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RECA PROPERTY MANAGEMENT REAL ESTATE COUNCIL OF ALBERTA EXAM COMPLETE 100
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RECA PROPERTY MANAGEMENT REAL ESTATE COUNCIL OF ALBERTA EXAM COMPLETE 100
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RECA PROPERTY MANAGEMENT REAL ESTATECOUNCIL OF ALBERTA EXAM COMPLETE 100
QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) ALREADY GRADED A+
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 - ANSWER >>>>B
According to the Act, which of the following statements apply if an industry professional
whose conduct is subject to disciplinary proceedings make application to withdraw from
the profession?
A) If the application is approved, RECA issues a news release
B) If the application is approved, all disciplinary proceedings are terminated
C) If the application is approved, it is a lifetime ban from all industry professions
governed by RECA
D) All the statements are correct - ANSWER >>>>D
According to the Rules, which of the following statements is correct regarding written
service agreements?
A) Written service agreements must clearly indicate the names of all parties to the
agreement
B) All industry professionals are required to have written service agreements in place
with all clients
C) If a client refuses to sign a written service agreement, the industry professional must
refuse services to that client
D) All the statements are correct - ANSWER >>>>A
A real estate professional's authorization to trade in real estate expired on September
30. However, the real estate professional continued to show properties on behalf of a
property management company for which she received compensation. Given her
actions breached a section of the Rules and were deemed to be potentially serious,
which of the following disciplinary outcomes would the real estate professional receive?
A) Consent Agreement
B) Letter of Reprimand
C) Temporary Suspension
D) Administrative Penalty - ANSWER >>>>D
Which privacy legislation affects how Alberta real estate professionals handle client
information?
,Privacy Information Act
Right to Personal Privacy Act
Personal Information Protection Act
Personal Information Protection and Electronic Documents Act
A) Statements I and II
B) Statements I and IV
C) Statements II and III
D) Statements III and IV - ANSWER >>>>D
When the licence of a real estate brokerage is suspended, what actions must real
estate professionals who are registered with the brokerage take?
A) They must cease to trade in real estate
B) They must cancel their authorization with RECA
C) They must apply for withdrawal from the profession
D) They must become registered with another brokerage - ANSWER >>>>A
Which of the following Professional Conduct Review outcomes is issued as a practice
guideline for a technical breach of the legislation?
A) Advisory Note
B) Production Order
C) Letter of Reprimand
D) Administrative Penalty - ANSWER >>>>A
Mary, a real estate professional registered with ABC Real Estate Brokerage, has agreed
to purchase her neighbour's ranch. The seller of the property is not represented by a
real estate professional. What level of disclosure does Mary need to provide?
A) Disclosure level 1
B) Disclosure level 2
C) Disclosure level 3
D) No disclosure level - ANSWER >>>>B
Pursuant to the Rules, which of the following is a result of an industry professional's
failure to immediately notify the Executive Director of changes to information provided in
support of a licence application?
A) Executive Director may refer the matter for a Professional Conduct Review
B) Executive Director may suspend the industry professional's licence
C) Executive Director may cancel the industry professional's licence
D) All the statements are correct - ANSWER >>>>D
Stan, a real estate professional registered with McAgent Real Estate Brokerage has just
listed his commercial property for lease with his brokerage. Jim, another real estate
professional registered with the same brokerage tells Stan that he has a client
interested in leasing the property. What level of disclosure is required in this situation?
A) Disclosure level 1
B) Disclosure level 2
, C) Disclosure level 3
D) No disclosure level - ANSWER >>>>C
With respect to brokerage record keeping, which of the following statements is correct?
Brokerage records must be kept in Alberta
Brokerage records may be maintained in electronic form
Brokerage records must be kept by the brokerage for 3 years
Brokerage records must be accessible to RECA for inspection
A) Statements I, II, and III
B) Statements I, II, and IV
C) Statements I, III, and IV
D) All the statements are correct - ANSWER >>>>D
Which of the following is NOT a purpose of RECA?
A) To set and enforce standards of conduct for the industry
B) To administer the Act as provided in the Act
C) To amend the Act as determined by Council
D) To protect against and suppress mortgage fraud - ANSWER >>>>C
Which of the following statements does NOT apply to a duty-based approach to ethical
decision-making?
A) This approach seeks the best result for the most number of people
B) This approach perceives an individual's intentions or motives as important
C) This approach is based on a belief in a universal moral system of ethical reasoning
D) This approach believes that an individual should do the right thing because it is the
right thing to do - ANSWER >>>>A
What is the maximum amount the Real Estate Assurance Fund may pay per claimant
for damages or losses related to the services of a real estate professional?
A) $100,000 maximum
B) $35,000 maximum
C) $25,000 maximum
D) No maximum amount - ANSWER >>>>B
What is the purpose of the Real Estate Assurance Fund?
A) To compensate a real estate brokerage for the loss of commissions related to
unsuccessful trades
B) To compensate sellers when potential buyers fail to obtain the required mortgage
financing to purchase the property
C) To compensate consumers who have received a court judgment against a real
estate professional for fraud or breach of trust
D) To compensate property owners in the event that foreclosure proceedings are
commenced during a real estate transaction - ANSWER >>>>C
Which of the following statements describe civil liability?
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