RECA ALBERTA FUNDAMENTALS EXAM 2026
AND 2027 MASTER GUIDE FULL QUESTIONS
WITH 100% VERIFIED CORRECT ANSWERS.
◎ Mandate. ANSWER:- RECA is mandated by the Real Estate Act to protect
consumers, promote industry integrity, and combat mortgage fraud by setting and
enforcing standards of conduct, providing services to enhance the industry, and
administering the Act, Regulations, and Bylaws.
◎ Mission. ANSWER:- RECA focuses on building consumer trust by setting standards
of conduct, providing services to enhance the industry, promoting industry integrity, and
combating mortgage fraud.
◎ Values & Principles. ANSWER:- Includes accountability of licensees, focus on public
interest, principles-based approach, 'Right Touch' Compliance and Enforcement,
Professional Support Services, Procedural Fairness, Quality Education, and
Professional Development.
◎ Council. ANSWER:- The Board of Directors of the Council oversees RECA's
activities, sets strategic direction, protects consumers, and delegates authority to the
Executive Director.
◎ Board Responsibilities. ANSWER:- Includes setting strategic direction, protecting
against fraud, providing services for licensees, managing information publication,
administering hearings, and overseeing the Real Estate Assurance Fund.
◎ Industry Councils. ANSWER:- There are 4 Industry Councils responsible for setting
and enforcing standards of conduct, administering the Real Estate Act, Regulations,
Bylaws, Rules, and licensing industry members.
◎ Industry Standards of Practice. ANSWER:- RECA sets standards of conduct for
licensees to promote industry integrity, consumer confidence, and trust.
◎ Education and Competent Practice for Professionals. ANSWER:- RECA emphasizes
the importance of continuous education and competence in practice for licensees to
provide quality services to the public.
◎ Principles of Professional Conduct. ANSWER:- Includes principles such as active
engagement in education, honesty, integrity, respectfulness, and continuous
improvement for professionalism.
, ◎ Spatial Information System (Spin 2). ANSWER:- NOT a RECA educational resource
for industry professionals.
◎ Alberta Land Surveyor. ANSWER:- Responsible for producing the 'Real Property
Report.'
◎ Four Factors of Production. ANSWER:- Land, Labour, Capital, Entrepreneurship.
◎ Executive Director. ANSWER:- Has the power to suspend/revoke a license.
◎ Written Service Agreements. ANSWER:- Include services provided by the brokerage,
responsibilities of each party, and names of the parties.
◎ Length of Valid License. ANSWER:- 36 months if not registered with a brokerage.
◎ Level of Disclosure: Other party represented by the brokerage. ANSWER:- Level 1.
◎ Level of Disclosure: Other party not represented. ANSWER:- Level 2.
◎ Level of Disclosure: Other party represented by the same brokerage. ANSWER:-
Level 3.
◎ Inducements vs Incentives. ANSWER:- Inducement is client-specific, Incentive is
offered by the brokerage to any potential client.
◎ Records. ANSWER:- Must be kept.
◎ Real Estate Insurance Exchange (REIX). ANSWER:- Provides financial protection,
compensates consumers up to $35,000, mandatory errors & omissions insurance +
negligence, excludes injuries or death, transfers of title, commission/fees, $3,500 is the
first deductible, $7,000 if second claim, RECA collects premiums with licensing fees
◎ Tort Law. ANSWER:- Compensation for civil wrongs that result in harm Negligent
Tort
◎ Ethical Decision Making. ANSWER:- (Recognize, Analyze, Test, Seek assistance if
needed, Implement) Duty based approach to ethical decision making Individuals
intentions or motives, belief in universal moral system of ethical reasoning, individuals
should do the right thing because its the right thing to do
◎ Errors and Omission Insurance. ANSWER:- Real estate equivalent of malpractice
coverage
AND 2027 MASTER GUIDE FULL QUESTIONS
WITH 100% VERIFIED CORRECT ANSWERS.
◎ Mandate. ANSWER:- RECA is mandated by the Real Estate Act to protect
consumers, promote industry integrity, and combat mortgage fraud by setting and
enforcing standards of conduct, providing services to enhance the industry, and
administering the Act, Regulations, and Bylaws.
◎ Mission. ANSWER:- RECA focuses on building consumer trust by setting standards
of conduct, providing services to enhance the industry, promoting industry integrity, and
combating mortgage fraud.
◎ Values & Principles. ANSWER:- Includes accountability of licensees, focus on public
interest, principles-based approach, 'Right Touch' Compliance and Enforcement,
Professional Support Services, Procedural Fairness, Quality Education, and
Professional Development.
◎ Council. ANSWER:- The Board of Directors of the Council oversees RECA's
activities, sets strategic direction, protects consumers, and delegates authority to the
Executive Director.
◎ Board Responsibilities. ANSWER:- Includes setting strategic direction, protecting
against fraud, providing services for licensees, managing information publication,
administering hearings, and overseeing the Real Estate Assurance Fund.
◎ Industry Councils. ANSWER:- There are 4 Industry Councils responsible for setting
and enforcing standards of conduct, administering the Real Estate Act, Regulations,
Bylaws, Rules, and licensing industry members.
◎ Industry Standards of Practice. ANSWER:- RECA sets standards of conduct for
licensees to promote industry integrity, consumer confidence, and trust.
◎ Education and Competent Practice for Professionals. ANSWER:- RECA emphasizes
the importance of continuous education and competence in practice for licensees to
provide quality services to the public.
◎ Principles of Professional Conduct. ANSWER:- Includes principles such as active
engagement in education, honesty, integrity, respectfulness, and continuous
improvement for professionalism.
, ◎ Spatial Information System (Spin 2). ANSWER:- NOT a RECA educational resource
for industry professionals.
◎ Alberta Land Surveyor. ANSWER:- Responsible for producing the 'Real Property
Report.'
◎ Four Factors of Production. ANSWER:- Land, Labour, Capital, Entrepreneurship.
◎ Executive Director. ANSWER:- Has the power to suspend/revoke a license.
◎ Written Service Agreements. ANSWER:- Include services provided by the brokerage,
responsibilities of each party, and names of the parties.
◎ Length of Valid License. ANSWER:- 36 months if not registered with a brokerage.
◎ Level of Disclosure: Other party represented by the brokerage. ANSWER:- Level 1.
◎ Level of Disclosure: Other party not represented. ANSWER:- Level 2.
◎ Level of Disclosure: Other party represented by the same brokerage. ANSWER:-
Level 3.
◎ Inducements vs Incentives. ANSWER:- Inducement is client-specific, Incentive is
offered by the brokerage to any potential client.
◎ Records. ANSWER:- Must be kept.
◎ Real Estate Insurance Exchange (REIX). ANSWER:- Provides financial protection,
compensates consumers up to $35,000, mandatory errors & omissions insurance +
negligence, excludes injuries or death, transfers of title, commission/fees, $3,500 is the
first deductible, $7,000 if second claim, RECA collects premiums with licensing fees
◎ Tort Law. ANSWER:- Compensation for civil wrongs that result in harm Negligent
Tort
◎ Ethical Decision Making. ANSWER:- (Recognize, Analyze, Test, Seek assistance if
needed, Implement) Duty based approach to ethical decision making Individuals
intentions or motives, belief in universal moral system of ethical reasoning, individuals
should do the right thing because its the right thing to do
◎ Errors and Omission Insurance. ANSWER:- Real estate equivalent of malpractice
coverage
