Reca mortgage broker Study guides, Class notes & Summaries

RECA Mortgage broker Exam Practice Questions and Answers (100% Pass)

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...

How are representation relationships typically established? Estoppel Representation relationships can be established by: agreement, implication, ratification, estoppel, or operation of law What is the highest form of private land ownership in Alberta? Fee simple Fee simple ownership is the highest form of private land ownership as it gives the owner the most ownership rights, and the owner controls the land as long as property taxes and other assessments are paid. Which of the follo...

Fundamentals of Mortgage Brokerage Exam With Complete Solutions AACI - answerAccredited Appraiser Canadian Institute - designation granted by Appraisal Institute of Canada Accelerated Payments - answerpayment options stream whereby the monthly mortgage payment is either split in half or in quarters and is paid every two weeks (bi-weekly) or every week (weekly) Accredited Mortgage Professional - AMP - answernational designation for mortgage professionals in Canada issued by the Canadian A...

RECA Exam| Actual Questions and Verified Answers|100% Correct| 2023/ 2024- Grade A Q: Stan, a real estate professional registered with McAgent Real Estate Bro- kerage 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...

Fundamentals of Mortgage Brokerage Exam With Complete Solutions AACI - answerAccredited Appraiser Canadian Institute - designation granted by Appraisal Institute of Canada Accelerated Payments - answerpayment options stream whereby the monthly mortgage payment is either split in half or in quarters and is paid every two weeks (bi-weekly) or every week (weekly) Accredited Mortgage Professional - AMP - answernational designation for mortgage professionals in Canada issued by the Canadian A...

RECA FUNDAMENTALS EXAM ALBERTA | COMPLETE SOLUTION | 100% ACCURATE PASS. Real Estate - refers to the land and fixed improvements to the land Classes of licence - associate, associate broker, broker and brokerage four areas of practice - residential, commercial, property management and mortgage Industrial property - include warehouses and custom-built manufacturing plants. Residential income property - include low-rise and high-rise apartments, duplexes, fourplexes and tow...

RECA Unit 10 Questions and Answers Rated A+ Lou, a real estate appraiser, is being pressured by a client to overstate the value of a residential property in order for the mortgage financing to be approved. Which type of mortgage fraud scheme does this situation describe? Mortgage assumption If a real estate professional suspects mortgage fraud regarding a transaction, who should they approach first? speak to the broker what is meant by the term strawy buyer anyones who lets their ...

Fundamentals of Mortgage Brokerage Exam With Complete Solutions AACI - answerAccredited Appraiser Canadian Institute - designation granted by Appraisal Institute of Canada Accelerated Payments - answerpayment options stream whereby the monthly mortgage payment is either split in half or in quarters and is paid every two weeks (bi-weekly) or every week (weekly) Accredited Mortgage Professional - AMP - answernational designation for mortgage professionals in Canada issued by the Canadian A...