RECA Bundled Exams Questions and Answers Multiple Versions (2024/2025) (Complete and Accurate)

RECA Unit 10 Questions and Answers Rated A+ Lou, a real estate appraiser, is being pressured by a client to overstate the value of a residential property in order for the mortgage financing to be approved. Which type of mortgage fraud scheme does this situation describe? Mortgage assumption ...

Unit Quiz Reviews Questions and Answers Already Passed Which of the following indicators are used to calculate Gross Domestic Product (GDP)? I. Imports II. Consumer Spending III. Business Spending IV. Net income from foreign residents Statements I, II and III Which of the following ...

RECA Unit 4 Quiz Latest Update 100% Pass Which of the following is an example of an encumbrance on the title? 1. An easement 2. A caveat 3. An encroachment agreement 4. A discharge of registration A) Statements I, II, and IV B) Statements I, II, and III C) Statements II, III, and IV...

RECA Unit 7 Quiz Latest Update Graded A+ What are Alberta's six natural water sources? A) Surface water, rain water, rivers, river basins, lakes, and wetlands B) Surface water, rivers, river basins, frozen water, lakes, and springs C) Surface water, rivers, river basins, lakes, wetlands, a...

RECA Unit 2: Questions (Sessions and Unit Exam) which of the following is not a responsibility of the broker providing an independent and objective analysis of a real estate transaction which of the following statements is not correct regarding the role of the industry professional real e...

Unit 3 Quiz Latest Update Graded A+ Yan is a real estate professional representing a seller who wishes to use their own property measurements for marketing their property. However, Yan knows he is responsible for ensuring the property is measured according to the RMS. Which of the following sta...

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 i...

RECA Unit 1 Quiz Latest Update Graded A+ Which of the following represents an accountability mechanism that RECA must comply with under the Act? A) RECA must prepare for the Minister of Service Alberta an annual report for the previous year end B) RECA must prepare for the Minister of Se...

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 Obliga...

Residential Real Estate RECA Terms 100% Correct General Power of Attorney -No limits on powers to make decisions about donors financial and legal affairs -The one exception is decisions about the donors personal affairs such as consenting to health care or deciding where the donor should ...

RECA Questions and Answers Already Passed Which of the following may RECA amend from time to time? A) The Act B) The Rules C) The Regulations D) All the statements are correct B According to the Act, which of the following statements apply if an industry professional whose conduct is su...

RECA Commercial Unit 2 Questions and Answers Graded A+ Commercial real estate assets have a number of attributes that make them unique relative to other types of investments. These attributes include the following: (x10) 1. They involve land 2.Transaction time frames are long 3. Transaction...

RECA Fundamentals Study Guide Latest Update Graded A+ duty-based ethics Individual is expected to do the right thing cause it's the right thing to do, regardless of outcome utalitarian ethics Sells the optimal result for the greatest number of people Advisory note Punishment for a tech...

RECA Residential Exam Questions and Answers Rated A+ 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 profess...