RECA Fundamentals Exam Alberta
Complete Questions And 100%
Correct Answer
\Q\.Real Estate - ANSWER-✔refers to the land and fixed improvements to the land
\Q\.Classes of licence - ANSWER-✔associate, associate broker, broker and brokerage
\Q\.four areas of practice - ANSWER-✔residential, commercial, property management and
mortgage
\Q\.Industrial property - ANSWER-✔include warehouses and custom-built manufacturing
plants.
\Q\.Residential income property - ANSWER-✔include low-rise and high-rise apartments,
duplexes, fourplexes and townhouses
\Q\.supply and demand - ANSWER-✔characteristic that identifies the slow response of these 2
market forces affecting real estate
\Q\.scarce - ANSWER-✔characteristic that identifies real estate as a limited resource
\Q\.durable - ANSWER-✔characteristic that identifies real estate as indestructible
\Q\.fixed - ANSWER-✔characteristic that identifies real estate as immobile
, \Q\.unique - ANSWER-✔characteristic that identifies parcel of land as being different from one
another
\Q\.private - ANSWER-✔characteristic that identifies how real estate transactions are conducted
between a buyer and seller
\Q\.standardized - ANSWER-✔characteristic that identifies the inability to market properties for
all areas of real estate in a universal approach
\Q\.local - ANSWER-✔characteristic that identifies real estate transactions as occurring in a
defined area
\Q\.balanced market - ANSWER-✔-property prices generally stable
-supply of available properties and the number of buyers desiring to purchase properties are
somewhat equal
-properties sold within a reasonable time frame
affordable interest rates for financing
\Q\.sellers market - ANSWER-✔-local booming economy
-increasing property prices
-properties sell quickly
-market demand for properties in an area is greater than the available supply
\Q\.buyers market - ANSWER-✔-properties remain on the market for a longer period of time
-properties remain on the market for a longer period of time
-declining property prices
Complete Questions And 100%
Correct Answer
\Q\.Real Estate - ANSWER-✔refers to the land and fixed improvements to the land
\Q\.Classes of licence - ANSWER-✔associate, associate broker, broker and brokerage
\Q\.four areas of practice - ANSWER-✔residential, commercial, property management and
mortgage
\Q\.Industrial property - ANSWER-✔include warehouses and custom-built manufacturing
plants.
\Q\.Residential income property - ANSWER-✔include low-rise and high-rise apartments,
duplexes, fourplexes and townhouses
\Q\.supply and demand - ANSWER-✔characteristic that identifies the slow response of these 2
market forces affecting real estate
\Q\.scarce - ANSWER-✔characteristic that identifies real estate as a limited resource
\Q\.durable - ANSWER-✔characteristic that identifies real estate as indestructible
\Q\.fixed - ANSWER-✔characteristic that identifies real estate as immobile
, \Q\.unique - ANSWER-✔characteristic that identifies parcel of land as being different from one
another
\Q\.private - ANSWER-✔characteristic that identifies how real estate transactions are conducted
between a buyer and seller
\Q\.standardized - ANSWER-✔characteristic that identifies the inability to market properties for
all areas of real estate in a universal approach
\Q\.local - ANSWER-✔characteristic that identifies real estate transactions as occurring in a
defined area
\Q\.balanced market - ANSWER-✔-property prices generally stable
-supply of available properties and the number of buyers desiring to purchase properties are
somewhat equal
-properties sold within a reasonable time frame
affordable interest rates for financing
\Q\.sellers market - ANSWER-✔-local booming economy
-increasing property prices
-properties sell quickly
-market demand for properties in an area is greater than the available supply
\Q\.buyers market - ANSWER-✔-properties remain on the market for a longer period of time
-properties remain on the market for a longer period of time
-declining property prices
