RECA RESIDENTIAL ACTUAL EXAM
REVIEW TEST PAPER 2026 COMPLETE
QUESTION BANK AND SOLVED ANSWER
KEY
⩥ Brokerage interests. Answer: Interest of brokerage at odds with
brokerage client
⩥ Fiduciary duties. Answer: -Utmost loyalty
-Not to make secret profits
-Maintain confidentiality
-To account
-Avoid and disclose conflicts of interest
⩥ Competing interests. Answer: Interest of brokerage clients compete in
a transaction or potential transaction
⩥ Opposing interests. Answer: Interest of brokerage clients oppose in
the same transaction or potential transaction
⩥ Standard of care. Answer: -Professional standards
-Professional norms/practices
,-Expert testimony
-Benefits of role clarity/consistency
-Meeting regulatory requirements
-Enhances professionalism
-Prevents unintended relationships
-Clarifies responsibilities and services to consumers
-Reduces disputes
⩥ PIPEDA. Answer: Federal - privacy act
⩥ PIPA. Answer: Provincial - Privacy act
⩥ CASL. Answer: Canada's anti spam legislation - federal
⩥ Privacy principles. Answer: -Accountability
-Identifying purposes
-Consent
-Limiting collection
-Limiting use, disclosure, retention
-Accuracy
-Safeguards of data protection
-Openness
,-Individual access
-Challenging compliance
⩥ Seller's confidential info. Answer: -Reason of property sale
-Motivation regarding sale
-Price seller will accept for sale
-Offers received by seller
⩥ Buyer's confidential info. Answer: -Reason for purchase of property
-Motivation to purchase
-Price willing to pay for property
-Offers submitted
⩥ Trustee. Answer: Legally appointed person to hold assets for benefits
of one or more persons. Trust agreements set out terms of trustee's
powers and duties.
⩥ Executors. Answer: Person who receives title of property when owner
of the property is deceased.
⩥ Development permits. Answer: -Used for new subdivisions.
-Authorizes location, size and use of building.
, ⩥ Building permits. Answer: -Used for new residential buildings.
-Valid for one year in which building must proceed.
-ABC establishes technical specifications for new buildings.
⩥ Occupancy permits. Answer: -Used for new residential buildings.
Builder must secure permit before residence is approved for occupation
by purchaser.
⩥ Subsequent building permits. Answer: -Used to change existing
buildings.
-Required for new additions, demo or relocation, Major alterations or
renovation, supplemental structure.
⩥ Concepts of residential construction. Answer: -Technology
-Sustainability
-Accessibility
-Adaptability
⩥ Technology. Answer: -the process of implementing single application
to operate multiple functions of a property
⩥ Sustainability. Answer: -Use and recycling of materials used in
construction
REVIEW TEST PAPER 2026 COMPLETE
QUESTION BANK AND SOLVED ANSWER
KEY
⩥ Brokerage interests. Answer: Interest of brokerage at odds with
brokerage client
⩥ Fiduciary duties. Answer: -Utmost loyalty
-Not to make secret profits
-Maintain confidentiality
-To account
-Avoid and disclose conflicts of interest
⩥ Competing interests. Answer: Interest of brokerage clients compete in
a transaction or potential transaction
⩥ Opposing interests. Answer: Interest of brokerage clients oppose in
the same transaction or potential transaction
⩥ Standard of care. Answer: -Professional standards
-Professional norms/practices
,-Expert testimony
-Benefits of role clarity/consistency
-Meeting regulatory requirements
-Enhances professionalism
-Prevents unintended relationships
-Clarifies responsibilities and services to consumers
-Reduces disputes
⩥ PIPEDA. Answer: Federal - privacy act
⩥ PIPA. Answer: Provincial - Privacy act
⩥ CASL. Answer: Canada's anti spam legislation - federal
⩥ Privacy principles. Answer: -Accountability
-Identifying purposes
-Consent
-Limiting collection
-Limiting use, disclosure, retention
-Accuracy
-Safeguards of data protection
-Openness
,-Individual access
-Challenging compliance
⩥ Seller's confidential info. Answer: -Reason of property sale
-Motivation regarding sale
-Price seller will accept for sale
-Offers received by seller
⩥ Buyer's confidential info. Answer: -Reason for purchase of property
-Motivation to purchase
-Price willing to pay for property
-Offers submitted
⩥ Trustee. Answer: Legally appointed person to hold assets for benefits
of one or more persons. Trust agreements set out terms of trustee's
powers and duties.
⩥ Executors. Answer: Person who receives title of property when owner
of the property is deceased.
⩥ Development permits. Answer: -Used for new subdivisions.
-Authorizes location, size and use of building.
, ⩥ Building permits. Answer: -Used for new residential buildings.
-Valid for one year in which building must proceed.
-ABC establishes technical specifications for new buildings.
⩥ Occupancy permits. Answer: -Used for new residential buildings.
Builder must secure permit before residence is approved for occupation
by purchaser.
⩥ Subsequent building permits. Answer: -Used to change existing
buildings.
-Required for new additions, demo or relocation, Major alterations or
renovation, supplemental structure.
⩥ Concepts of residential construction. Answer: -Technology
-Sustainability
-Accessibility
-Adaptability
⩥ Technology. Answer: -the process of implementing single application
to operate multiple functions of a property
⩥ Sustainability. Answer: -Use and recycling of materials used in
construction
