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ALBERTA REAL ESTATE FUNDAMENTALS 2025
QUESTIONS AND ANSWERS.
1. Real Estate Assurance Fund - correct answer - Compensated
consumers who suffer financial loss as a result of fraud, breach
of trust or a failure to disburse or account for money held in
trust
2. Land surveyors - correct answer - Responsible for preparing
Real Property Reports
3. Real estate Insurance Exchange - correct answer - Entity that
provides professional liability insurance for real estate and
mortgage brokerage professionals
4. Chattels - correct answer - Personal property
5. Consumer Price Index (CPI) - correct answer - Measures the
change in the cost of a fixed basket of goods and services
purchased by families over a period of time
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6. What is not considered when determining if a substantial
connection to a jurisdiction exists?
a) the province in which the person holds authorization
b) geographic location
c) method and place from which documents are sent
d) potential that a claim may result due to financial loss
suffered - correct answer - d) potential that a claim may
result due to financial loss suffered
7. What would initiate a Professional Conduct Review?
a) Determining whether a complaint is in RECA's
jurisdiction
b) Receiving a verbal complaint
c) Determining is professional conduct review is
warranted by ED
d) Receiving a written complaint - correct answer - d)
Receiving a written complaint
8. What happens when a complaint is filed but not under RECA
jurisdiction? - correct answer - It is referred to another forum.
ALBERTA REAL ESTATE FUNDAMENTALS 2025
QUESTIONS AND ANSWERS.
1. Real Estate Assurance Fund - correct answer - Compensated
consumers who suffer financial loss as a result of fraud, breach
of trust or a failure to disburse or account for money held in
trust
2. Land surveyors - correct answer - Responsible for preparing
Real Property Reports
3. Real estate Insurance Exchange - correct answer - Entity that
provides professional liability insurance for real estate and
mortgage brokerage professionals
4. Chattels - correct answer - Personal property
5. Consumer Price Index (CPI) - correct answer - Measures the
change in the cost of a fixed basket of goods and services
purchased by families over a period of time
, Page | 2
6. What is not considered when determining if a substantial
connection to a jurisdiction exists?
a) the province in which the person holds authorization
b) geographic location
c) method and place from which documents are sent
d) potential that a claim may result due to financial loss
suffered - correct answer - d) potential that a claim may
result due to financial loss suffered
7. What would initiate a Professional Conduct Review?
a) Determining whether a complaint is in RECA's
jurisdiction
b) Receiving a verbal complaint
c) Determining is professional conduct review is
warranted by ED
d) Receiving a written complaint - correct answer - d)
Receiving a written complaint
8. What happens when a complaint is filed but not under RECA
jurisdiction? - correct answer - It is referred to another forum.
