RECA Fundamentals of Real Estate Exam [100% Correct] 2025 Release

RECA Fundamentals of Real Estate Exam [100% Correct] 2025 Release **Exclusions of REIX** **Ans** REIX excludes certain activities, such as those not involving real estate trades, property title registration, or conveyance. It also does not cover claims related to bodily injury, sickness, emotional or mental disorders, death, slander, property damage or loss, and any dishonest, fraudulent, criminal, or malicious acts. **Personal Information** **Ans** Personal information is any data that can be used to identify a person, including their name or address. **Confidential Information** **Ans** Confidential information refers to details that are intended to remain private and not be shared. **Privacy** **Ans** Privacy allows individuals to control how their personal information is collected, used, and shared. **Privacy Principles** **Ans** Key principles of privacy include accountability, identifying the purpose of data collection, obtaining consent, limiting data collection, ensuring accuracy, controlling data usage and disclosure, implementing safeguards, maintaining openness, and allowing individual access to their information. **Opt-Out Consent** **Ans** Opt-out consent occurs when an organization assumes an individual agrees to a stated purpose unless the individual explicitly objects. **Information Barriers to Protect Clients** 1 **Ans** Measures to protect clients' information include having clear policies and procedures, securing f iles, maintaining information security, controlling accessibility, managing document disposal, obtaining client consent, ensuring compliance, and training administrative staff. **Competition Act** **Ans** The Competition Act outlines both criminal and civil sections for dealing with non-compliance. It is enforced and managed by the Federal Competition Bureau. **Criteria for False or Misleading Advertisements** **Ans** To test for false or misleading advertisements, two main factors are considered: the general impression created by the ad and the material respect, which refers to any omissions that could mislead consumers. **PCMLTFA** **Ans** The Proceeds of Crime, Money Laundering, and Terrorist Financing Act (PCMLTFA) sets out measures to detect and prevent money laundering and the financing of terrorism. It enables law enforcement to gather information to combat organized crime by depriving criminals of the proceeds of their activities. **FINTRAC** **Ans** FINTRAC is the agency responsible for collecting, analyzing, and disclosing information to aid in the detection and prevention of money laundering and terrorist financing activities in Canada. **REA Advertising Rules** **Ans** The Real Estate Act (REA) mandates that all advertising must include the full name of the brokerage, must not be misleading, and should include th