RECA EXAM STUDY QUESTIONS AND ANSWERS
Carl, a real estate professional, is registered with Prime Plus Real Estate Ltd. He has listed his
brother's house for sale with the brokerage. A real estate professional with another brokerage
contacts Carl and asks to preview the property as she has a potential buyer. What level of
disclosure must Carl provide? ANS >>Disclosure level 1
When evaluating an ethical dilemma, the first step is awareness. An individual may become
aware of an ethical dilemma through a variety of ways. Which one of the following is typically
NOT one of the ways? ANS >>Others tell you that you have an ethical dilemma
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, Which of the following statements is correct regarding the length of time that real estate
professionals are obligated to keep client information confidential? ANS >>It continues
without a
time limit after real estate services are no longer provided
Which of the following describes what is meant by a lawful instruction? ANS >>Any instruction
that
is reasonable and ordinary under the circumstances
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, Which of the following types of authority involve describing (orally or in writing) the actions
that may be taken by an agent on behalf of a principal? ANS >>Express Authority
Which of the following describes the party that exists outside of a representation relationship?
ANS >>Third Party
Which of the following is NOT a type of authority an agent may hold? ANS >>Functional
Authority
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, Which of the following are the only entities authorized to trade in real estate? ANS >>Real Estate
Brokerages
Which of the following categories of brokerage services involves numerous services that require
the greatest level of discretion or judgement? ANS >>Property Management Services
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Carl, a real estate professional, is registered with Prime Plus Real Estate Ltd. He has listed his
brother's house for sale with the brokerage. A real estate professional with another brokerage
contacts Carl and asks to preview the property as she has a potential buyer. What level of
disclosure must Carl provide? ANS >>Disclosure level 1
When evaluating an ethical dilemma, the first step is awareness. An individual may become
aware of an ethical dilemma through a variety of ways. Which one of the following is typically
NOT one of the ways? ANS >>Others tell you that you have an ethical dilemma
mailto:https://www.stuvia.com/en-us/user/techgrades
, Which of the following statements is correct regarding the length of time that real estate
professionals are obligated to keep client information confidential? ANS >>It continues
without a
time limit after real estate services are no longer provided
Which of the following describes what is meant by a lawful instruction? ANS >>Any instruction
that
is reasonable and ordinary under the circumstances
mailto:https://www.stuvia.com/en-us/user/techgrades
, Which of the following types of authority involve describing (orally or in writing) the actions
that may be taken by an agent on behalf of a principal? ANS >>Express Authority
Which of the following describes the party that exists outside of a representation relationship?
ANS >>Third Party
Which of the following is NOT a type of authority an agent may hold? ANS >>Functional
Authority
mailto:https://www.stuvia.com/en-us/user/techgrades
, Which of the following are the only entities authorized to trade in real estate? ANS >>Real Estate
Brokerages
Which of the following categories of brokerage services involves numerous services that require
the greatest level of discretion or judgement? ANS >>Property Management Services
mailto:https://www.stuvia.com/en-us/user/techgrades
