RECA PROPERTY MANAGEMENT REAL ESTATE COUNCIL OF ALBERTA EXAM COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+

Which of the following may RECA amend from time to time? A) The Act B) The Rules C) The Regulations D) All the statements are correct - ANSWER B According to the Act, which of the following statements apply if an industry professional whose conduct is subject to disciplinary proceedings make application to withdraw from the profession? A) If the application is approved, RECA issues a news release B) If the application is approved, all disciplinary proceedings are terminated C) If the application is approved, it is a lifetime ban from all industry professions governed by RECA D) All the statements are correct - ANSWER D According to the Rules, which of the following statements is correct regarding written service agreements? A) Written service agreements must clearly indicate the names of all parties to the agreement B) All industry professionals are required to have written service agreements in place with all clients C) If a client refuses to sign a written service agreement, the industry professional must refuse services to that client D) All the statements are correct - ANSWER A A real estate professional's authorization to trade in real estate expired on September 30. However, the real estate professional continued to show properties on behalf of a property management company for which she received compensation. Given her actions breached a section of the Rules and were deemed to be potentially serious, which of the following disciplinary outcomes would the real estate professional receive? A) Consent Agreement B) Letter of Reprimand C) Temporary Suspension D) Administrative Penalty - ANSWER D Which privacy legislation affects how Alberta real estate professionals handle client information? Privacy Information Act Right to Personal Privacy Act Personal Information Protection Act Personal Information Protection and Electronic Documents Act A) Statements I and II B) Statements I and IV C) Statements II and III D) Statements III and IV - ANSWER D When the licence of a real estate brokerage is suspended, what actions must real estate professionals who are registered with the brokerage take? A) They must cease to trade in real estate B) They must cancel their authorization with RECA C) They must apply for withdrawal from the profession D) They must become registered with another brokerage - ANSWER A Which of the following Professional Conduct Review outcomes is issued as a practice guideline for a technical breach of the legislation? A) Advisory Note B) Production Order C) Letter of Reprimand D) Administrative Penalty - ANSWER A Mary, a real estate professional registered with ABC Real Estate Brokerage, has agreed to purchase her neighbour's ranch. The seller of the property is not represented by a real estate professional. What level of disclosure does Mary need to provide? A) Disclosure level 1 B) Disclosure level 2 C) Disclosure level 3 D) No disclosure level - ANSWER B Pursuant to the Rules, which of the following is a result of an industry professional's failure to immediately notify the Executive Director of changes to information provided in support of a licence application? A) Executive Director may refer the matter for a Professional Conduct Review B) Executive Director may suspend the industry professional's licence C) Executive Director may cancel the industry professional's licence D) All the statements are correct - ANSWER D Stan, a real estate professional registered with McAgent Real Estate Brokerage has just listed his commercial property for lease with his brokerage. Jim, another real estate professional registered with the same brokerage tells Stan that he has a client interested in leasing the property. What level of disclosure is required in this situation? A) Disclosure level 1 B) Disclosure level 2 C) Disclosure level 3 D) No disclosure level - ANSWER C