Reca unit 1 exam - Study guides, Class notes & Summaries
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Unit 1 RECA Exam Questions and Answers (Graded A)
- Exam (elaborations) • 5 pages • 2024
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Unit 1 RECA Exam Questions and Answers (Graded A) 
Define real estate -Answer-refers to land and fixed improvements to land (permanent) 
What are the building classifications -Answer-Residential 
Commercial 
Retail 
Institutional 
Agricultural 
Real Estate Sectors/Property Types -Answer-Residential 
commercial rural 
property management 
characteristics that identifies real estate as limited resource -Answer-scarce 
characteristic that defines real estate as indestructable -Answer-durable 
real ...
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RECA Unit 2 Exam QUESTIONS AND ANSWERS 2023 UPDATE GRADED A+
- Exam (elaborations) • 17 pages • 2023
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RECA Unit 2 Exam QUESTIONS AND ANSWERS 2023 UPDATE 
GRADED A+ 
The purposes of RECA according to the Act is the following... - Answer- 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 - 
Answer- 1: Ru...
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Unit 1 RECA Exam Questions and Answers (Graded A)
- Exam (elaborations) • 5 pages • 2024
- Available in package deal
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Unit 1 RECA Exam Questions and Answers (Graded A) 
Define real estate -Answer-refers to land and fixed improvements to land (permanent) 
What are the building classifications -Answer-Residential 
Commercial 
Retail 
Institutional 
Agricultural 
Real Estate Sectors/Property Types -Answer-Residential 
commercial rural 
property management 
characteristics that identifies real estate as limited resource -Answer-scarce 
characteristic that defines real estate as indestructable -Answer-durable 
real ...
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RECA Residential Unit 7 Exam Questions and Answers 2024
- Exam (elaborations) • 64 pages • 2024
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RECA Residential Unit 7 Exam Questions and Answers 2024 
under which Act/Law are all Alberta municipalities empowered to shape their communities? - 
Answer-MGA - The Municipal Government Act 
Which department is responsible for administration of the MGA? -Answer-Municipal Affairs is 
the department responsible for administering the Municipal Government Act 
MGA contains 3 key topics -Answer-1. Assessment and Taxation 2. Governance and 
Administration 3. Planning and Development 
When was the fir...
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Unit 1 RECA Final Exam Study Guide Test.
- Exam (elaborations) • 7 pages • 2024
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Unit 1 RECA Final Exam Study Guide Test. 
 
 
Define real estate - CORRECT ANSWER refers to land and fixed improvements to land (permanent) 
 
What are the building classifications - CORRECT ANSWER Residential 
Commercial 
Retail 
Institutional 
Agricultural 
 
Real Estate Sectors/Property Types - CORRECT ANSWER Residential 
commercial rural 
property management 
 
characteristics that identifies real estate as limited resource - CORRECT ANSWER scarce 
 
characteristic that defines real es...
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Unit 1 RECA Exam Questions and Complete Solutions
- Exam (elaborations) • 6 pages • 2024
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Unit 1 RECA Exam Questions and Complete Solutions
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RECA Residential Unit 7 Exam Questions and Answers 2024
- Exam (elaborations) • 64 pages • 2024
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RECA Residential Unit 7 Exam Questions and Answers 2024 
under which Act/Law are all Alberta municipalities empowered to shape their communities? - 
Answer-MGA - The Municipal Government Act 
Which department is responsible for administration of the MGA? -Answer-Municipal Affairs is 
the department responsible for administering the Municipal Government Act 
MGA contains 3 key topics -Answer-1. Assessment and Taxation 2. Governance and 
Administration 3. Planning and Development 
When was the fir...
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Fundamentals of Mortgage Brokerage Exam With Complete Solutions
- Exam (elaborations) • 39 pages • 2024
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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...
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RECA Unit 1 Quiz Correctly Solved Exam [100% Correct Answers]
- Exam (elaborations) • 7 pages • 2024
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RECA Unit 1 Quiz Correctly Solved Exam 
[100% Correct Answers] 
Which of the following acts as an accountability mechanism that RECA is obligated to follow under the 
Act? 
A) RECA must compile an annual report for the Minister of Service Alberta for the prior year. 
B) RECA must prepare an annual consumer report detailing the investigations conducted for the Minister 
of Service Alberta. 
C) RECA must create a market report regarding the industries it regulates for the Minister of S...
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Fundamentals of Mortgage Brokerage Exam With Complete Solutions
- Exam (elaborations) • 39 pages • 2024
-
- $14.49
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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...
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