Exam (elaborations)
Alberta Real Estate Fundamentals Questions and Answers 2024
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Alberta Real Estate Fundamentals
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Alberta Real Estate FundamentalsReal Estate - answer The land and fixed improvements to the land
Classes of License - answer1. Associate
2. Associate Broker
3. Broker
4 Areas of Practice - answer1. Residential
2. Commercial
3. Rural
4. Property Management
Mobile homes fall under the same category as recreational properties - answer False
Industrial Properties - answer Include warehouses and custom-built manufacturing
plants
Residential Income property - answerInclude low-rise and high-rise apartments,
duplexes, fourplexes, and townhouses
Characteristic: Scarce - answerIdentifies real estate as a limited resource
Characteristic: Durable - answerIdentifies real estate as indestructible
Characteristic: Fixed - answerIdentifies real estate as immobile
Characteristic: Unique - answerIdentifies parcels of land as being different from one
another
Characteristic: Private - answerIdentifies how real estate transactions are conducted
between a buyer and seller
Characteristic: Supply/Demand - answerIdentifies the slow response of these 2 market
forces affecting real estate
Characteristic: Standardized - answerIdentifies the inability to marker properties for all
areas of real estate in a universal approach
Characteristic: Local - answerIdentifies real estate transactions as occurring in a defined
area
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