RECA Exam Study | QUESTIONS AND ANSWERS | LATEST 2024/25

RECA Exam Study | QUESTIONS AND ANSWERS | LATEST 20242/5 Disclosure IIlevel II1 II- II II II IICarl, IIa IIreal IIestate IIprofessional, IIis IIregistered IIwith IIPrime IIPlus IIReal IIEstate IILtd. IIHe IIhas IIlisted IIhis IIbrother's IIhouse IIfor IIsale IIwith IIthe IIbrokerage. IIA IIreal IIestate IIprofessional IIwith IIanother IIbrokerage IIcontacts IICarl IIand IIasks IIto IIpreview IIthe IIproperty IIas IIshe IIhas IIa IIpotential IIbuyer. IIWhat IIlevel IIof IIdisclosure IImust IICarl IIprovide? Others IItell IIyou IIthat IIyou IIhave IIan IIethical IIdilemma II- II II II IIWhen IIevaluating IIan IIethical IIdilemma, IIthe IIfirst IIstep IIis IIawareness. IIAn IIindividual IImay IIbecome IIaware IIof IIan IIethical IIdilemma IIthrough IIa IIvariety IIof IIways. IIWhich IIone IIof IIthe IIfollowing IIis IItypically IINOT IIone IIof IIthe IIways? It IIcontinues IIwithout IIa IItime IIlimit IIafter IIreal IIestate IIservices IIare IIno IIlonger IIprovided II- II II II IIWhich IIof IIthe IIfollowing IIstatements IIis IIcorrect IIregarding IIthe IIlength IIof IItime IIthat IIreal IIestate IIprofessiona ls IIare IIobligated IIto IIkeep IIclient IIinformation IIconfidential? Any IIinstruction IIthat IIis IIreasonable IIand IIordinary IIunder IIthe IIcircumstances II- II II II IIWhich IIof IIthe IIfollowing IIdescribes IIwhat IIis IImeant IIby IIa IIlawful IIinstruction? Express IIAuthority II- II II II IIWhich IIof IIthe IIfollowing IItypes IIof IIauthority IIinvolve IIdescribing II(orally IIor IIin IIwriting) IIthe IIactions IIthat IImay IIbe IItaken IIby IIan IIagent IIon IIbehalf IIof IIa IIprincipal? Third IIParty II- II II II IIWhich IIof IIthe IIfollowing IIdescribes IIthe IIparty IIthat IIexists IIoutside IIof IIa IIrepresentation IIrelationship? Functional IIAuthority II- II II II IIWhich IIof IIthe IIfollowing IIis IINOT IIa IItype IIof IIauthority IIan IIagent IImay IIhold? Real IIEstate IIBrokerages II- II II II IIWhich IIof IIthe IIfollowing IIare IIthe IIonly IIentities IIauthorized IIto IItrade IIin IIreal IIestate? Property IIManagement IIServices II- II II II IIWhich IIof IIthe IIfollowing IIcateg ories IIof IIbrokerage IIservices IIinvolves IInumerous IIservices IIthat IIrequire IIthe IIgreatest IIlevel IIof IIdiscretion IIor IIjudgement? Consideration IIalways IIinvolves IImoney II- II II II IIWhich IIof IIthe IIfollowing IIdoes IINOT IIapply IIto IIconsideration? Conditions IImust IIbe IIwaived IIfor IIthe IIcontract IIto IIproceed, IIwhile IIa IIcontract IIcan IIstill IIproceed IIwith IIunmet IIterms II- II II II IIWhat IIis IIthe IIdifference IIbetween IIa IIcondition IIand IIa IIterm IIin IIa IIcontract? The IIcontract IImust IIbe IIin IIwritten IIform IIto IIbe IIenforceable II- II II II IIWhich IIof IIthe IIfollowing IIis IINOT IIan IIessential IIelement IIof IIa IIcontract? The IIcontract IImay IIbe IIvoidable II- II II II IIThe IIOgami's IIhave IIjust IIcompleted IItheir IIfirst IIEnglish IIlanguage IIcourse. IIThey IIwant IIto IIstart IIa IIfamily IIbusiness IIand IItake IIout IIa IImortgage IIon IItheir IIsmall IItownhouse IIto IIget IIfunds IIfor IIthe IIbusiness. IIHowever IIthe IIbusiness IIfails IIand IIthey IImust IIrepay IIthe IImortgage. IISince IIthe IIOgami's IIstruggle IIwith IIEnglish, IIthey IIdid IInot IIunderstand IIthe IImortgage IIcontract. IIIf IIthey IIchallenge IIthe IIcontract, IIwhat IIterm IIdescribes IIthe IIpossible IIresult? Pricing II- II II II IIWhich IIof IIthe IIfollowing IIis IINOT IIcharacteristic IIof IIvalue IIin IIrelation IIto IIa IIcommodity? Which IIof IIthe IIfollowing IIProfessional IIConduct IIReview IIoutcomes IIis IIissued IIas IIa IIpractice IIguideline IIfor IIa IItechnical IIbreach IIof IIthe IIlegislation? II- II II II IIAdvisory IINote Which IIof IIthe IIfollowing IIstatements IIis IIcorrect IIregarding IIthe IIReal IIEstate IIAct IIRules? The IIRules IImay IIonly IIbe IIamended IIby IIthe IIprovincial IIlegislature RECA IIposts IIthe IImost IIcurrent IIversion IIof IIthe IIRules IIon IIits IIwebsite The IIRules IIrefer IIto IIthe IIstandards IIof IIpractice IIfor IIindustry IIprofessionals When IIcontemplating IIamendments IIto IIthe IIRules, IIRECA IIconsults IIwith IIindustry IIprofessionals IIand IIstakeholders II- II II II IIB) IIStatements IIII, IIIII IIand IIIV Which IIof IIthe IIfollowing IIis IINOT IIa IItype IIof IIreaction IIassociated IIwith IIconflicts IIor IIdisputes? II- II II II IISocial IIReaction Which IIof IIthe IIfollowing IIis IIthe IIprovincial IIprivacy IIlegislation IIin IIAlberta? II- II II II IIPersonal IIInformation IIProtection IIAct In IIterms IIof IIthe IIbrokerage, IIwhat IIare IIthe II3 IIcomponents IIof IIleadership IIthat IIrelate IIto IIthe IIbroker? II- II II II IIAuthority, IIresponsibility IIand IIaccountability Which IIof IIthe IIfollowing IIbest IIdescribes IIa IIwritten IIacknowledgement? II- II II II IIIt IIshould IIstate IIthat IIthe IIconsumer IIreceived IIand IIunderstands IIthe IIwritten IIdisclosure IImade IIby IIa IIreal IIestate IIprofessional Which IIof IIthe IIfollowing IItypes IIof IIauthority IIallow IIan IIagent IIto IIact IIaccording IIto IIthe IIusual IIways IIof IIperforming IIan IIaction IIas IIestablished IIby IIthe IIprofession? II- II II II IICustomary IIauthority Which IIof IIthe IIfollowing IIresponsibilities IIdo IIreal IIestate IIprofessionals IIowe IIcustomers? II- II II II IIOnly IIsome IIgeneral IIobligations If IIa IIreal IIestate IIprofessional IIcannot IIprovide IIcompetent IIservice IIto IIa IIclient, IIwhich IIof IIthe IIfollowing IIstatements IIdescribe IIactions IIthat IIthe IIreal IIestate IIprofessional IIshould IItake?