Reca terms Study guides, Class notes & Summaries

Reca – Residential Exam Questions and Answers 2024 Self regulation -Answer--General obligation -Care & Skill -Act honestly -Negotiate favorable terms -Maintain confidentiality -Disclose information -Act in person -Obey lawful instructions -Perform mandate Brokerage interests -Answer-Interest of brokerage at odds with brokerage client Fiduciary duties -Answer--Utmost loyalty -Not to make secret profits -Maintain confidentiality -To account -Avoid and disclose conflicts of interes...

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 ther...

Residential Real Estate RECA Terms 100% Correct General Power of Attorney -No limits on powers to make decisions about donors financial and legal affairs -The one exception is decisions about the donors personal affairs such as consenting to health care or deciding where the donor should reside Special Power of Attorney -Has specific of limited powers in regards to the donor -Also referred to as a Limited Power of Attorney Immediate Power of Attorney -Makes financial and lega...

Residential Real Estate RECA Terms (Study For Exam) – Qs And As

Which 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 associ...

Residential Real Estate RECA Terms Correct answers latest 2023General Power of Attorney - correct answer -No limits on powers to make decisions about donors financial and legal affairs -The one exception is decisions about the donors personal affairs such as consenting to health care or deciding where the donor should reside Special Power of Attorney - correct answer -Has specific of limited powers in regards to the donor -Also referred to as a Limited Power of Attorney Immediate Pow...

Residential Real Estate RECA Terms

Psychographic - ANSWER-This market segmenting involves studies of consumers based on their attitudes, lifestyles, and values. Demographic - ANSWER-This market segment refers to statistical data or information concerning a person's age gender income level occupation, etc Behavioral - ANSWER-This type of market segmentation is based on segmenting a market based on segmenting a market based on rate of use, shopping patterns or product benefits Geographic - ANSWER-This market segmentation ...