Reca special exam - Study guides, Class notes & Summaries

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...

RECA Commercial Unit 2 Correctly Solved Exam [100% Correct] Commercial real estate properties exhibit several features that set them apart from other investment types. These features include the following: (x10) **Answer:** 1. They involve land 2. Transaction timelines are long 3. High transaction costs 4. Expensive assets 5. Durable, long-lasting properties 6. Heavily regulated 7. Prolonged production cycle 8. Require intensive management 9. Unique and heterogeneous as...

RECA Residential Exam Questions and Answers 100% Correct 2024 Fiduciary Representation - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship made to clari...

RECA fundamentals study guide Exam Questions And Answers duty-based ethics - ANS Individual is expected to do the right thing cause it's the right thing to do, regardless of outcome utilitarian ethics - ANS Sells the optimal result for the greatest number of people Advisory note - ANS Punishment for a technical breach Administrative penalty/ fine - ANS One or two potentially serious infraction would cause this punishment Ratification- acting without authority or in exc...

RECA Residential Exam Latest Updated 2024 Power of Attorney - a legal document authorizing someone to act on your behalf - must be 18 - POA must be written, dated and signed by both donor and witness - donor must be mentally capable or contract is void - only effective as long as donor is alive, will takes effect once death Types of POA - General POA - has no limits on powers of the attorney  - can make all decisions regarding financial and legal affairs - exception where the donor r...

RECA Residential Exam 100% correct Answers [VERIFIED] **Fiduciary Representation** **Ans** Fiduciary representation involves trust and confidence. A fiduciary is required to act in the best interests of the client, maintaining loyalty throughout the relationship. **5 Ds of Role Clarity** **Ans** Role clarity is achieved by first having a discussion to identify roles, determining the responsibilities of each party, documenting the agreements, disclosing relevant informatio...

RECA Residential Exam questions and answers latest 2023Fiduciary Representation - correct answer - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity - correct answer 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - correct answer - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision t...

RECA Residential Exam Questions With Verified Answers Fiduciary Representation - answer- Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity - answer1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - answer- the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship m...

RECA Fundamentals Study Guide Exam Questions And Answers (Updated And Verified) Duty-based ethics - answerIndividual is expected to do the right thing cause it's the right thing to do, regardless of outcome utalitarian ethics - answerSells the optimal result for the greatest number of people Advisory note - answerPunishment for a technical breach Administrative penalty/ fine - answerOne or two potentially serious infraction would cause this punishment Ratification- acting without autho...

RECA Residential Exam questions and answers latest 2023Fiduciary Representation - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship made to c...