RECA Exam| Questions and Verified
Answers|100% Correct| 2023\/ 2024
Q: Which of the following best describes a written acknowledgement?
Answer:
It should state that the consumer received and understands the written disclosure made by a real
estate professional
Q: Which of the following types of authority allow an agent to act according to the usual ways
of performing an action as established by the profession?
Answer:
Customary authority
Q: Which of the following responsibilities do real estate professionals owe customers?
Answer:
Only some general obligations
Q: If a real estate professional cannot provide competent service to a client, which of the
following statements describe actions that the real estate professional should take?
The real estate professional may refer the client to another real estate professional who
specializes in that area of practice or geographic region
The real estate professional may continue to represent the client in a trade or potential trade and
provide services to the best of their ability
The real estate professional may terminate the representation relationship and refer the client to
another real estate professional at a different brokerage
The real estate professional may work under the supervision of another real estate professional at
the same brokerage who possesses the relevant experience
Answer:<\/p>\n\n\n\n
Statements I and IV
Q: If performance of a contract is impossible, what is the reason for the contract ending?
Answer:
Frustration
Q: What is meant by a discharged contract?
Answer:
A contract that was valid and has now ended
Q: Rodney has applied for a mortgage through Regional Mortgage Brokers Ltd. The mortgage
associate there explains that the term of the mortgage is for 3 years and Rodney is in agreement.
While signing the mortgage document with the lawyer, Rodney sees that the term is for 5 years.
Rodney does not mention the misunderstanding and accepts the 5-year term. Based on an
understanding of contracts, what type of mistake is this?
Answer:
Unilateral mistake
Q: Which statement is true when the ownership of a property is referred to as ‘tenancy in
common’?
Answer:
Owners may have unequal ownership interest in the property
Q: Which of the following statements defines the purpose of unit factors?
Sets unit responsibility for common area expenses
Defines the voting rights of the unit owner
Determines the monthly contribution for the unit<\/p>\n\n\n\n
Sets the value of the unit for property tax purposes
Answer:
Statements I, II, and III
Q: How often must a condominium corporation hold an annual general meeting?
Answer:
Within 15 months of the last one
Q: Which of the following statements are associated with the Principle of Highest and Best
Use?
Legal permissibility based on municipal land use classifications and bylaws
Physical potential of the land based on its size, shape, and topography
Financial feasibility and maximum productivity potential for development
Political possibility based on the ability to achieve development approvals
Answer:
Statements I, II, and III
Q: Why is the value of a property based on a property valuation often different from that of a
property assessment?
Assessments are based on sales as far back as a year ago
Property valuations rely on the most recent sales
Assessments are done for taxation as opposed to a sale
Assessments use a different process referred to as mass appraisal
Answer:
All Statements Apply
Q: Which of the following indicators are used to calculate the Gross Domestic Product (GDP)?
Imports
Consumer spending<\/p>\n\n\n\n
RECA Exam| 200+ Questions and Verified
Answers|100% Correct| 2023\/ 2024
Q: Under the Residential Tenancies Act, when can a landlord enter a tenant’s leased premises
without consent or notice?
A) When a fire alarm has sounded and the fire department requires access to all of the units to
check for the source of the fire
B) When the landlord has not seen the tenant or received rent in 2 months and newspapers are
collecting at the front door of the premises
C) When water is leaking into a unit and the landlord has to determine where the leak originates
D) All of the statements apply
Answer:
D
Q: What is meant by the term ‘current’ Real Property Report?
A) A Real Property Report that is maintained in the land surveyor’s database for 7 years
B) A Real Property Report that has been created within the past 12 months
C) An existing Real Property Report plus a seller’s Affidavit that no further property
improvements have been made
D) A Real Property Report that reflects the same property detail today as on the date the report
was done
Answer:
D
Q: What is an encroachment?
A) An item that is built on an adjoining property
B) A right acquired by one party to use the land of another
C) A notice that someone is claiming an interest in the land
D) All of these are encroachments
Answer:
A<\/p>\n\n\n\n
Q: What is the significance of a Municipal Certificate of Compliance?
A) It confirms that the building location complies with the Municipal Land Use Bylaw
B) It confirms that the location of the suite complies with the Municipal Land Use Bylaw
C) It confirms that the address of the property is correct according to municipal records
D) It confirms that the legal description of the property conforms to municipal standards
Answer:
A
Q: An owner of a property has diverted groundwater without having received authority from
the Alberta Government. According to the Water Act, what requirement must be met for the
individual to be able to divert water?
A) A water permit is required
B) A water licence is required
C) A water easement is required
D) A water agreement is required
Answer:
B
Q: According to the Municipal Government Act, what is a ‘mill rate’?
