Alberta Real Estate Fundamentals questions and correct answers 2023Real Estate
The land and fixed improvements to the land
Classes of License
1. Associate
2. Associate Broker
3. Broker
4 Areas of Practice
1. Residential
2. Commercial
3. Rural
4. Property Management
Mobi...
Alberta Real Estate Fundamentals questions and correct answers 2023
Real Estate - correct answer The land and fixed improvements to the land
Classes of License - correct answer 1. Associate
2. Associate Broker
3. Broker
4 Areas of Practice - correct answer 1. Residential
2. Commercial
3. Rural
4. Property Management
Mobile homes fall under the same category as recreational properties - correct answer False
Industrial Properties - correct answer Include warehouses and custom-built manufacturing plants
Residential Income property - correct answer Include low-rise and high-rise apartments,
duplexes, fourplexes, and townhouses
Characteristic: Scarce - correct answer Identifies real estate as a limited resource
Characteristic: Durable - correct answer Identifies real estate as indestructible
Characteristic: Fixed - correct answer Identifies real estate as immobile
Characteristic: Unique - correct answer Identifies parcels of land as being different from one another
Characteristic: Private - correct answer Identifies how real estate transactions are conducted between a buyer and seller
Characteristic: Supply/Demand - correct answer Identifies the slow response of these 2 market forces affecting real estate
Characteristic: Standardized - correct answer Identifies the inability to marker properties
for all areas of real estate in a universal approach
Characteristic: Local - correct answer Identifies real estate transactions as occurring in a defined area
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