a universal approach.
The characteristic of being Local shows that real estate transactions take place within a specific area.
**Ans** Identifies real estate transactions as occurring in a defined area.
High levels of mortgage lending indicate a lack of confidence in the safety and appeal of real estate.
**Ans** False.
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