RECA CORRECT STUDYS LATEST QUESTIONS AND
ANSWERS SURE A+
✔✔I, II, & III - ✔✔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
✔✔B) It occurs when either the principal or agent fails to fulfil their responsibilities to the
other party who terminates the representation relationship as a result - ✔✔Which of the
following describes a lawful revocation?
✔✔Statements I, II, and IV - ✔✔Which of the following statements is a benefit of
designated agency?
It is consistent with consumer expectations
The brokerage can represent more consumers
It allows the broker to advocate for clients to the trade
The brokerage can resolve more conflicts ofinterest
✔✔The injured party must actually have suffered damages as a result of the breach of
contract - ✔✔Which of the following statements is correct regarding breach of contract?
✔✔If 2 individuals own a property, they both have an equal interest in the property as a
whole - ✔✔Which statement is correct if a property is held in joint tenancy?
✔✔Statements I, II, and III - ✔✔When owners rent or lease their units, which of the
following may be required of the owners by the condominium corporation?
Names of the tenants and the amount of the rent they will pay
Address of service and a deposit equal to one month's rent
Dates for the start and end of the rental/lease agreement
, Permission from the condominium corporation to rent/lease the unit
✔✔Principle of Change - ✔✔Which Principle of Value identifies how economic, social,
and political factors effect property values?
✔✔An increase in the quantity supplied - ✔✔Which of the following will occur to the
supply of a good when there is a change in quantity supplied due to a price increase?
✔✔The Rules - ✔✔Which of the following may RECA amend from time to time?
✔✔To protect real estate professionals when they make a mistake regarding their
business activities - ✔✔What statement best describes why real estate professionals
have errors and omissions insurance?
✔✔As negotiators - ✔✔Brokers who use the VBRP typically have experience in which
of the following roles?
✔✔Both clients provide their informed consent - ✔✔Transaction brokerage may only
proceed if which of the following occurs?
✔✔Conditions precedent - ✔✔Which of the following are the types of conditions used in
Alberta for real estate purchase contracts?
✔✔Quantum meruit, specific performance, injunction - ✔✔What are some of the
remedies for breach of contract?
✔✔The land use conforms with the permitted use for that classification - ✔✔Under Land
Use Bylaws, what is meant by a 'permitted use'?
✔✔The Mirror Principle - ✔✔Under the Torrens System, which principle ensures that
the current Certificate of Title accurately shows the current facts about the property?
✔✔Principle of Surplus Productivity - ✔✔Which Principle of Value is represented by the
following formula: Net income - operation expenses
✔✔Statements II, III and IV - ✔✔What are the objectives of RECA's Professional
Conduct Review procedures?
To sanction industry professionals
To gather all the relevant information
To treat parties fairly and courteously
To gather the information efficiently
✔✔Personal trades involving real estate professionals - ✔✔Which of the following
activities is excluded from coverage under the REIX policy?
ANSWERS SURE A+
✔✔I, II, & III - ✔✔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
✔✔B) It occurs when either the principal or agent fails to fulfil their responsibilities to the
other party who terminates the representation relationship as a result - ✔✔Which of the
following describes a lawful revocation?
✔✔Statements I, II, and IV - ✔✔Which of the following statements is a benefit of
designated agency?
It is consistent with consumer expectations
The brokerage can represent more consumers
It allows the broker to advocate for clients to the trade
The brokerage can resolve more conflicts ofinterest
✔✔The injured party must actually have suffered damages as a result of the breach of
contract - ✔✔Which of the following statements is correct regarding breach of contract?
✔✔If 2 individuals own a property, they both have an equal interest in the property as a
whole - ✔✔Which statement is correct if a property is held in joint tenancy?
✔✔Statements I, II, and III - ✔✔When owners rent or lease their units, which of the
following may be required of the owners by the condominium corporation?
Names of the tenants and the amount of the rent they will pay
Address of service and a deposit equal to one month's rent
Dates for the start and end of the rental/lease agreement
, Permission from the condominium corporation to rent/lease the unit
✔✔Principle of Change - ✔✔Which Principle of Value identifies how economic, social,
and political factors effect property values?
✔✔An increase in the quantity supplied - ✔✔Which of the following will occur to the
supply of a good when there is a change in quantity supplied due to a price increase?
✔✔The Rules - ✔✔Which of the following may RECA amend from time to time?
✔✔To protect real estate professionals when they make a mistake regarding their
business activities - ✔✔What statement best describes why real estate professionals
have errors and omissions insurance?
✔✔As negotiators - ✔✔Brokers who use the VBRP typically have experience in which
of the following roles?
✔✔Both clients provide their informed consent - ✔✔Transaction brokerage may only
proceed if which of the following occurs?
✔✔Conditions precedent - ✔✔Which of the following are the types of conditions used in
Alberta for real estate purchase contracts?
✔✔Quantum meruit, specific performance, injunction - ✔✔What are some of the
remedies for breach of contract?
✔✔The land use conforms with the permitted use for that classification - ✔✔Under Land
Use Bylaws, what is meant by a 'permitted use'?
✔✔The Mirror Principle - ✔✔Under the Torrens System, which principle ensures that
the current Certificate of Title accurately shows the current facts about the property?
✔✔Principle of Surplus Productivity - ✔✔Which Principle of Value is represented by the
following formula: Net income - operation expenses
✔✔Statements II, III and IV - ✔✔What are the objectives of RECA's Professional
Conduct Review procedures?
To sanction industry professionals
To gather all the relevant information
To treat parties fairly and courteously
To gather the information efficiently
✔✔Personal trades involving real estate professionals - ✔✔Which of the following
activities is excluded from coverage under the REIX policy?
