Reca mortgage broker Study guides, Class notes & Summaries

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? - Disclosure level 1 When evaluating an ethical dilemma, the first step is awareness. An individual may become aware of an ethical dilemma through a variety of ways. Which one of th...

Alberta Real Estate Fundamentals Questions With All Correct Answers Real Estate - -The land and fixed improvements to the land Classes of License - -1. Associate 2. Associate Broker 3. Broker 4 Areas of Practice - -1. Residential 2. Commercial 3. Rural 4. Property Management Mobile homes fall under the same category as recreational properties - -False Industrial Properties - -Include warehouses and custom-built manufacturing plants Residential Income property - -Include low-rise and ...

Alberta Real Estate Fundamentals Exam Questions And Answers Real Estate - ANS The land and fixed improvements to the land Classes of License - ANS 1. Associate 2. Associate Broker 3. Broker 4 Areas of Practice - ANS 1. Residential 2. Commercial 3. Rural 4. Property Management Mobile homes fall under the same category as recreational properties - ANS False Industrial Properties - ANS Include warehouses and custom-built manufacturing plants Residential Income...

The purposes of RECA according to the Act is the following... - correct 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 - correct answer 1: Rules are a set of instructions to be followed by a...

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- Previous Fiscal year In addition to mortgage brokerage tr...

Real Estate correct answerland and fixed improvement to the land if an item cannot be removed from property without damage to the property, it is considered a fixture and part of real estate (include portable dwellling) industry member correct answerany person authorized by RECA as real estate broker, mortgage broker or real estate appraiser, include any class of licensing and registration issued by RECA economics correct answermacroeconomics: analyzes economy-wide phenomena microeconomic...

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: Rules are a set of instructions to be followed by all industry pro...

Land The ground & that which is beneath & above it Real estate land & fixed improvements to the land 00:35 01:34 Real property land, fixed improvements & intangible rights of ownership Personal Property Items that can be removed without damaging to the the property Surface rights Rights assoctiaed with physcial ground (top layer of land) Supply The quantity supplied is the amount of good or service the market can offer at a certain price. Produc...

Real Estate correct answerland and fixed improvement to the land if an item cannot be removed from property without damage to the property, it is considered a fixture and part of real estate (include portable dwellling) industry member correct answerany person authorized by RECA as real estate broker, mortgage broker or real estate appraiser, include any class of licensing and registration issued by RECA economics correct answermacroeconomics: analyzes economy-wide phenomena microeconomic...

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...