1 |Page
RECA RESIDENTIAL EXAM 2026 WITH
QUESTIONS AND ANSWERS
Fiduciary Representation - correct answer-- Trust and confidence
- Best interests
- Loyalty
5 Ds of Role Clarity - correct answer-1. Discuss
2. Determine
3. Document
4. Disclose
5. Do
Must disclose in writing - correct answer-- the nature of services provided
- whether professional has entered into representation relationship with
other party
- any conflicts of interest
- any other facts that may influence consumers decision to proceed with
relationship
made to clarify and provide proof of undertanding in event issues or
disputes arise
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Written Service Agreement vs Customer Acknowledgement Forms - correct
answer-Written Service Agreement
- when consumer chooses a representation relationship
- becomes a client
- provide signed copy to brokerage
Customer Acknowledge forms
- non-representation relationship
- becomes a customer
- provide signed copy to brokerage
PIPEDA - correct answer-- Federal legislation
PIPA - correct answer-Alberta's legislation, how private organizations use
and disclose personal information.
Power of Attorney - correct answer-a legal document authorizing someone
to act on your behalf
- must be 18
- POA must be written, dated and signed by both donor and witness
- donor must be mentally capable or contract is void
- only effective as long as donor is alive, will takes effect once death
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Types of POA - correct answer-General POA
- has no limits on powers of the attorney
- can make all decisions regarding financial and legal affairs
- exception where the donor resides and health care
Special POA
- make certain decisions
- also called limited POA
- may grant authority to oversee sale, deals with land
- must be registered on Certificate of Title
Immediate POA
- takes effect as soon as POA is signed, dated and witnessed
- terminates upon loss of mental capacity or death
Enduring POA
- immediately upon being signed, dated and witnessed
- continues if donor becomes incapable, mentally incapacitated
- must include statement whether it takes effect immediately and
continues...
Judicial Sale - correct answer-Court ordered sale usually as a way to
resolve legal matters
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- primary debt recovery method for default mortgages
Foreclosure - correct answer-legal action supervised by the court following
a default on the mortgage.
-transfers the real property from the borrower to the lender and erases
interests on title.
Alberta Building Code - correct answer-Legislation that establishes
technical specifications for new building construction and construction
materials
Building Permit - correct answer-typically valid for one year during which
construction process must be initiated
Factory Built Construction - correct answer-Manufactured
- three sections that are 95% complete when they leave the factory.
- secure the sections to the foundation and join together
- can often move in the same day or within days
- saves time and mony
Modular Construction
- manufacturing three dimensional units, 85 percent complete when they
leave
RECA RESIDENTIAL EXAM 2026 WITH
QUESTIONS AND ANSWERS
Fiduciary Representation - correct answer-- Trust and confidence
- Best interests
- Loyalty
5 Ds of Role Clarity - correct answer-1. Discuss
2. Determine
3. Document
4. Disclose
5. Do
Must disclose in writing - correct answer-- the nature of services provided
- whether professional has entered into representation relationship with
other party
- any conflicts of interest
- any other facts that may influence consumers decision to proceed with
relationship
made to clarify and provide proof of undertanding in event issues or
disputes arise
,2 |Page
Written Service Agreement vs Customer Acknowledgement Forms - correct
answer-Written Service Agreement
- when consumer chooses a representation relationship
- becomes a client
- provide signed copy to brokerage
Customer Acknowledge forms
- non-representation relationship
- becomes a customer
- provide signed copy to brokerage
PIPEDA - correct answer-- Federal legislation
PIPA - correct answer-Alberta's legislation, how private organizations use
and disclose personal information.
Power of Attorney - correct answer-a legal document authorizing someone
to act on your behalf
- must be 18
- POA must be written, dated and signed by both donor and witness
- donor must be mentally capable or contract is void
- only effective as long as donor is alive, will takes effect once death
,3 |Page
Types of POA - correct answer-General POA
- has no limits on powers of the attorney
- can make all decisions regarding financial and legal affairs
- exception where the donor resides and health care
Special POA
- make certain decisions
- also called limited POA
- may grant authority to oversee sale, deals with land
- must be registered on Certificate of Title
Immediate POA
- takes effect as soon as POA is signed, dated and witnessed
- terminates upon loss of mental capacity or death
Enduring POA
- immediately upon being signed, dated and witnessed
- continues if donor becomes incapable, mentally incapacitated
- must include statement whether it takes effect immediately and
continues...
Judicial Sale - correct answer-Court ordered sale usually as a way to
resolve legal matters
, 4 |Page
- primary debt recovery method for default mortgages
Foreclosure - correct answer-legal action supervised by the court following
a default on the mortgage.
-transfers the real property from the borrower to the lender and erases
interests on title.
Alberta Building Code - correct answer-Legislation that establishes
technical specifications for new building construction and construction
materials
Building Permit - correct answer-typically valid for one year during which
construction process must be initiated
Factory Built Construction - correct answer-Manufactured
- three sections that are 95% complete when they leave the factory.
- secure the sections to the foundation and join together
- can often move in the same day or within days
- saves time and mony
Modular Construction
- manufacturing three dimensional units, 85 percent complete when they
leave
