Reca exams - Study guides, Class notes & Summaries

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: Rules are a set of instructions to be followed by all industry profe...

RECA Residential Exam Questions and Answers 100% Pass LATEST FOR 2024 EXAMS.

RECA RESEDENTIALS EXAMS 2023-2024 QUESTIONS WITH COMPLETE SOLUTIONS Fiduciary Representation - ANSWER- I. Trust and confidence II. Best interests III. Loyalty 5 Ds of Role Clarity - ANSWER- I. Discuss II. Determine III. 3. Document IV. 4. Disclose V. 5. Do Must disclose in writing - ANSWER— I. the nature of services provided II. - whether professional has entered representation relationship with other party III. any conflicts of interest IV. any other facts that may influenc...

RECA Residential Exam Questions and Answers 100% Pass LATEST FOR 2024 EXAMS

Complete some basic suitability questions Then the application is routed from RECA to your broker, where he accepts the application, and either you or the broker pays the fee Describe the process for going from associate, to associate broker - ANSWER For an associate to become an associate broker they must: Complete all REAP practice courses, complete the Real Estate Brokers Program. Score 70% or more on the final exams. Practice two years in Alberta as a licensed professional within the las...

RECA PRACTICE EXAMS QUESTIONS WITH VERIFIED ANSWERS GRADED A+ 2023-2024 Meridians and ranges are - ANSWER-Longitudinal lines Condominium (condo) - 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) - ANSWER--buildings owned by corporations with the residents as shareholders who each receive a proprietary lease on an individual unit and the right to use common areas ...