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RECA Fundamentals Exam Study Questions and Answers 2024/2025

RECA Fundamentals of Mortgage Brokerage Exam Questions and Answers 2023-2024

RECA Fundamentals Exam questions with correct answers 100% correctWhich of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the ...

Which of the following is NOT a RECA educational resource for industry professionals? - Answer- Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - Answer- Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time - Answer- Consumer Price Index (CPI) Which of the following will occur to the supply of a good when there is a change in quantity...

1. Principal of Balance - Answer-value is created and sustained where there is equilibrium 10. Principal of Substitution - Answer-a buyer will pay no more for a property than the cost of acquiring a similar and equally desirable property 11. Principal of Contribution - Answer-value of a property attribute relates to the value it adds to the overall value of the property. basis by which adjustments are made to the sale prices of comparable properties 12. Principal of Progression - Answer-pr...

Which of the following is NOT a RECA educational resource for industry professionals? - Answer-Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - Answer-Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time - Answer-Consumer Price Index (CPI) Which of the following will occur to the supply of a good when there is a change in quantity su...

RECA Fundamentals Exam/144 Questions and Answers

1 year - If you don't renew your registration how long is it before you have to get a new criminal record check 10 - How many days does a condo management company have to provide a copy of management agreement upon receiving written request 10,000 for individual 100,000 for business - Max fines from PIPA if convicted of an offence 180 days - Builder has how many days to go to court to register a certificate of lis pendens 1st degree relative - A spouse, or children ate considered what de...