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

Fundamentals of Mortgage Brokerage Exam With Complete Solutions AACI - answerAccredited Appraiser Canadian Institute - designation granted by Appraisal Institute of Canada Accelerated Payments - answerpayment options stream whereby the monthly mortgage payment is either split in half or in quarters and is paid every two weeks (bi-weekly) or every week (weekly) Accredited Mortgage Professional - AMP - answernational designation for mortgage professionals in Canada issued by the Canadian A...

RECA Residential Unit 2 Exam (Graded A Plus) with Questions and Validated Answers 9 things that, when representing sellers, REPs can do ANSWER 1. Identify the features, qualities, and advantages that relate to the sellers' property 2. Describe the property appropriately in the applicable listing service and property databases. 3. Market the property based on the features, qualities, and advantages. 4. Promote the property and answer their buyers' questions regarding it. 5. Accurately answer...

The term real estate refers to the land and fixed improvements to the land. -True The classes of license for real estate professionals includes associates, associate broker, and broker. - True Real estate professionals can be authorized in four areas of practice: Residential, Commercial, Mortgage, Brokerage. -False. The four areas authorized for practice are: residential, commercial, rural, and property management

RECA Rural Part 1 Correctly Solved Exam [100% Correct Answers] What area does an acre cover? **Ans** An acre covers an area of 43,560 square feet. How many hectares are in an acre? **Ans** One acre is equivalent to 0.4047 hectares. What are animal unit equivalents? **Ans** Animal unit equivalents (AU) are a standard measure used to evaluate the grazing impact of different types of livestock and wildlife. For example, Animal Unit Months (AUM) indicate the duration livestoc...

RECA Commercial Unit 2 Correctly Solved Exam [100% Correct] Commercial real estate properties exhibit several features that set them apart from other investment types. These features include the following: (x10) **Answer:** 1. They involve land 2. Transaction timelines are long 3. High transaction costs 4. Expensive assets 5. Durable, long-lasting properties 6. Heavily regulated 7. Prolonged production cycle 8. Require intensive management 9. Unique and heterogeneous as...

Unit 1 RECA Exam Questions With Verified Answers Define real estate - answerrefers to land and fixed improvements to land (permanent) What are the building classifications - answerResidential Commercial Retail Institutional Agricultural Real Estate Sectors/Property Types - answerResidential commercial rural property management characteristics that identifies real estate as limited resource - answerscarce characteristic that defines real estate as indestructable - answerdurable real ...

Unit 5 Of the RECA Fundamentals Exam Review Questions and answers, VERIFIED/ What are the two types of laws? - -Statute law: Federal or Provincial law Common law: Laws based on previous decisions on similar matters When you make an agreement/contract with a client is that agreement with you or the brokerage? - -it is not with you, it is with the brokerage There are representative relationships and non-representative relationship relationships. When does it become a representative rela...

RECA PRACTICE EXAM QUESTIONS and answers 2023Meridians and ranges are - correct answer Longitudal lines condominium (condo) - correct answer 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) - correct answer -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 Regar...