A) The amount of assessed value paid by commercial mills
B) The amount per thousand dollars of assessed value of property
C) The percentage of property taxes in a particular municipality
D) The percentage of property taxes as part of municipal revenues
Answer:
B
Q: Which of the following types of Condominium Plans have units that are parcels of land with
boundaries defined by floors, walls and ceilings?
Answer:<\/p>\n\n\n\n
Barely Blended Condominium Plans
Q: Which of the following types of Condominium Plans often includes a common property
unit?
Answer:
Barely Blended Condominium Plans
Q: On which of the following condominium documents are instruments registered that affect
either the common property or the condominium corporation?
A) Condominium Plan
B) Certificate of Title
C) Condominium Additional Plan Sheet
D) Certificate of Insurance
Answer:
C
Q: Real estate transactions involving units in which type of condominium require a Real
Property Report (RPR)?
Answer:
Bare Land Condominium
Q: Which of the following statements defines the purpose of unit factors?
a) Sets unit responsibility for common area expenses
b) Defines the voting rights of the unit owner
c) Determines the monthly contribution for the unit
d) Sets the value of the unit for property tax purposes
Answer:
a, b, c<\/p>\n\n\n\n
Q: Which formula correctly illustrates the relationship among the components of a Balance
Sheet?
A) Equity = Assets + Liabilities
B) Assets = Liabilities + Equity
C) Liabilities = Equity + Assets
D) None of these are correct
Answer:
B
Q: Sam, a real estate professional, has just listed a unit for sale and he wishes to contact the
condominium management company to get more information. However, the owner cannot
remember the name of the company. Where would Sam find this information?
A) On the unit title
B) On the CADS
C) On the Estoppel Certificate
D) On the Certificate of Insurance
Answer:
B
Q: Which of the following statements describes information that may be found in the
Condominium Plan?
A) If any structures were built using post-tension cables
B) The description of the boundaries of the units
C) The number of the condominium corporation
D) All this information may be found in the Condominium Plan
Answer:
D
Q: Which of the following statements is correct regarding how soon a Reserve Fund Study
must be completed for a new condominium?
A) 2 years<\/p>\n\n\n\n
RECA Fundamentals Exam| Questions and
Verified Answers|100% Correct| 2023\/ 2024
Q: What\u2019s includes in written service agreements?
Answer:<\/p>\n\n\n\n
Q: Designated Agency vs Common law
Answer:
Designated Agency<\/p>\n\n\n\n
Answer:<\/p>\n\n\n\n
RECA Residential Exam| Study Guide with
Verified and Detailed Answers|100% Correct|
2023\/ 2024
Q: Cement block?
Answer:
Poured concrete, cement, gravel aggregate and sand. Fills blocks that are hollow but filled with
mortar and reinforced with rebar.
Q: Preserved wood?
Answer:
Load bearing walls built with treated lumber and sheathed with treated plywood.
-Wood used is treated with preservative chemicals to prevent decay and layered with mortar.
-Requires certification before usage.
Q: Damp proofing?
Answer:
Asphalt-based film or coating applied to below grade exterior of foundation walls during
construction process.
-Reduces passage of water vapor into foundation walls
Q: Waterproofing?
Answer:
Seamless membrane or spray is applied to exterior of foundation walls. Alternatively, compound
can be added to concrete foundation mixture.
-Prevents water vapor and liquid water from penetrating foundation walls.<\/p>\n\n\n\n
Q: Subsurface drainage: Drain tiles?
Answer:
Perforated piping surrounded by aggregate rock, placed along foundation footings or beneath
concrete slab.
-AKA weeping tile, directs water to municipal storm sewer system or to sump pit containing
sump pump.
Q: Subsurface drainage: Sump pump?
Answer:
Lined hole of shaft, two feet in diameter. Draws water away from foundation and redirects it to
municipal storm water system or rock pit (rural).
-Located in sump pit, located in foundation floor.
Q: Flat ceiling?
Answer:
Installing drywall to underside of the floor above or underside of roof structure.
-Common residential construction
Q: Sloped ceiling?
Answer:
Make a residence appear more open and spacious, allow natural light into residence.
-Popular but less common than flat ceilings.
Q: Vaulted ceilings?
Answer:<\/p>\n\n\n\n
Attached directly to roof trusses and have two unequal sloping sides that meet at a high point in
the room.
Q: Surface drainage systems?
Answer:
Roofs gutters, downspouts, extensions(connected and kept clear)
-Overall slope of lot facilitates water movement away from building
Q: Back-to-front grading?
Answer:
Back of lot = high point.
-Ground surrounding building is elevated to allow water to flow back around towards front of
lot.
Q: Front-to-back grading?
Answer:
Front of lot = high point.
-Ground is built-up around building, water drains forward before moving around to back of lot.
Q: Split grading?
Answer:
Building = high point
-Used on relatively flat lots, allows water to flow to the back and front edges of the property.
