PRACTICE 2 RECA QUESTIONS
AND COMPLETE SOLUTIONS
GRADED A+
Your Exam Plug
,To which of the following activities does the Personal Information Protection and Electronic Documents
Act ( PIPEDA ) apply ?
I. Federally regulated commerce
II . International and interprovincial commerce
III . Commerce where there is similar provincial privacy legislation
IV . Commerce where there is no provincial privacy legislation
A ) Statements I , II and III
B ) Statements I , II and IV
C ) Statements I , III and IV
D ) Statements II , III and IV - Answer:
Which statement is the most accurate regarding the standards of practice prescribed in the Rules ?
A ) All licensees are required to comply with the standards of practice
B ) The standards of practice set a minimum level of conduct expected of all licensees
C ) The standards of practice include licensee responsibilities and prohibitions
D ) All the statements apply - Answer: D ) All the statements apply
Transaction brokerage may only proceed if which of the following occurs
A ) Only one client provides informed consent
B ) Both clients provide their informed consent
C ) The real estate licensees provide informed consent
D ) The broker provides informed consent - Answer: B ) Both clients provide their informed consent
Which rights of ownership of land are included in the Bundle of Rights ?
, A ) Possess , use , enjoy , and sell the land
B ) Possess , use , enjoy , and develop the land
C ) Acquire , use , enjoy , and sell the land
D ) Acquire , lease , mortgage , and dispose of the land - Answer: A ) Possess , use , enjoy , and sell the
land
Why should real estate licensees understand contracts ?
A ) Brokerages use written service agreements when representing clients
B ) Brokerages may utilize an employment contract when hiring new licensees
C ) Real estate purchase contracts are important documents when trading in real estate
D ) All these statements apply - Answer: Na
Why does the Statute of Frauds require certain contracts be in writing ?
A ) Written contracts are easier to register against the title
B ) Written contracts prevent default on mortgages
C ) Written contracts facilitate the negotiation process
D ) Written contracts are easier to prove and enforce - Answer: D ) Written contracts are easier to prove
and enforce
Which of the following conditions are used for real estate purchase contracts in Alberta ?
A ) Conditions subsequent
B ) Conditions precedent
C ) Conditions specific
D ) Conditions ascendant - Answer: B ) Conditions precedent
Which of the following is a best practice that real estate licensees should adopt when completing
contracts ?
AND COMPLETE SOLUTIONS
GRADED A+
Your Exam Plug
,To which of the following activities does the Personal Information Protection and Electronic Documents
Act ( PIPEDA ) apply ?
I. Federally regulated commerce
II . International and interprovincial commerce
III . Commerce where there is similar provincial privacy legislation
IV . Commerce where there is no provincial privacy legislation
A ) Statements I , II and III
B ) Statements I , II and IV
C ) Statements I , III and IV
D ) Statements II , III and IV - Answer:
Which statement is the most accurate regarding the standards of practice prescribed in the Rules ?
A ) All licensees are required to comply with the standards of practice
B ) The standards of practice set a minimum level of conduct expected of all licensees
C ) The standards of practice include licensee responsibilities and prohibitions
D ) All the statements apply - Answer: D ) All the statements apply
Transaction brokerage may only proceed if which of the following occurs
A ) Only one client provides informed consent
B ) Both clients provide their informed consent
C ) The real estate licensees provide informed consent
D ) The broker provides informed consent - Answer: B ) Both clients provide their informed consent
Which rights of ownership of land are included in the Bundle of Rights ?
, A ) Possess , use , enjoy , and sell the land
B ) Possess , use , enjoy , and develop the land
C ) Acquire , use , enjoy , and sell the land
D ) Acquire , lease , mortgage , and dispose of the land - Answer: A ) Possess , use , enjoy , and sell the
land
Why should real estate licensees understand contracts ?
A ) Brokerages use written service agreements when representing clients
B ) Brokerages may utilize an employment contract when hiring new licensees
C ) Real estate purchase contracts are important documents when trading in real estate
D ) All these statements apply - Answer: Na
Why does the Statute of Frauds require certain contracts be in writing ?
A ) Written contracts are easier to register against the title
B ) Written contracts prevent default on mortgages
C ) Written contracts facilitate the negotiation process
D ) Written contracts are easier to prove and enforce - Answer: D ) Written contracts are easier to prove
and enforce
Which of the following conditions are used for real estate purchase contracts in Alberta ?
A ) Conditions subsequent
B ) Conditions precedent
C ) Conditions specific
D ) Conditions ascendant - Answer: B ) Conditions precedent
Which of the following is a best practice that real estate licensees should adopt when completing
contracts ?
