RECA FUNDAMENTALS COMPREHENSIVE TEST BANK 2026 SOLVED QUESTIONS WITH FULL SOLUTION GRADED A+

RECA FUNDAMENTALS COMPREHENSIVE
TEST BANK 2026 SOLVED QUESTIONS
WITH FULL SOLUTION GRADED A+
◉ Classes of licence Answer: associate, associate broker, broker and
brokerage


◉ four areas of practice Answer: residential, commercial, property
management and mortgage


◉ Industrial property Answer: include warehouses and custom-built
manufacturing plants.


◉ Residential income property Answer: include low-rise and high-rise
apartments, duplexes, fourplexes and townhouses


◉ supply and demand Answer: characteristic that identifies the slow
response of these 2 market forces affecting real estate


◉ scarce Answer: characteristic that identifies real estate as a limited
resource


◉ durable Answer: characteristic that identifies real estate as
indestructible


◉ fixed Answer: characteristic that identifies real estate as immobile

, ◉ unique Answer: characteristic that identifies parcel of land as being
different from one another


◉ private Answer: characteristic that identifies how real estate
transactions are conducted between a buyer and seller


◉ standardized Answer: characteristic that identifies the inability to
market properties for all areas of real estate in a universal approach


◉ local Answer: characteristic that identifies real estate transactions as
occurring in a defined area


◉ balanced market Answer: -property prices generally stable
-supply of available properties and the number of buyers desiring to
purchase properties are somewhat equal
-properties sold within a reasonable time frame
affordable interest rates for financing


◉ sellers market Answer: -local booming economy
-increasing property prices
-properties sell quickly
-market demand for properties in an area is greater than the available
supply