Q: Environmental awareness?<\/p>\n\n\n\n
Answer:
-Consumers developing increased awareness of environmental hazards.
-Property values can be affected by presence of hazards.
-Can affect any type of property.
Q: Underground storage tanks (USTs)?
Answer:
Underground storage of gasoline, diesel, oil and other chemicals.
-Can be hazardous if leaks develop
-Used by Service stations, dealerships, taxi companies, bus, research etc.
Q: 4 types of light pollution?
Answer:
-Urban sky glow
-Light trespass
-Glare
-Light clutter
Q: WHMIS?
Answer:
-National hazard communication system, safe use and storage of controlled products in
workplace.
-Requires labels, material safety data sheets (MSDS), and education\/training.
Q: Titled parking stall?
Answer:
Illustrated as solid, bold lines
-Sold with unit, described in purchase contract.<\/p>\n\n\n\n
RECA Exam| Actual Questions and Verified
Answers|100% Correct| 2023\/ 2024- Grade A
Q: Stan, a real estate professional registered with McAgent Real Estate Bro- kerage has just
listed his commercial property for lease with his brokerage. Jim, another real estate professional
registered with the same brokerage tells Stan that he has a client interested in leasing the
property. What level of disclosure is required in this situation?
A) Disclosure level 1
B) Disclosure level 2
C) Disclosure level 3
D) No disclosure level
Answer:
C
Q: With respect to brokerage record keeping, which of the following state- ments is correct?
Brokerage records must be kept in Alberta
Brokerage records may be maintained in electronic form Brokerage records must be kept by the
brokerage for 3 years Brokerage records must be accessible to RECA for inspection
A) Statements I, II, and III B) Statements I, II, and IV C) Statements I, III, and IV
D) All the statements are correct
Answer:
D
Q: Which of the following is NOT a purpose of RECA?
A) To set and enforce standards of conduct for the industry
B) To administer the Act as provided in the Act
C) To amend the Act as determined by Council
D) To protect against and suppress mortgage fraud
Answer:
C<\/p>\n\n\n\n
Q: Which of the following statements does NOT apply to a duty-based ap- proach to ethical
decision-making?
A) This approach seeks the best result for the most number of people
B) This approach perceives an individual’s intentions or motives as important C) This approach
is based on a belief in a universal moral system of ethical reasoning
D) This approach believes that an individual should do the right thing because it is the right thing
to do
Answer:
A
Q: What is the maximum amount the Real Estate Assurance Fund may pay per claimant for
damages or losses related to the services of a real estate professional?
A) $100,000 maximum B) $35,000 maximum C) $25,000 maximum
D) No maximum amount
Answer:
B
Q: What is the purpose of the Real Estate Assurance Fund?
A) To compensate a real estate brokerage for the loss of commissions related to unsuccessful
trades
B) To compensate sellers when potential buyers fail to obtain the required mortgage financing to
purchase the property
C) To compensate consumers who have received a court judgment against a
real estate professional for fraud or breach of trust
D) To compensate property owners in the event that foreclosure proceedings are commenced
during a real estate transaction
Answer:
C
Q: Which of the following statements describe civil liability? Private legal action between the
disputing parties<\/p>\n\n\n\n
Public legal action between the government and the accused party
Involves a plaintiff and a defendant appearing in court
Established by the courts at the conclusion of legal proceedings
A) Statements I, II and III B) Statements I, III and IV C) Statements II, III and IV D) All
statements apply
Answer:
B
Q: Which of the following statements include actions that may be considered suspicious by a
real estate brokerage?
A buyer purchases a property without first viewing it
A buyer purchases a property in the name of another person
A buyer uses cash to purchase a property
A buyer is slow to confirm their identity
A) Statements I, II, and III B) Statements II, III and IV C) Statements I, III and IV D) All
statements apply
Answer:
A
Q: Which of the following statements are correct regarding real estate broker- ages and privacy
law?
All brokerages within Alberta must comply with federal privacy legislation Brokerages must
designate a Privacy Officer to be accountable for compliance Brokerages with privacy policies
are not required to designate a Privacy Officer
Brokerage privacy policies must be consistent with the applicable privacy legislation
A) Statements I and II B) Statements II and III C) Statements II and IV D) Statements III and IV
Next Question
Answer:
C
Q: Which of the following terms relates to the right of individuals to have control over their
personal information?
A) Privacy<\/p>\n","protected":false},"excerpt":{"rendered":"
RECA Exam| Questions and VerifiedAnswers|100% Correct| 2023\/ 2024Q: Which of the following best describes a written acknowledgement?Answer:It should state that the consumer received and understands the written disclosure made by a realestate professionalQ: Which of the following types of authority allow an agent to act according to the usual waysof performing an action as established […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-119661","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/119661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=119661"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/119661\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=119661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=119661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=119661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}