RECA QUIZ 1 QUESTIONS AND
COMPLETE SOLUTIONS
GRADED A+
Your Exam Plug
, Lola start her busy day with a task list. Which following tasks should she consider scheduling for a later
time? - Answer: Managing social media and online presence
Licensee Elliel's buyer client wants to submit an offer with no conditions on an appealing house after a
year-long search . What is Eliel's responsibility? - Answer: Inform the client about the risks of condition-
free offer
From a brokerage perspective, which mortgage fraud prevention practices should be in places?
I. Implementing training on RECA's mortgage fraud red flags detection and prevention
II. Implement training on the offices policies and procedure for mortgages fraud detection and
prevention
III. Submit the office policies and procedures for mortgage fraud detection and prevention to RECA for
review.
IV. Regularly review and update the office policies an procedures for mortgage fraud detection and
prevention. - Answer: I, II, and IV
Why the Statue of Frauds require certain contracts be in writing? - Answer: Written contracts are easier
to prove and enforce.
What is the potential drawback of submitting a low ball offer in negotiations? - Answer: It may insult the
seller and jeopardize negotiations
Victor is a licensee representing Lindsey. Victor receives a call from a prospective buyer who would be
interested in viewing the property. Lindsey gives victor instructions to refuse the property, and explains
that due to political climate, she would not feel comfortable in selling her property to with the buyer's
nationality. What should be Victor do? - Answer: Explain to Lindsey that what she is instructing is
housing discrimination.
The seller: - Answer: Is in control in a multiple offer situation
Under the Residential Tenancies Act, when can a landlord enter a tenant's leased premises without
consent or notice?
I. when access is needed for the fire department to check for the source of the fire.
COMPLETE SOLUTIONS
GRADED A+
Your Exam Plug
, Lola start her busy day with a task list. Which following tasks should she consider scheduling for a later
time? - Answer: Managing social media and online presence
Licensee Elliel's buyer client wants to submit an offer with no conditions on an appealing house after a
year-long search . What is Eliel's responsibility? - Answer: Inform the client about the risks of condition-
free offer
From a brokerage perspective, which mortgage fraud prevention practices should be in places?
I. Implementing training on RECA's mortgage fraud red flags detection and prevention
II. Implement training on the offices policies and procedure for mortgages fraud detection and
prevention
III. Submit the office policies and procedures for mortgage fraud detection and prevention to RECA for
review.
IV. Regularly review and update the office policies an procedures for mortgage fraud detection and
prevention. - Answer: I, II, and IV
Why the Statue of Frauds require certain contracts be in writing? - Answer: Written contracts are easier
to prove and enforce.
What is the potential drawback of submitting a low ball offer in negotiations? - Answer: It may insult the
seller and jeopardize negotiations
Victor is a licensee representing Lindsey. Victor receives a call from a prospective buyer who would be
interested in viewing the property. Lindsey gives victor instructions to refuse the property, and explains
that due to political climate, she would not feel comfortable in selling her property to with the buyer's
nationality. What should be Victor do? - Answer: Explain to Lindsey that what she is instructing is
housing discrimination.
The seller: - Answer: Is in control in a multiple offer situation
Under the Residential Tenancies Act, when can a landlord enter a tenant's leased premises without
consent or notice?
I. when access is needed for the fire department to check for the source of the fire.
