RECA FUNDAMENTALS ALBERTA EXAM
MASTERY 2026 AND 2027 COMPLETE
QUESTIONS AND ANSWERS 100% CORRECT
EDITION.
◎ Real estate License. ANSWER:- One who has met requirements of law + permitted
to perform services for others related to R/E transactions.
◎ Real estate professional's 3 areas of expertise. ANSWER:- Valuation, Marketing; and
property Transfer.
◎ Specialization. ANSWER:- Residential sales- Licensees may concentrate on one
type or style or on one particular neighboorhood or area ; this is FARMING. -
Commercial sales; Industrial sales; Agricultural sales and Business Brokerage-The
value of a business is called Growing concern value.
◎ Real estate license law. ANSWER:- First FL law 1923
First FREC 1925
Real estate license law is FS.475
Division of Real estate (DRE) was created within the Department of regulation in 1982
Part 1 of F.S 475=Licensure and regulation of real estate licensees; Part 2(administered
by the FL board estate APPRAISAL Board)= Registration licensure and certification of
APPRAISERS in federally related transactions.
◎ Purpose of the law. ANSWER:- .To protect the public
Department of business and professional regulation (DBPR) is a consumer protection
agency.
◎ Post -License education. ANSWER:- ALL sales associates (including Attorneys),
Whether Active or Inactive MUST complete a 45 hr-post-license education(PLE) course
Prior to expiration of their initial license .
-Individuals With a 4-yr degree in real estate are exempt.
-Failure to complete PLE will cause licenense to become VOID!
-To continue to practice , individual will need to re-take the 63 hr pre-license course
again and PASS another state exam.
◎ Obtaining FL brokerage license law. ANSWER:- -A sales associate that wish to
become licensed of a broker must complete the required pre-license education course
specified by the FREC.
-Course is 72 hrs- and includes a final exam of 100 questions need a 70 to PASS!
, ◎ Brokers license. ANSWER:- -Applicants for a Broker's license may choose to
continue employment in a SALES ASSOCIATE capacity subsequent to passing the
State Exam- If so the Broker applicant will be registered as a Broker Associate after
passing the state exam.
-When inactive , the broker is issued an Inactive broker's license.
◎ Brokers POST -LICENSE EDUCATION. ANSWER:- -All Broker's (Active & Inactive)
Must complete 60hrs of PLE during initial period as a broker
-Failure=License is VOID
-Mutual Recognition applicants are exempt from PLE ONLY if NON-RESIDENTS -Upon
passage of class exam, licensees receives certificate
◎ Continuing Education. ANSWER:- - 14-HRS of FREC approved(CE) must be
completed prior to each license renewal(Every 2 years)
◎ Mutual Recognition. ANSWER:- FL does NOT have reciprocity with any other state
-FL has contractual arrangements with a limited number of states recognizing similarity
in requirements for licensing =Mutual recognition of licenses
-NON-RESIDENTIAL licensees residing in a (MR) STATE licensed for >2 yrs may apply
to take a 40 question test (law)/ 30 + pass. NO PRE-LICENSE required.
◎ Statutory Service of real estate. ANSWER:- F.S 475 prescribes when a license is
required and services that maybe performed.
◎ Persons required to be Licensed. ANSWER:- Unless exempt , when a person
performs a service of real estate in FL; for another ; and for compensation .
Compensation is ANYTHING other than a thank you.
◎ Statutory Services (non-comprehensive list). ANSWER:- -Appraising
-Auctioning
-Business Brokerage
-Property Management
-Advertising Real Estate
-Renting
-Time share unit sales
◎ EXEMPTIONS (non-comprehensive list). ANSWER:- -Attorneys in fact-Authorized for
another under a power of attorney
-Attorneys at law-Giving legal advice, Not getting commission on sales etc.
-Court Appointees-For SALARY only NOT commission, includes trustees, receivers,
masters in chancery, court-appointed appraisers, etc
-Salaried Employees- of an owner or broker for an owner of an Apartment Community
working in an on-site real estate office in a LEASING CAPACITY.
