RECA FUNDAMENTALS ALBERTA EXAM
Complete Questions and Guide Answers
100% Verified Graded A+
1. Real Estate
Answer: refers to the land and fixed improvements to the land
2. Classes of licence
Answer: associate, associate broker, broker and brokerage
3. four areas of practice
Answer: residential, commercial, property management and mortgage
4. Industrial property
Answer: include warehouses and custom-built manufacturing plants.
5. Residential income property
Answer: include low-rise and high-rise apartments, duplexes, fourplexes and townhouses
6. supply and demand
Answer: characteristic that identifies the slow response of these 2 market forces attecting real estate
, 7. scarce
Answer: characteristic that identifies real estate as a limited resource
8. durable
Answer: characteristic that identifies real estate as indestructible
9. fixed
Answer: characteristic that identifies real estate as immobile
10. unique
Answer: characteristic that identifies parcel of land as being ditterent from one another
11. private
Answer: characteristic that identifies how real estate transactions are conducted between a buyer and seller
12. standardized
Answer: characteristic that identifies the inability to market properties for all areas of real estate in a universal approach
13. local
Answer: characteristic that identifies real estate transactions as occurring in a defined area
14. balanced market
Answer: -property prices generally stable
-supply of available properties and the number of buyers desiring to purchase properties are somewhat equal
Complete Questions and Guide Answers
100% Verified Graded A+
1. Real Estate
Answer: refers to the land and fixed improvements to the land
2. Classes of licence
Answer: associate, associate broker, broker and brokerage
3. four areas of practice
Answer: residential, commercial, property management and mortgage
4. Industrial property
Answer: include warehouses and custom-built manufacturing plants.
5. Residential income property
Answer: include low-rise and high-rise apartments, duplexes, fourplexes and townhouses
6. supply and demand
Answer: characteristic that identifies the slow response of these 2 market forces attecting real estate
, 7. scarce
Answer: characteristic that identifies real estate as a limited resource
8. durable
Answer: characteristic that identifies real estate as indestructible
9. fixed
Answer: characteristic that identifies real estate as immobile
10. unique
Answer: characteristic that identifies parcel of land as being ditterent from one another
11. private
Answer: characteristic that identifies how real estate transactions are conducted between a buyer and seller
12. standardized
Answer: characteristic that identifies the inability to market properties for all areas of real estate in a universal approach
13. local
Answer: characteristic that identifies real estate transactions as occurring in a defined area
14. balanced market
Answer: -property prices generally stable
-supply of available properties and the number of buyers desiring to purchase properties are somewhat equal
