100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
RECA Fundamentals Exam Questions Correctly Answered. $12.99   Add to cart

Exam (elaborations)

RECA Fundamentals Exam Questions Correctly Answered.

 3 views  0 purchase
  • Course
  • RECA.
  • Institution
  • RECA.

RECA Fundamentals Exam Questions Correctly Answered. duty-based ethics - CORRECT ANSWER Individual is expected to do the right thing cause it's the right thing to do, regardless of outcome utalitarian ethics - CORRECT ANSWER Sells the optimal result for the greatest number of people Advi...

[Show more]

Preview 3 out of 23  pages

  • September 18, 2024
  • 23
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • reca
  • RECA.
  • RECA.
avatar-seller
Nursewendo
RECA Fundamentals Exam Questions
Correctly Answered.

duty-based ethics - CORRECT ANSWER Individual is expected to do the right thing cause it's the right
thing to do, regardless of outcome



utalitarian ethics - CORRECT ANSWER Sells the optimal result for the greatest number of people



Advisory note - CORRECT ANSWER Punishment for a technical breach



Administrative penalty/ fine - CORRECT ANSWER One or two potentially serious infraction would cause
this punishment



Ratification- acting without authority or in excess of authority

Implication- advice outside of objective - CORRECT ANSWER These two ways of creating a
representation relationship should not be done in real estate



By Estoppel - CORRECT ANSWER This representation relationship arises when a principal acts in a way
that leads a third party to believe an agent has been given authority when in actuality the agent hasn't
consented or even knows about it



By operation of law - CORRECT ANSWER This type of representation relationship is created when
someone takes action to save a property or person from imminent danger/ damages



Ethics - CORRECT ANSWER Voluntary set of rules and guiding principles an individual uses as their moral
compass. Standard of conduct adopted and practiced within a culture or society li



Morals - CORRECT ANSWER A set of beliefs held by an individual and founded on fundamental principles
of right and wrong. Ex. Religious

,Tort law - CORRECT ANSWER What area of law deals with civil wrong doings for which the courts may
grant a remedy. ( harm to a person or damage to property)



35,000$ - CORRECT ANSWER Max the real estate assurance fund may pay per claimant for damages or
losses to the services of a real estate professional



Purpose of Real Estate Assurance Fund - CORRECT ANSWER Compensate consumers who have received
court judgement against a real estate professional for fraud or breach of trust



Real estate insurance exchange

REIX - CORRECT ANSWER To protect real estate professionals when they make a mistake regarding their
business



Kohlbergs highest stage of moral development - CORRECT ANSWER Where moral development is based
on individual reflection and analysis of the issues ( level 3 stage 6)



Right of Recission - CORRECT ANSWER The ability of purchasers to cancel their purchase contract with a
developer within 10 days



Condominium - CORRECT ANSWER Ownership in common with others



CADS - CORRECT ANSWER If someone forgets the condo management company name for any reason
where would they find it



General power of attorney - CORRECT ANSWER Can make all decisions about finances or legal affairs has
no limit other then where they'll live or health care



Yes - CORRECT ANSWER Will power or at tourney be on the title



building permit - CORRECT ANSWER Permit that applies to specific project that is an improvement to the
property

, development permit - CORRECT ANSWER Permit that applies to overall use of the land



It was legal at time of development - CORRECT ANSWER Non conforming suite means ?



Waterworks

Repair of roads

Ambulance - CORRECT ANSWER Municipal special taxes are for



Business revitalization tax - CORRECT ANSWER Taxes used in a business district to improve beauty,
parking, or promote



24 hrs - CORRECT ANSWER Landlord may enter without consent but with notice after giving how much
notice



Assignment - CORRECT ANSWER Tenant isn't returning to the property so all obligations and rights go to
the new tenant



Sublease - CORRECT ANSWER Tenant will be returning to the property, and they're still liable to the
landlord



Condominium Property Act - CORRECT ANSWER Condos are governed by the



Agricultural and recreational land ownership act - CORRECT ANSWER This act prevents non Canadians
from buying significant amounts of prime land



Personal information - CORRECT ANSWER Refers to information that makes an individual identifiable



FINTRAC - CORRECT ANSWER Real Estate brokerages must report suspicious transactions to which
organization



Express

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 Nursewendo. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

75632 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$12.99
  • (0)
  Add to cart