Exam (elaborations)
Unit 5 Of the RECA Fundamentals Questions and Answers (100% Pass)
- Course
- Institution
Unit 5 Of the RECA Fundamentals Questions and Answers (100% Pass)
[Show more]
Content preview
©PREP4EXAMS@2024 [REAL EXAM DUMPS] Monday, July 22, 2024 1:06 PMUnit 5 Of the RECA Fundamentals
Questions and Answers (100% Pass)
What are the two types of laws? - ✔️✔️Statute law: Federal or Provincial law
Common law: Laws based on previous decisions on similar matters
When you make an agreement/contract with a client is that agreement with you or the brokerage?
- ✔️✔️it is not with you, it is with the brokerage
There are representative relationships and non-representative relationship relationships. When
does it become a representative relationship? - ✔️✔️When they sign a contract or a verbal
agreement.
Is a real estate agent allowed to represent both buyer and seller? - ✔️✔️No the agent would then
be in a conflict of interest. The agent is only allowed to either represent the buyer or the seller....
Unless there is a written letter stating that both parties are okay with the conflict of interest.
What are the 5 D's of Role of clarity? - ✔️✔️1 Discuss
2 Determine
3 Document
4 Disclose
5 Do
What are the obligations to the client that you have?? - ✔️✔️• Exercise Skill and care
• Act Honestly
• Perform Mandate
• Obey Lawful Instructions
• Act in Person
• Disclose Information
1
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller OliviaWest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79650 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now