Reca practice - Study guides, Class notes & Summaries

DECA Practice Exam Question BUSINESS ADMINISTRATION CORE

Which of the following statements describe a competent real estate professional? A) A real estate professional who agrees to provide services they are incapable of performing B) A real estate professional who possesses the necessary ability and knowledge to perform services proficiently C) A real estate professional who places their interests above that of the client's interests D) A real estate professional who performs some due diligence activities for clients as time allows - B Which ...

Reca Practice Questions and Answers (100% Pass)

Reca Practice Again with Questions and Answers When considering a buyer's qualifications , a lender will use the 5 " C's " to evaluate the borrower's ability to repay a loan . The 5 " Cs " are : Character , Capacity, Continuance Capital, Credit Capacity, Continuance, Capital, Collateral, Credit Capital, Credit, Collateral, Capacity, Character ANSWER Capital , Credit , collateral , Capacity , Character The definition of " amperage " is : The rate of electrical flow . E...

c 1. the business agreement under which a business distributes the goods or services of a parent company is called a. partnership b. corporation c. franchise d. proprietorship c 2. what is an effective technique for employees to use to extract relevant information from written materials? a. develop a rough outline b. ask frequent questions c. take notes while reading d. skim through chapter titles d 3. what information should employees avoid sharing with their coworkers?...

RECA PRACTICE EXAM QUESTIONS AND ANSWERS

reca Practice Exam (residential) Questions and Answers Latest (2023 / 2024) (Verified Answers)

Which of the following is part of RECA's commitment to consumer protection? - AnswerWhat are some benefits that mortgage brokerage trade associations offer their members? - Answer- Licensing Standards for mortgage industry members Which entity has the authority to amend the Act? - Answer- Provincial Legislators Which of the following represents an accountability mechanism that RECA must comply with under the Act? - Answer- Previous Fiscal year In addition to mortgage brokerage trade associ...

A township is divided into how many sections? - 36 - 1 mile by 1 mile condominium (condo) - form of ownership with the owners holding legal title to their own housing unit among many, with common grounds and facilities shared ownership cooperatives (co-ops) - -buildings owned by corporations with the residents as shareholders who each receive a properietary lease on an individual unit and the right to use common areas Covenant (personal covenant) - express consent - an oral or written agre...

RECA PRACTICE EXAM