RECA Fundamentals Exam Complete Questions and
Verified Answers (100% Correct) Graded A+ | Latest
Updated 2026/2027 | Guaranteed Pass.
1. Which of the following is NOT a RECA educational resource for industry
professionals?
Answer. Spatial Information System (Spin 2)
2. Which entity has the authority to amend the Real Estate Act
Answer. Provincial Legislature
3. Which of the following measures the change in a cost of a fixed basket of goods and
services purchased by families over a period of time
Answer. Consumer Price Index (CPI)
4. Which of the following will occur to the supply of a good when there is a change in
quantity supplied due to a price increase?
Answer. an increase in quantity supplied
5. Microeconics
, Answer. studies the basic theories of supply and demand as it relates to
individuals, households and firms 6. Resource Markets
Answer. facilitate the exchange of factors of production
7. Real Property Report
Answer. document produced by Alberta Land Surveyor
8. Which of the following is not a non-price determinant of demand
Answer. cost of production
9. What type of economy does Canada have?
Answer. mixed economy
10. Benefits of RECAS trust assurance and practice review program
Answer. - ettective record keeping and administrative procedures
- education and advice in relation to brokerage trust accounting
- identifies and resolves potential problems regarding brokerage trust accounting
requirements
- What causes the quantity demanded to shift?
Answer. change in tastes, expectations, and number of consumers
,- benefits of economic growth
Answer. depletion of natural resources
13. Responsibilities of RECA
Answer. - Handling professional conduct review
- establishing industry standards of practice
- issuing authorization to trade in real estate
14. Four factors of production
Answer. land, labor, capital, entrepreneurship
16. The structure of real estate in Alberta includes;
Answer. - local real estate boards
- alberta real estate association
- canadian real estate association
17. Referral definition
, Answer. The act of recommending or directing a person for service to another person or
business
- brokerage is responsible for paying and receiving remuneration in connection to trade
15. RECA provides the following annual reports
Answer. - financial reports
- industry statistics
- reports for the previous year
18. RECAS professional conduct review Objects
Answer. - gather all relevant information
- treat parties fairly
-gather information eflciently
19. Amendments to the Act
Verified Answers (100% Correct) Graded A+ | Latest
Updated 2026/2027 | Guaranteed Pass.
1. Which of the following is NOT a RECA educational resource for industry
professionals?
Answer. Spatial Information System (Spin 2)
2. Which entity has the authority to amend the Real Estate Act
Answer. Provincial Legislature
3. Which of the following measures the change in a cost of a fixed basket of goods and
services purchased by families over a period of time
Answer. Consumer Price Index (CPI)
4. Which of the following will occur to the supply of a good when there is a change in
quantity supplied due to a price increase?
Answer. an increase in quantity supplied
5. Microeconics
, Answer. studies the basic theories of supply and demand as it relates to
individuals, households and firms 6. Resource Markets
Answer. facilitate the exchange of factors of production
7. Real Property Report
Answer. document produced by Alberta Land Surveyor
8. Which of the following is not a non-price determinant of demand
Answer. cost of production
9. What type of economy does Canada have?
Answer. mixed economy
10. Benefits of RECAS trust assurance and practice review program
Answer. - ettective record keeping and administrative procedures
- education and advice in relation to brokerage trust accounting
- identifies and resolves potential problems regarding brokerage trust accounting
requirements
- What causes the quantity demanded to shift?
Answer. change in tastes, expectations, and number of consumers
,- benefits of economic growth
Answer. depletion of natural resources
13. Responsibilities of RECA
Answer. - Handling professional conduct review
- establishing industry standards of practice
- issuing authorization to trade in real estate
14. Four factors of production
Answer. land, labor, capital, entrepreneurship
16. The structure of real estate in Alberta includes;
Answer. - local real estate boards
- alberta real estate association
- canadian real estate association
17. Referral definition
, Answer. The act of recommending or directing a person for service to another person or
business
- brokerage is responsible for paying and receiving remuneration in connection to trade
15. RECA provides the following annual reports
Answer. - financial reports
- industry statistics
- reports for the previous year
18. RECAS professional conduct review Objects
Answer. - gather all relevant information
- treat parties fairly
-gather information eflciently
19. Amendments to the Act
