100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
RECA Fundamentals Exam Questions and Answers $12.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. RECA Fundamentals
  4.  
  5. RECA Fundamentals

Exam (elaborations)

RECA Fundamentals Exam Questions and Answers

1 review
 11 views  0 purchase
  • Course
  • RECA Fundamentals
  • Institution
  • RECA Fundamentals

RECA Fundamentals Exam Questions and Answers Already Passed

Preview 4 out of 34  pages

Document information

  • July 9, 2024
  • 34
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

Subjects

  • reca fundamentals
  • already passed
  • reca
  • passed
  • exam questions and answers
  • fundamentals exam questions

Written for

  • RECA Fundamentals
All documents for this subject (122)

1  review

review-writer-avatar

By: RegisteredNurse • 3 months ago

Very Informative, detailed and timely, I passed, thank you very much

Seller

avatar-seller
DrBellaPhD

Reviews received

Content preview

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 the change in a cost of a fixed basket of goods and services

purchased by families over a period of time ✔✔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? ✔✔an increase in quantity supplied




Microeconics ✔✔studies the basic theories of supply and demand as it relates to individuals,

households and firms




Resource Markets ✔✔facilitate the exchange of factors of production

,What causes the quantity demanded to shift? ✔✔change in tastes, expectations, and number of

consumers




benefits of economic growth ✔✔depletion of natural resources




Real Property Report ✔✔document produced by Alberta Land Surveyor




Which of the following is not a non-price determinant of demand ✔✔cost of production




What type of economy does Canada have? ✔✔mixed economy




Benefits of RECAS trust assurance and practice review program ✔✔- 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




Responsibilities of RECA ✔✔- Handling professional conduct review


- establishing industry standards of practice

,- issuing authorization to trade in real estate




Four factors of production ✔✔land, labor, capital, entrepreneurship




RECA provides the following annual reports ✔✔- financial reports


- industry statistics

- reports for the previous year




The structure of real estate in Alberta includes; ✔✔- local real estate boards


- alberta real estate association

- canadian real estate association




Referral definition ✔✔The act of recommending or directing a person for service to another

person or business

- brokerage is responsible for paying and receiving remuneration in connection to trade




RECAS professional conduct review Objects ✔✔- gather all relevant information


- treat parties fairly

, -gather information efficiently




Amendments to the Act ✔✔- can be made by provincial legislature with recommendations by

the Minister of Service Alberta




Amendments to the rules ✔✔The rules contain the day to day activities


- council has the authority to create and amend




Executive Director can suspend license ✔✔- determines the length of suspension


- serves the decision on the industry professional

- will consider the evidence when making the decision




Whats includes in written service agreements? ✔✔- the services to be provided by the brokerage


- the responsibilities of each party to the agreement

- the names of the parties to the agreement




failure to immediately notify Executive Director of changes to information provided in support

of license results in: ✔✔- Exec. Director may refer the matter for a professional conduct review

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 DrBellaPhD. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.49
  • (1)
  Add to cart