RECA FUNDAMENTALS PRACTICE
SOLUTION SET 2026 TESTED QUESTIONS
WITH VERIFIED ANSWERS 100% CORRECT
◉ Provincial Legislature Answer: Which entity has the authority to
amend the Real Estate Act
◉ Consumer Price Index (CPI) Answer: 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
◉ an increase in quantity supplied Answer: 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?
◉ studies the basic theories of supply and demand as it relates to
individuals, households and firms Answer: Microeconics
◉ facilitate the exchange of factors of production Answer: Resource
Markets
◉ change in tastes, expectations, and number of consumers Answer:
What causes the quantity demanded to shift?
◉ depletion of natural resources Answer: benefits of economic growth
, ◉ document produced by Alberta Land Surveyor Answer: Real Property
Report
◉ cost of production Answer: Which of the following is not a non-price
determinant of demand
◉ mixed economy Answer: What type of economy does Canada have?
◉ - effective record keeping and administrative procedures
- education and advice in relation to brokerage trust accounting
- identifies and resolves potential problems regarding brokerage trust
accounting requirements Answer: Benefits of RECAS trust assurance
and practice review program
◉ - Handling professional conduct review
- establishing industry standards of practice
- issuing authorization to trade in real estate Answer: Responsibilities of
RECA
◉ land, labor, capital, entrepreneurship Answer: Four factors of
production
◉ - financial reports
- industry statistics
SOLUTION SET 2026 TESTED QUESTIONS
WITH VERIFIED ANSWERS 100% CORRECT
◉ Provincial Legislature Answer: Which entity has the authority to
amend the Real Estate Act
◉ Consumer Price Index (CPI) Answer: 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
◉ an increase in quantity supplied Answer: 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?
◉ studies the basic theories of supply and demand as it relates to
individuals, households and firms Answer: Microeconics
◉ facilitate the exchange of factors of production Answer: Resource
Markets
◉ change in tastes, expectations, and number of consumers Answer:
What causes the quantity demanded to shift?
◉ depletion of natural resources Answer: benefits of economic growth
, ◉ document produced by Alberta Land Surveyor Answer: Real Property
Report
◉ cost of production Answer: Which of the following is not a non-price
determinant of demand
◉ mixed economy Answer: What type of economy does Canada have?
◉ - effective record keeping and administrative procedures
- education and advice in relation to brokerage trust accounting
- identifies and resolves potential problems regarding brokerage trust
accounting requirements Answer: Benefits of RECAS trust assurance
and practice review program
◉ - Handling professional conduct review
- establishing industry standards of practice
- issuing authorization to trade in real estate Answer: Responsibilities of
RECA
◉ land, labor, capital, entrepreneurship Answer: Four factors of
production
◉ - financial reports
- industry statistics
