RECA Fundamentals Exam Questions and Answers Already Passed
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Course
RECA
Institution
RECA
RECA Fundamentals Exam Questions and Answers Already Passed 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 th...
Responsibilities of RECA - ANS-- Handling professional conduct review j j j j j j j j
- establishing industry standards of practice
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- issuing authorization to trade in real estate
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Four factors of production - ANS-land, labor, capital, entrepreneurship
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RECA provides the following annual reports - ANS-- financial reports
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- industry statistics
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- reports for the previous year
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The structure of real estate in Alberta includes; - ANS-- local real estate boards
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, - alberta real estate association
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- canadian real estate association
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Referral definition - ANS-The act of recommending or directing a person for service to
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j another person or business j j j
- brokerage is responsible for paying and receiving remuneration in connection to trade
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RECAS professional conduct review Objects - ANS-- gather all relevant information
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- treat parties fairly
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-gather information efficiently
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Amendments to the Act - ANS-- can be made by provincial legislature with recommendations
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j by the Minister of Service Alberta
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Amendments to the rules - ANS-The rules contain the day to day activities
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- council has the authority to create and amend
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Executive Director can suspend license - ANS-- determines the length of suspension
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- serves the decision on the industry professional
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- will consider the evidence when making the decision
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Whats includes in written service agreements? - ANS-- the services to be provided by the
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j brokerage
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