RECA RESEDENTIALS EXAMS QUESTIONS WITH COMPLETE SOLUTIONS

RECA RESEDENTIALS EXAMS QUESTIONS WITH COMPLETE SOLUTIONS Fiduciary Representation - ANSWER- I. Trust and confidence II. Best interests III. Loyalty 5 Ds of Role Clarity - ANSWER- I. Discuss II. Determine III. 3. Document IV. 4. Disclose V. 5. Do Must disclose in writing - ANSWER— I. the nature of services provided II. - whether professional has entered representation relationship with other party III. any conflicts of interest IV. any other facts that may influence consumers decision to proceed with relationship V. made to clarify and provide proof of understanding in event issues or disputes arise Written Service Agreement vs Customer Acknowledgement Forms - ANSWER- I. Written Service Agreement II. when consumer chooses a representation relationship III. becomes a client IV. provide signed copy to brokerage Customer Acknowledge forms-ANSWER- I. non-representation relationship II. becomes a customer III. provide signed copy to brokerage PIPEDA - ANSWER-- Federal legislation PIPA - ANSWER-Alberta's legislation, how private organizations use and disclose personal information. Power of Attorney - ANSWER- I. a legal document authorizing someone to act on your behalf II. must be 18 III. POA must be written, dated and signed by both donor and witness IV. donor must be mentally capable or contract is void V. only effective as long as donor is alive, will takes effect once death Types of POA - ANSWER- A. General POA I. has no limits on powers of the attorney II. can make all decisions regarding financial and legal affairs III. exception where the donor resides and health care