RECA Fundamentals Exam

Which of the following is NOT a RECA educational resource for industry professionals? - Answer-Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - Answer-Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time - Answer-Consumer Price Index (CPI) Which of the following will occur to the supply of a good when there is a change in quantity supplied due to a price increase? - Answer-an increase in quantity supplied Microeconics - Answer-studies the basic theories of supply and demand as it relates to individuals, households and firms Resource Markets - Answer-facilitate the exchange of factors of production What causes the quantity demanded to shift? - Answer-change in tastes, expectations, and number of consumers benefits of economic growth - Answer-depletion of natural resources Real Property Report - Answer-document produced by Alberta Land Surveyor Which of the following is not a non-price determinant of demand - Answer-cost of production What type of economy does Canada have? - Answer-mixed economy Benefits of RECAS trust assurance and practice review program - Answer-- effective record keeping and administrative procedures - education and advice in relation to brokerage trust accounting - identifies and resolves potential problems regarding brokerage trust accounting requirements