Reca unit 5 1 - Study guides, Class notes & Summaries

Unit 2(RECA)QUESTIONS WITH COMPLETE SOLUTION LATEST 2023/2024The purposes of RECA according to the Act is the following... - correct answer 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws - correct a...

RECA Residential Unit 1, 2,3,4,5,6,7,8 &9 Questions and Answers Latest Update Already Passed 3 fundamental principles of fiduciary duty. AKA the 3 principles that give rise to fiduciary duties in a representation relationship: Trust and Confidence, Best Interests, Loyalty 8 General Obligations of REPs Exercise Care and Skill, Act Honestly, Negotiate Favourable terms, Maintain Confidentiality, Disclose Information, Act in Person, Obey Lawful Instructions, Perform Mandate 6 Points ...

UNIT 5: CONSUMER RELATIONSHIPS LATEST UPDATE GRADED A+ Common Law made by the courts. Government + courts = common law. Laws are either passed by either federal or provincial gov's are referred to as statute law. Non-Representation Relationship Involves a REP working with a party to trade in real estate, but is not acting on behalf of that party. This party is referred to as a customer. General obligations are required. Customer an individual or organization who has contacted but n...

RECA Residential Unit 7 Exam Questions and Answers 2024 under which Act/Law are all Alberta municipalities empowered to shape their communities? - Answer-MGA - The Municipal Government Act Which department is responsible for administration of the MGA? -Answer-Municipal Affairs is the department responsible for administering the Municipal Government Act MGA contains 3 key topics -Answer-1. Assessment and Taxation 2. Governance and Administration 3. Planning and Development When was the fir...

Reca Unit 5-1 Common Law And Real Property Law Questions And Answers Well Elaborated

RECA Unit 2 Exam QUESTIONS AND ANSWERS 2023 UPDATE GRADED A+ The purposes of RECA according to the Act is the following... - Answer- 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws - Answer- 1: Ru...

RECA unit 5-1 common law and real property law QUESTIONS and Answers

RECA Unit 5 Quiz Latest Update Graded A+ Which of the following statements is correct regarding average sale price statistics? 1. The figure depends on the price of properties that sold that month 2. The figure may decrease if fewer expensive properties sold that month 3. The figure may increase if more expensive properties sold that month 4. The figure does not mean the value of any specific property increased/decreased A) Statements I, II and III B) Statement I, III and IV C) St...

RECA Residential Unit 7 Exam Questions and Answers 2024 under which Act/Law are all Alberta municipalities empowered to shape their communities? - Answer-MGA - The Municipal Government Act Which department is responsible for administration of the MGA? -Answer-Municipal Affairs is the department responsible for administering the Municipal Government Act MGA contains 3 key topics -Answer-1. Assessment and Taxation 2. Governance and Administration 3. Planning and Development When was the fir...

Unit 2(RECA)QUESTIONS WITH COMPLETE SOLUTION LATEST 2023The purposes of RECA according to the Act is the following... - correct answer 1. Set and enforce rules for industry members to follow, to promote integrity, and protect the consumer from mortgage fraud. 2. Provide services that help industry professionals in the industry. 3. Administer (enforce) the Act through the Rules, Regulations & Bylaws Describe and explain the differences between the Rules, Regulations & Bylaws - correct answer...