Real Estate Fundamentals Exam 2024 | All Questions And Correct Answers |
Graded A+ | Verified Answers | Latest Edition (Just Released)
Consumer Confidence - (CORRECT ANSWER)The degree of optimism that consumers feel about the
overall state of the economy and their personal financial situation.
Market-Driven Economy - (CORRECT ANSWER)An economy in which prices and production are
determined by unrestricted competition between privately owned businesses.
Economic Slowdown - (CORRECT ANSWER)A period of reduced economic activity, characterized by a
decline in GDP and other economic indicators.
Endowed - (CORRECT ANSWER)To provide with a quality, ability, or asset.
Tenures - (CORRECT ANSWER)The conditions under which land or buildings are held.
Ebb - (CORRECT ANSWER)To gradually lessen or reduce.
Faltered - (CORRECT ANSWER)Starting to lose strength or momentum.
Adjudicate - (CORRECT ANSWER)To make a normal decision about a problem.
Subsidized - (CORRECT ANSWER)To financially support an organization or institution.
"In Principal" - (CORRECT ANSWER)Refers to a party who is represented on behalf during a transaction.
Geodesy - (CORRECT ANSWER)The science of the measurement of the earth.
Indemnity - (CORRECT ANSWER)Security or protection against loss.
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,Repealed - (CORRECT ANSWER)To revoke or annul a law or congressional act.
Facsimile - (CORRECT ANSWER)An exact copy or replica.
Informed Consent - (CORRECT ANSWER)The client must have sufficient information prior to making a
decision.
Written Consent - (CORRECT ANSWER)Formal agreement documented in writing.
Secret Profit - (CORRECT ANSWER)Making a profit without the client knowing.
Fiduciary - (CORRECT ANSWER)An obligation to have the client's best interest as my sole priority.
Agency Law - (CORRECT ANSWER)Establishes a set of fiduciary obligations for real estate professionals
acting as agents on behalf of their clients.
Service Agreement - (CORRECT ANSWER)The contract between real estate professionals and clients.
ARELLO - (CORRECT ANSWER)Association of Real Estate License Law Officials.
PIPA - (CORRECT ANSWER)Personal Information Protection Act of Alberta.
PIPEDA - (CORRECT ANSWER)Personal Information Protection and Electronic Documents Act.
Alberta Human Rights Act - (CORRECT ANSWER)Legislation aimed at protecting human rights in Alberta.
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,Alberta Real Estate Act - (CORRECT ANSWER)Regulates real estate professionals and transactions in
Alberta.
Education Code of Conduct - (CORRECT ANSWER)Standards of conduct for educational institutions.
BOMA - (CORRECT ANSWER)Building Owners and Managers Association.
Consumer Protection Act (CPA) - (CORRECT ANSWER)Legislation that protects consumers from unfair
business practices.
Competition Act - (CORRECT ANSWER)Requires adequate and fair disclosure of the number and
approximate value of prizes.
Guaranteed Sale Program - (CORRECT ANSWER)When a brokerage guarantees the price and date of
execution for a property.
Addendum - (CORRECT ANSWER)Something added at the end of a book or article to clarify something.
Ascertainable - (CORRECT ANSWER)To make certain of something, making it clear.
Qualified Privilege - (CORRECT ANSWER)When someone cannot take recourse against RECA for
publication of documentation.
Culpability - (CORRECT ANSWER)A level for moral responsibility.
Caveat - (CORRECT ANSWER)Placing a warning or proviso on a property with stipulations.
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, Expedience - (CORRECT ANSWER)Using an improper or immoral method to gain a result for the sake of
convenience.
Disrepute - (CORRECT ANSWER)Being held in a state of low esteem by the public.
Arbitrator - (CORRECT ANSWER)An independent person officially hired to assist settle a dispute.
Federally Regulated Company - (CORRECT ANSWER)An organization that falls within jurisdiction of the
federal government's legislation.
Impropriety - (CORRECT ANSWER)Failure to observe standards or show due honesty.
Secession - (CORRECT ANSWER)Separation from the existing government.
Tenure - (CORRECT ANSWER)The conditions under which land or buildings are held or occupied.
Expropriate - (CORRECT ANSWER)To take away property from its owner, especially by the state.
Confer - (CORRECT ANSWER)To grant or bestow a title, benefit or right.
Precedent - (CORRECT ANSWER)An earlier event or action regarded as an example for similar
circumstances.
Probate - (CORRECT ANSWER)The process of appointing a will or designating an estate administrator.
Indefeasibility - (CORRECT ANSWER)Not able to be lost, annulled or overruled.
