RECA Practice Exam (residential) Study ACTUAL EXAM 2025 TEST COMPREHENSIVE QUESTIONS AND VERIFIED ANSWERS (DETAILED & ELABORATED) 100% SOLVED 2025!!

5/13/25, 8:55 AM RECA Practice Exam (residential) Study ACTUAL EXAM 2025 TEST COMPREHENSIVE QUESTIONS AND VERIFIED ANSW…




RECA Practice Exam (residential) Study ACTUAL
EXAM 2025 TEST COMPREHENSIVE
QUESTIONS AND VERIFIED ANSWERS
(DETAILED & ELABORATED) 100% SOLVED
2025!!

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Terms in this set (112)


- Trust and confidence
Fiduciary Representation - Best interests
- Loyalty

1. Discuss
2. Determine
5 Ds of Role Clarity 3. Document
4. Disclose
5. Do

- the nature of services provided
- whether professional has entered into
representation relationship with other party
- any conflicts of interest
Must disclose in writing - any other facts that may influence consumers
decision to proceed with relationship


made to clarify and provide proof of undertanding
in event issues or disputes arise




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Written Service Agreement
- when consumer chooses a representation
relationship
- becomes a client
Written Service
- provide signed copy to brokerage
Agreement vs Customer
Acknowledgement Forms
Customer Acknowledge forms
- non-representation relationship
- becomes a customer
- provide signed copy to brokerage

PIPEDA - Federal legislation

Alberta's legislation, how private organizations use
PIPA
and disclose personal information.

a legal document authorizing someone to act on
your behalf
- must be 18
- POA must be written, dated and signed by both
Power of Attorney donor and witness
- donor must be mentally capable or contract is
void
- only effective as long as donor is alive, will takes
effect once death




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General POA
- has no limits on powers of the attorney
- can make all decisions regarding financial and
legal affairs
- exception where the donor resides and health
care


Special POA
- make certain decisions
- also called limited POA
- may grant authority to oversee sale, deals with
land
- must be registered on Certificate of Title
Types of POA

Immediate POA
- takes effect as soon as POA is signed, dated and
witnessed
- terminates upon loss of mental capacity or death


Enduring POA
- immediately upon being signed, dated and
witnessed
- continues if donor becomes incapable, mentally
incapacitated
- must include statement whether it takes effect
immediately and continues...

Court ordered sale usually as a way to resolve legal
matters
Judicial Sale
- primary debt recovery method for default
mortgages

legal action supervised by the court following a
default on the mortgage.
Foreclosure
-transfers the real property from the borrower to
the lender and erases interests on title.

Legislation that establishes technical specifications
Alberta Building Code for new building construction and construction
materials


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typically valid for one year during which
Building Permit
construction process must be initiated

Manufactured
- three sections that are 95% complete when they
leave the factory.
- secure the sections to the foundation and join
together
- can often move in the same day or within days
- saves time and mony


Modular Construction
Factory Built - manufacturing three dimensional units, 85 percent
Construction complete when they leave
- requires few weeks on site to be complete
- allows for creation of multi-story buildings


Panelized construction
- creation of pre-fabricated wall, floor or roof
panels
- panels may be completed fully or partially
- may consist of just the frame or fully complete with
windows and siding

provincial legislation that sets specifications for new
Alberta Safety Codes Act
building.




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