RECA Exam Study QUESTIONS AND ANSWERS [GRADED A+} 2024\2025
Study online at https://quizlet.com/_h7k6qx
Carl, a real estate professional, is reg-
istered with Prime Plus Real Estate Ltd.
He has listed his brother's house for sale
with the brokerage. A real estate profes-
Disclosure level 1
sional with another brokerage contacts
Carl and asks to preview the property as
she has a potential buyer. What level of
disclosure must Carl provide?
When evaluating an ethical dilemma, the
first step is awareness. An individual may
Others tell you that you have an ethical become aware of an ethical dilemma
dilemma through a variety of ways. Which one of
the following is typically NOT one of the
ways?
Which of the following statements is cor-
It continues without a time limit after real rect regarding the length of time that
estate services are no longer provided real estate professionals are obligated to
keep client information confidential?
Any instruction that is reasonable and Which of the following describes what is
ordinary under the circumstances meant by a lawful instruction?
Which of the following types of authority
involve describing (orally or in writing) the
Express Authority
actions that may be taken by an agent on
behalf of a principal?
Which of the following describes the par-
Third Party ty that exists outside of a representation
relationship?
Which of the following is NOT a type of
Functional Authority
authority an agent may hold?
Which of the following are the only enti-
Real Estate Brokerages
ties authorized to trade in real estate?
Which of the following categories of bro-
kerage services involves numerous ser-
Property Management Services
vices that require the greatest level of
discretion or judgement?
, RECA Exam Study QUESTIONS AND ANSWERS [GRADED A+} 2024\2025
Study online at https://quizlet.com/_h7k6qx
Which of the following does NOT apply to
Consideration always involves money
consideration?
Conditions must be waived for the con-
What is the difference between a condi-
tract to proceed, while a contract can still
tion and a term in a contract?
proceed with unmet terms
The contract must be in written form to Which of the following is NOT an essen-
be enforceable tial element of a contract?
The Ogami's have just completed their
first English language course. They want
to start a family business and take out
a mortgage on their small townhouse to
get funds for the business. However the
The contract may be voidable business fails and they must repay the
mortgage. Since the Ogami's struggle
with English, they did not understand the
mortgage contract. If they challenge the
contract, what term describes the possi-
ble result?
Which of the following is NOT character-
Pricing
istic of value in relation to a commodity?
Which of the following Professional Con-
duct Review outcomes is issued as a
Advisory Note
practice guideline for a technical breach
of the legislation?
Which of the following statements is
correct regarding the Real Estate Act
Rules?
The Rules may only be amended by the
provincial legislature
RECA posts the most current version of
B) Statements II, III and IV
the Rules on its website
The Rules refer to the standards of prac-
tice for industry professionals
When contemplating amendments to the
Rules, RECA consults with industry pro-
fessionals and stakeholders
Study online at https://quizlet.com/_h7k6qx
Carl, a real estate professional, is reg-
istered with Prime Plus Real Estate Ltd.
He has listed his brother's house for sale
with the brokerage. A real estate profes-
Disclosure level 1
sional with another brokerage contacts
Carl and asks to preview the property as
she has a potential buyer. What level of
disclosure must Carl provide?
When evaluating an ethical dilemma, the
first step is awareness. An individual may
Others tell you that you have an ethical become aware of an ethical dilemma
dilemma through a variety of ways. Which one of
the following is typically NOT one of the
ways?
Which of the following statements is cor-
It continues without a time limit after real rect regarding the length of time that
estate services are no longer provided real estate professionals are obligated to
keep client information confidential?
Any instruction that is reasonable and Which of the following describes what is
ordinary under the circumstances meant by a lawful instruction?
Which of the following types of authority
involve describing (orally or in writing) the
Express Authority
actions that may be taken by an agent on
behalf of a principal?
Which of the following describes the par-
Third Party ty that exists outside of a representation
relationship?
Which of the following is NOT a type of
Functional Authority
authority an agent may hold?
Which of the following are the only enti-
Real Estate Brokerages
ties authorized to trade in real estate?
Which of the following categories of bro-
kerage services involves numerous ser-
Property Management Services
vices that require the greatest level of
discretion or judgement?
, RECA Exam Study QUESTIONS AND ANSWERS [GRADED A+} 2024\2025
Study online at https://quizlet.com/_h7k6qx
Which of the following does NOT apply to
Consideration always involves money
consideration?
Conditions must be waived for the con-
What is the difference between a condi-
tract to proceed, while a contract can still
tion and a term in a contract?
proceed with unmet terms
The contract must be in written form to Which of the following is NOT an essen-
be enforceable tial element of a contract?
The Ogami's have just completed their
first English language course. They want
to start a family business and take out
a mortgage on their small townhouse to
get funds for the business. However the
The contract may be voidable business fails and they must repay the
mortgage. Since the Ogami's struggle
with English, they did not understand the
mortgage contract. If they challenge the
contract, what term describes the possi-
ble result?
Which of the following is NOT character-
Pricing
istic of value in relation to a commodity?
Which of the following Professional Con-
duct Review outcomes is issued as a
Advisory Note
practice guideline for a technical breach
of the legislation?
Which of the following statements is
correct regarding the Real Estate Act
Rules?
The Rules may only be amended by the
provincial legislature
RECA posts the most current version of
B) Statements II, III and IV
the Rules on its website
The Rules refer to the standards of prac-
tice for industry professionals
When contemplating amendments to the
Rules, RECA consults with industry pro-
fessionals and stakeholders