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Graded A+ | Verified Answers | Latest Edition (Just Released)
Consumer Confidence - (CORRECT ANSWER)The degree of optimism that consumers feel about the
overall state of the economy and their personal financial situation.
Market-Driven Economy - (CORRECT ANSWER)An economy in which prices and production are
determined by unrestricted competition between privately owned businesses.
Economic Slowdown - (CORRECT ANSWER)A period of reduced economic activity, characterized by a
decline in GDP and other economic indicators.
Endowed - (CORRECT ANSWER)To provide with a quality, ability, or asset.
Tenures - (CORRECT ANSWER)The conditions under which land or buildings are held.
Ebb - (CORRECT ANSWER)To gradually lessen or reduce.
Faltered - (CORRECT ANSWER)Starting to lose strength or momentum.
Adjudicate - (CORRECT ANSWER)To make a normal decision about a problem.
Subsidized - (CORRECT ANSWER)To financially support an organization or institution.
"In Principal" - (CORRECT ANSWER)Refers to a party who is represented on behalf during a transaction.
Geodesy - (CORRECT ANSWER)The science of the measurement of the earth.
Indemnity - (CORRECT ANSWER)Security or protection against loss.
1
,Repealed - (CORRECT ANSWER)To revoke or annul a law or congressional act.
Facsimile - (CORRECT ANSWER)An exact copy or replica.
Informed Consent - (CORRECT ANSWER)The client must have sufficient information prior to making a
decision.
Written Consent - (CORRECT ANSWER)Formal agreement documented in writing.
Secret Profit - (CORRECT ANSWER)Making a profit without the client knowing.
Fiduciary - (CORRECT ANSWER)An obligation to have the client's best interest as my sole priority.
Agency Law - (CORRECT ANSWER)Establishes a set of fiduciary obligations for real estate professionals
acting as agents on behalf of their clients.
Service Agreement - (CORRECT ANSWER)The contract between real estate professionals and clients.
ARELLO - (CORRECT ANSWER)Association of Real Estate License Law Officials.
PIPA - (CORRECT ANSWER)Personal Information Protection Act of Alberta.
PIPEDA - (CORRECT ANSWER)Personal Information Protection and Electronic Documents Act.
Alberta Human Rights Act - (CORRECT ANSWER)Legislation aimed at protecting human rights in Alberta.
2
,Alberta Real Estate Act - (CORRECT ANSWER)Regulates real estate professionals and transactions in
Alberta.
Education Code of Conduct - (CORRECT ANSWER)Standards of conduct for educational institutions.
BOMA - (CORRECT ANSWER)Building Owners and Managers Association.
Consumer Protection Act (CPA) - (CORRECT ANSWER)Legislation that protects consumers from unfair
business practices.
Competition Act - (CORRECT ANSWER)Requires adequate and fair disclosure of the number and
approximate value of prizes.
Guaranteed Sale Program - (CORRECT ANSWER)When a brokerage guarantees the price and date of
execution for a property.
Addendum - (CORRECT ANSWER)Something added at the end of a book or article to clarify something.
Ascertainable - (CORRECT ANSWER)To make certain of something, making it clear.
Qualified Privilege - (CORRECT ANSWER)When someone cannot take recourse against RECA for
publication of documentation.
Culpability - (CORRECT ANSWER)A level for moral responsibility.
Caveat - (CORRECT ANSWER)Placing a warning or proviso on a property with stipulations.
3
, Expedience - (CORRECT ANSWER)Using an improper or immoral method to gain a result for the sake of
convenience.
Disrepute - (CORRECT ANSWER)Being held in a state of low esteem by the public.
Arbitrator - (CORRECT ANSWER)An independent person officially hired to assist settle a dispute.
Federally Regulated Company - (CORRECT ANSWER)An organization that falls within jurisdiction of the
federal government's legislation.
Impropriety - (CORRECT ANSWER)Failure to observe standards or show due honesty.
Secession - (CORRECT ANSWER)Separation from the existing government.
Tenure - (CORRECT ANSWER)The conditions under which land or buildings are held or occupied.
Expropriate - (CORRECT ANSWER)To take away property from its owner, especially by the state.
Confer - (CORRECT ANSWER)To grant or bestow a title, benefit or right.
Precedent - (CORRECT ANSWER)An earlier event or action regarded as an example for similar
circumstances.
Probate - (CORRECT ANSWER)The process of appointing a will or designating an estate administrator.
Indefeasibility - (CORRECT ANSWER)Not able to be lost, annulled or overruled.
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