reca fundamentals exam 2024 realand accurate quest
Written for
RECA FUNDAMENTALS
All documents for this subject (116)
1
review
By: DrReiss • 5 months ago
EXCELLENT MATERIAL. VALUE FOR MONEY INDEED
Seller
Follow
erickarimi
Reviews received
Content preview
RECA FUNDAMENTALS EXAM 2024 REALAND
ACCURATE QUESTIONS WITH VERIFIED ANSWERS
GRADED A+
Which privacy legislation affects how Alberta real estate professionals handle client
information?
Privacy Information Act
Right to Personal Privacy Act
Personal Information Protection Act
Personal Information Protection and Electronic Documents Act
A) Statements I and II
B) Statements I and IV
C) Statements II and III
D) Statements III and IV
D
When the licence of a real estate brokerage is suspended, what actions must real estate
professionals who are registered with the brokerage take?
A) They must cease to trade in real estate
B) They must cancel their authorization with RECA
C) They must apply for withdrawal from the profession
D) They must become registered with another brokerage
A
Which of the following Professional Conduct Review outcomes is issued as a practice guideline
for a technical breach of the legislation?
A) Advisory Note
B) Production Order
C) Letter of Reprimand
D) Administrative Penalty
A
Mary, a real estate professional registered with ABC Real Estate Brokerage, has agreed to
purchase her neighbour's ranch. The seller of the property is not represented by a real estate
professional. What level of disclosure does Mary need to provide?
A) Disclosure level 1
,B) Disclosure level 2
C) Disclosure level 3
D) No disclosure level
B
Pursuant to the Rules, which of the following is a result of an industry professional's failure to
immediately notify the Executive Director of changes to information provided in support of a
licence application?
A) Executive Director may refer the matter for a Professional Conduct Review
B) Executive Director may suspend the industry professional's licence
C) Executive Director may cancel the industry professional's licence
D) All the statements are correct
D
Stan, a real estate professional registered with McAgent Real Estate Brokerage has just listed his
commercial property for lease with his brokerage. Jim, another real estate professional registered
with the same brokerage tells Stan that he has a client interested in leasing the property. What
level of disclosure is required in this situation?
A) Disclosure level 1
B) Disclosure level 2
C) Disclosure level 3
D) No disclosure level
C
With respect to brokerage record keeping, which of the following statements is correct?
Brokerage records must be kept in Alberta
Brokerage records may be maintained in electronic form
Brokerage records must be kept by the brokerage for 3 years
Brokerage records must be accessible to RECA for inspection
A) Statements I, II, and III
B) Statements I, II, and IV
C) Statements I, III, and IV
D) All the statements are correct
D
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 application to withdraw from the profession?
A) If the application is approved, RECA issues a news release
B) If the application is approved, all disciplinary proceedings are terminated
C) If the application is approved, it is a lifetime ban from all industry professions governed by
RECA
D) All the statements are correct
D
According to the Rules, which of the following statements is correct regarding written service
agreements?
A) Written service agreements must clearly indicate the names of all parties to the agreement
B) All industry professionals are required to have written service agreements in place with all
clients
C) If a client refuses to sign a written service agreement, the industry professional must refuse
services to that client
D) All the statements are correct
A
A real estate professional's authorization to trade in real estate expired on September 30.
However, the real estate professional continued to show properties on behalf of a property
management company for which she received compensation. Given her actions breached a
section of the Rules and were deemed to be potentially serious, which of the following
disciplinary outcomes would the real estate professional receive?
A) Consent Agreement
B) Letter of Reprimand
C) Temporary Suspension
D) Administrative Penalty
D
Which of the following is NOT a purpose of RECA?
A) To set and enforce standards of conduct for the industry
B) To administer the Act as provided in the Act
C) To amend the Act as determined by Council
D) To protect against and suppress mortgage fraud
C
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller erickarimi. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $19.99. You're not tied to anything after your purchase.
