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Session 2 Real Estate Broker Authorizations Questions And Answers With Verified Solutions 100% Correct!!!
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Session 2 Real Estate Broker Authorizations Questions And Answers With Verified Solutions 100% Correct!!!

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  • November 20, 2024
  • 17
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • what is a real estate a
  • session 2 real estate broker authorizations questi
  • what does the office of registrar manage
  • what are the 4 real estate professional licence cl
  • what is a brokerage authorization

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  • Certified Professional Property Specialist
  • Certified Professional Property Specialist

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Session 2 Real Estate Broker
Authorizations Questions And Answers
With Verified Solutions 100% Correct!!!
A real estate brokerage is a person who? - ANSWER✔✔ Is licensed by the
Council as a brokerage and employs or has associated with a licensed and
registered real estate broker.


Associate Broker to Broker? - ANSWER✔✔ Each brokerage can only have one
real estate professional registered as its broker. Therefore, when an associate or
associate broker upgrades to a broker licence aftwr meeting the education and
experience requirements that individual would have to become a broker in one of
the following ways:
Replace the broker at the brokerage where they are currently registered.
Transfer to an existing brokerage to become the broker.
Open a new brokerage and become a broker. RECA must process the applications
and upgrade the class of licence to broker.


Authorization for real estate brokers, associate brokers, and associates? -
ANSWER✔✔ 1. A real estate broker licence and registration certificate issued by
the Council under these Rules constitutes the authorization required under the Act
for a real estate broker to operate a real estate brokerage and trade in real on behalf
of a brokerage.
2. A real estate associate broker or associate licence and registration certificate
issued by the Council under these Rules constitute the authorization required under
the Act for a real estate associate broker or associate to trade in real estate on
behalf of a brokerage.
3. A real estate broker, associate broker or associate may renew his registration
certificate by submitting a completed application to the Executive Director,
together with any fees, premiums or levies established by the Council, by
September 30 of the current licensing year.

,4. An individual must not trade in real estate or in any way hold himself out as a
real estate broker, associate broker or associate until such time as the individual
has been issued a licence and is registered with a brokerage licensed by the
Council.


Authorization Reinstatement? - ANSWER✔✔ Former real estate professional
wishes to be authorized again, there are a number of requirements that they must
meet. However, these requirements vary based on the length of time that they have
ceased to be registered with a brokerage. Section 28 establish the re-entry
requirements for former industry professionals:
a. proof of identity of the applicant in a form and manner prescribed by the
executive Director
b. a current and original certified criminal record check in the legal name of the
applicant in a form and manner prescribed by the executive Director. Re-entry
requirements are based on length of time they have been absent from the industry.


Authorization Suspension or Cancellation? - ANSWER✔✔ fail to do one of the
following:
Comply with a term, condition, or restriction attached to their licence.
Comply with an order of a Hearing or Appeal Panel or court.
Pay, or make suitable arrangements to pay, any outstanding monies required to be
paid pursuant to the Act, Rules, Regulations, or Bylaws.
Swears a false affidavit
Provides false or misleading information.
Fails to comply with a request for additional information in connection with a
licensing matter.
Does not participate in or complete required education courses or examinations
honestly an in compliance with the Education Code of Conduct for Learners.
Provides false or misleading information on fulfilling educational or examination
requirements.

, Fails to maintain appropriate insurance coverage.
Fails to submit any records or reports required under the legislation.


Authorization Termination - ANSWER✔✔ Real Estate professionals may choose
not to be authorized. This would result in the termination 9f their authorization to
trade in real estate. that individual has 36 months from the date of termination of
the registration to become registered again without having to meet the pre-
licensing education requirements in place at the time.


Brokerage Business Office requirements? - ANSWER✔✔ A licensed brokerage is
required to have a business office in Alberta. An Office location acceptable to the
Executive Director is important in order for RECA to appropriately govern its
respective professions. Office location is the address for service for the brokerage
and each of the industry professionals registered with the brokerage for RECA to
serve documents pursuant to the Act. Records required to be maintained at the
brokerage must be accessible to RECA at the brokerage office. All must provide
the brokerage with all records to be maintained by the brokerage.


Changing license class, Associate to Associate Broker! - ANSWER✔✔ In order
for a real estate associate to become licensed as an associate broker, they must
meet the following requirements:
Successfully complete REAP in all specialty sectors of real estate practice and
exams.
Successfully complete the Real Estate Brokers Program.
Score 70 percent or higher on the REBP final exams.
Have two years of experience in Alberta as a licensed real estate professional
within the previous five years(this is only a requirement to become a broker, not an
associate broker).

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