-Note; Tenants may receive up to $50(cash,rent, credit, etc) as a referral fee
-Individuals -when dealing for themselves
MASTERY 2026 AND 2027 COMPLETE
QUESTIONS AND ANSWERS 100% CORRECT
EDITION.
◎ Real estate License. ANSWER:- One who has met requirements of law + permitted
to perform services for others related to R/E transactions.
◎ Real estate professional's 3 areas of expertise. ANSWER:- Valuation, Marketing; and
property Transfer.
◎ Specialization. ANSWER:- Residential sales- Licensees may concentrate on one
type or style or on one particular neighboorhood or area ; this is FARMING. -
Commercial sales; Industrial sales; Agricultural sales and Business Brokerage-The
value of a business is called Growing concern value.
◎ Real estate license law. ANSWER:- First FL law 1923
First FREC 1925
Real estate license law is FS.475
Division of Real estate (DRE) was created within the Department of regulation in 1982
Part 1 of F.S 475=Licensure and regulation of real estate licensees; Part 2(administered
by the FL board estate APPRAISAL Board)= Registration licensure and certification of
APPRAISERS in federally related transactions.
◎ Purpose of the law. ANSWER:- .To protect the public
Department of business and professional regulation (DBPR) is a consumer protection
agency.
◎ Post -License education. ANSWER:- ALL sales associates (including Attorneys),
Whether Active or Inactive MUST complete a 45 hr-post-license education(PLE) course
Prior to expiration of their initial license .
-Individuals With a 4-yr degree in real estate are exempt.
-Failure to complete PLE will cause licenense to become VOID!
-To continue to practice , individual will need to re-take the 63 hr pre-license course
again and PASS another state exam.
◎ Obtaining FL brokerage license law. ANSWER:- -A sales associate that wish to
become licensed of a broker must complete the required pre-license education course
specified by the FREC.
-Course is 72 hrs- and includes a final exam of 100 questions need a 70 to PASS!
, ◎ Brokers license. ANSWER:- -Applicants for a Broker's license may choose to
continue employment in a SALES ASSOCIATE capacity subsequent to passing the
State Exam- If so the Broker applicant will be registered as a Broker Associate after
passing the state exam.
-When inactive , the broker is issued an Inactive broker's license.
◎ Brokers POST -LICENSE EDUCATION. ANSWER:- -All Broker's (Active & Inactive)
Must complete 60hrs of PLE during initial period as a broker
-Failure=License is VOID
-Mutual Recognition applicants are exempt from PLE ONLY if NON-RESIDENTS -Upon
passage of class exam, licensees receives certificate
◎ Continuing Education. ANSWER:- - 14-HRS of FREC approved(CE) must be
completed prior to each license renewal(Every 2 years)
◎ Mutual Recognition. ANSWER:- FL does NOT have reciprocity with any other state
-FL has contractual arrangements with a limited number of states recognizing similarity
in requirements for licensing =Mutual recognition of licenses
-NON-RESIDENTIAL licensees residing in a (MR) STATE licensed for >2 yrs may apply
to take a 40 question test (law)/ 30 + pass. NO PRE-LICENSE required.
◎ Statutory Service of real estate. ANSWER:- F.S 475 prescribes when a license is
required and services that maybe performed.
◎ Persons required to be Licensed. ANSWER:- Unless exempt , when a person
performs a service of real estate in FL; for another ; and for compensation .
Compensation is ANYTHING other than a thank you.
◎ Statutory Services (non-comprehensive list). ANSWER:- -Appraising
-Auctioning
-Business Brokerage
-Property Management
-Advertising Real Estate
-Renting
-Time share unit sales
◎ EXEMPTIONS (non-comprehensive list). ANSWER:- -Attorneys in fact-Authorized for
another under a power of attorney
-Attorneys at law-Giving legal advice, Not getting commission on sales etc.
-Court Appointees-For SALARY only NOT commission, includes trustees, receivers,
masters in chancery, court-appointed appraisers, etc
-Salaried Employees- of an owner or broker for an owner of an Apartment Community
working in an on-site real estate office in a LEASING CAPACITY.
-Note; Tenants may receive up to $50(cash,rent, credit, etc) as a referral fee
-Individuals -when dealing for themselves
