Alberta real estate law - Study guides, Class notes & Summaries

According to the Dower Act, what is NOT one of the criteria used to determine if Dower applies? - Answer-The property is mortgaged in the name of one party According to the Dower Act, which of the following would be considered disposition of the property?I. Selling the propertyII. Leasing the propertyIII. Placing a mortgage on the propertyIV. Getting a line of credit against the property - Answer-All of the above Explanation Disposition of the property includes:Selling the propertyLeasing ...

RECA FUNDAMENTALS OF MORTGAGE BROKERAGE 2023 EXAM WITH QUESTIONS AND CORRECT DETAILED ANSWERS 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 (...

RECA Exam Study Guaranteed Success 2 years Which of the following statements is correct regarding how soon a Reserve Fund Study must be completed for a new condominium? A contract that was valid and has now ended What is meant by a discharged contract? Admissions made by real estate professionals Which of the following is NOT considered a frequent cause of conflicts and disputes? Advisory Note Which of the following Professional Conduct Review outcomes is issued as a practice guide...

Correctly Solved Final Exam Property Management- Real Estate Council of Alberta [100% Correct Answers] The 4 D's of Disclosure are as follows: **Ans** Decide, Disclose, Document, Do. A common limitation on payouts is the co-insurance clause. **Ans** This clause safeguards the insurance company when a property is insured for less than its complete replacement value. If the owner opts for insufficient coverage and later files a claim, they will not receive the total amount o...

alberta real estate law exam

Chapter 03 Extent of Real Estate Interests TRUEFALSE 1. Land ownership includes air rights and subsurface rights. (A) True (B) False Answer : (A) 2. Air rights and subsurface rights cannot be conveyed independently. (A) True (B) False Answer : (B) 3. Because a landowner owns the airspace above the land, air travel through that airspace is prohibited. (A) True (B) False Answer : (B) 4. A column lot is the space between the earth's surface and an imaginary plane 23' above the surface. ...

h of the following is part of RECA's commitment to consumer protection? - AnswerWhat are some benefits that mortgage brokerage trade associations offer their members? - Answer- Licensing Standards for mortgage industry members Which entity has the authority to amend the Act? - Answer- Provincial Legislators Which of the following represents an accountability mechanism that RECA must comply with under the Act? - Answer- Previous Fiscal year In addition to mortgage brokerage trade associatio...

Fundamentals of Mortgage Brokerage 2019 Questions and Answers Which of the following is part of RECA's commitment to consumer protection? ANSWER What are some benefits that mortgage brokerage trade associations offer their members? ANSWER Licensing Standards for mortgage industry members Which entity has the authority to amend the Act? ANSWER Provincial Legislators Which of the following represents an accountability mechanism that RECA must comply with under the Act? ANSWER Previou...

RECA Fundamentals Exam Questions And Solutions Latest Updates 2024/2025 Which of the following is NOT a RECA educational resource for industry professionals? - answers Spatial Information System (Spin 2) Who is responsible for producing the "Real Property Report"? - answers Alberta Land Surveyor Benefits of RECAS trust assurance and practice review program - answers - effective record keeping and administrative procedures - education and advice in relation to brokerage trust accoun...

RECA Fundamentals Verified Q&A Scored 100% Individual is expected to do the right thing cause it's the right thing to do, regardless of outcome *ANS* duty-based ethics Sells the optimal result for the greatest number of people *ANS* utalitarian ethics Punishment for a technical breach *ANS* Advisory note One or two potentially serious infraction would cause this punishment *ANS* Administrative penalty/ fine These two ways of creating a representation relationship should not be do...