Reca unit 3 1 brokerage - Study guides, Class notes & Summaries

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...

RECA RESIDENTIAL UNIT 1, RECA RESIDENTIAL UNIT 2, RECA RESIDENTIAL UNIT 3, RECA RESIDENTIAL UNIT 4, RECA RESIDENTIAL UNIT 5, RECA RESIDENTIAL UNIT 6, RECA RESIDENTIAL UNIT 7, RECA RESIDENTIAL UNIT 8, RECA RESIDENTIAL UNIT 9 | COMPLETE QUESTIONS AND CORRECT ANSWERS | BRAND NEW| 2024 | 100% PASS TEST BANK. 3 fundamental principles of fiduciary duty. AKA the 3 principles that give rise to fiduciary duties in a representation relationship: - Trust and Confidence, Best Interests, Loyalty ...

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...

UNIT 5: CONSUMER RELATIONSHIPS LATEST UPDATE GRADED A+ Common Law made by the courts. Government + courts = common law. Laws are either passed by either federal or provincial gov's are referred to as statute law. Non-Representation Relationship Involves a REP working with a party to trade in real estate, but is not acting on behalf of that party. This party is referred to as a customer. General obligations are required. Customer an individual or organization who has contacted but n...

RECA Residential Unit 1, 2,3,4,5,6,7,8 &9 Questions and Answers Latest Update Already Passed 3 fundamental principles of fiduciary duty. AKA the 3 principles that give rise to fiduciary duties in a representation relationship: Trust and Confidence, Best Interests, Loyalty 8 General Obligations of REPs Exercise Care and Skill, Act Honestly, Negotiate Favourable terms, Maintain Confidentiality, Disclose Information, Act in Person, Obey Lawful Instructions, Perform Mandate 6 Points ...

RECA Unit 3-1 Brokerage Questions And Answers With Verified Solutions 100% Correct Latest Updated 2024

Unit 5 Of the RECA Fundamentals Exam Review Questions and answers, VERIFIED/ What are the two types of laws? - -Statute law: Federal or Provincial law Common law: Laws based on previous decisions on similar matters When you make an agreement/contract with a client is that agreement with you or the brokerage? - -it is not with you, it is with the brokerage There are representative relationships and non-representative relationship relationships. When does it become a representative rela...

RECA Residential Unit 8: Q&A All Correct 2023 What do REPs have a regulatory obligation to present and discuss with the consumer? - Answer - The Consumer Relationship guide (the Guide) By signing the guide (the consumer relationship guide), is the consumer committed to work with the particular real estate professional/brokerage? - Answer - No 2 types of consumer relationships - Answer - client and customer Difference between Common Law Agency relationship and Designated Agency Relati...

RECA Exam 1 With Correct Solutions Already Passed A+ 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? *ANS* Disclosure level 1 When evaluating an ethical dilemma, the first step is awareness. An individual may become aware of...

Unit 2(RECA)QUESTIONS WITH COMPLETE SOLUTION LATEST 2023The purposes of RECA according to the Act is the following... 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws 1: Rules are a set of instr...