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RECA Exam Study Questions and Answers (Latest Update 2024) 72 Questions
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RECA Exam Study Questions and Answers (Latest Update 2024) 72 Questions
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RECA Exam Study Questions andAnswers (Latest Update 2024) 72
Questions
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 must Carl
provide? - Correct Answer ✅ Disclosure level 1
When evaluating an ethical dilemma, the first step is
awareness. An individual may become aware of an ethical
dilemma through a variety of ways. Which one of the
following is typically NOT one of the ways? - Correct Answer
✅ Others tell you that you have an ethical dilemma
Which of the following statements is correct regarding the
length of time that real estate professionals are obligated to
keep client information confidential? - Correct Answer ✅ It
continues without a time limit after real estate services are
no longer provided
,RECA Exam Study Questions and
Answers (Latest Update 2024) 72
Questions
Which of the following describes what is meant by a lawful
instruction? - Correct Answer ✅ Any instruction that is
reasonable and ordinary under the circumstances
Which of the following types of authority involve describing
(orally or in writing) the actions that may be taken by an
agent on behalf of a principal? - Correct Answer ✅ Express
Authority
Which of the following describes the party that exists outside
of a representation relationship? - Correct Answer ✅ Third
Party
Which of the following is NOT a type of authority an agent
may hold? - Correct Answer ✅ Functional Authority
Which of the following are the only entities authorized to
trade in real estate? - Correct Answer ✅ Real Estate
Brokerages
, RECA Exam Study Questions and
Answers (Latest Update 2024) 72
Questions
Which of the following categories of brokerage services
involves numerous services that require the greatest level of
discretion or judgement? - Correct Answer ✅ Property
Management Services
Which of the following does NOT apply to consideration? -
Correct Answer ✅ Consideration always involves money
What is the difference between a condition and a term in a
contract? - Correct Answer ✅ Conditions must be waived
for the contract to proceed, while a contract can still proceed
with unmet terms
Which of the following is NOT an essential element of a
contract? - Correct Answer ✅ The contract must be in
written form to be enforceable
The Ogami's have just completed their first English language
course. They want to start a family business and take out a
mortgage on their small townhouse to get funds for the
business. However the business fails and they must repay the
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