COMPLETE PACKAGE DEAL FOR RECA PRACTICE EXAM QUESTIONS TOP-RATED 2024

Define Condominium - A form of ownership in which individuals purchase and own a unit of housing in a multi-unit complex. It includes unit ownership and cmoon property ownership What are the two components in a Condominium? - Units are physical spaces within a structure or parcel of land. It usua...

Which of the following statements describe a competent real estate professional? A) A real estate professional who agrees to provide services they are incapable of performing B) A real estate professional who possesses the necessary ability and knowledge to perform services proficiently C) A real...

Which of the following may RECA amend from time to time? A) The Act B) The Rules C) The Regulations D) All the statements are correct B According to the Act, which of the following statements apply if an industry professional whose conduct is subject to disciplinary proceedings make applicatio...

duty-based ethics - Individual is expected to do the right thing cause it's the right thing to do, regardless of outcome utalitarian ethics - Sells the optimal result for the greatest number of people Advisory note - Punishment for a technical breach Administrative penalty/ fine - One or t...

Meridians and ranges are - Longitudal lines condominium (condo) - form of ownership with the owners holding legal title to their own housing unit among many, with common grounds and facilities shared ownership cooperatives (co-ops) - -buildings owned by corporations with the residents as share...

Fiduciary Representation - - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity - 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - - the nature of services provided - whether professional has entered into representation relationship with...

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 mus...