1
ALBERTA REAL ESTATE FUNDAMENTALS ACTUAL
EXAM WITH CORRECT /ACCURATE ANSWERS|
100% RATED CORRECT !! 2025-2026| 100% SURE
PASS
In common law what does the term real estate refer to?
-
-Solution -Land and fixed improvements to the land
In common law what does the term real property refer
to? -
-Solution -Land, fixed improvements to the land and
intangible rights of ownership
Which of the following statements best describes the
term "personal property"? -
-Solution -A movable item that can be removed from
the property without causing damage to the property
Which industries are self regulated through RECA? -
-Solution -Real estate, mortgage brokerages, property
management, condominium management
What are the factors of production? -
-Solution -land, labor, capital, entrepreneurship
What is the Canadian economy referred to as? -
-Solution -Mixed Economy of capitalist & Socialist
What is quantity supplied? -
,2
-Solution -the amount of a good or service the market
can offer at a certain price
Define quantity demanded -
-Solution -The amount of good or service that would be
bought at a certain price
What causes movements and shifts in supply? -
-Solution -Movements are when a change in quantity is
caused only by a change in price. Shifts occur when
there are changes in influencing factors other than price.
What are the key non price determinants of supply? -
-Solution -Production costs and technology
What are the key non price determinants of demand? -
-Solution -Market size, consumers disposable income,
and consumers tastes/preferences
Describe market equilibrium -
-Solution -The price at which quantity demanded equals
quantity supplied. the price at which the market clears
and there is neither a shortage nor surplus
Describe market surplus -
-Solution -Quantity supplied exceeds quantity
demanded
Describe market shortage -
-Solution -When demand exceeds supply
,3
Describe a market bubble -
-Solution -Product price becomes grossly inflated
beyond its realistic value primarily due to excessive
consumer confidence
What is GDP? -
-Solution -the market value of all final goods and
services produced within a country in a given period of
time. Includes all consumer, government and business
spending plus exports less imports.
What is GNP? -
-Solution -the total value of all finished goods produced
by a country's citizens wether physically located in its
borders or abroad. GNP does not include income earned
within a country's borders by foreign residents.
Changes in economic activity are generally caused by? -
-Solution -Seasonal changes, business cycle, and secular
trends
What are the stages of a business cycle? -
-Solution -Expansion, prosperity, peak, contraction,
recession, trough and recovery
Who is responsible for the Real Estate Act in Alberta? -
-Solution -Minister of service Alberta
What happens in the expansion phase of a business
cycle? -
-Solution -Economy grows
, 4
Correct order of phases in a business cycle -
-Solution -Expansion, prosperity, peak, contraction,
recession, trough, recovery
What are the costs of economic growth? -
-Solution -Depleted natural resources, increases
inflation, increases environmental impacts
A commercial building has 4400 square meters of
available office space for rent. By year end, 1200 square
meters remains vacant. What is the vacancy rate? -
-Solution -27.27
What are the physical characteristics of real estate? -
-Solution -Unique, fixed, durable, scarce
The demand for office space is primarily the result of
which of the following? -
-Solution -Increase employment in the services and
financial sector
What are the types of real estate market? -
-Solution -Balanced, buyers, sellers
Name of market type where supply exceeds demand? -
-Solution -Buyers market
What are chattels what type of property? -
-Solution -Personal property
ALBERTA REAL ESTATE FUNDAMENTALS ACTUAL
EXAM WITH CORRECT /ACCURATE ANSWERS|
100% RATED CORRECT !! 2025-2026| 100% SURE
PASS
In common law what does the term real estate refer to?
-
-Solution -Land and fixed improvements to the land
In common law what does the term real property refer
to? -
-Solution -Land, fixed improvements to the land and
intangible rights of ownership
Which of the following statements best describes the
term "personal property"? -
-Solution -A movable item that can be removed from
the property without causing damage to the property
Which industries are self regulated through RECA? -
-Solution -Real estate, mortgage brokerages, property
management, condominium management
What are the factors of production? -
-Solution -land, labor, capital, entrepreneurship
What is the Canadian economy referred to as? -
-Solution -Mixed Economy of capitalist & Socialist
What is quantity supplied? -
,2
-Solution -the amount of a good or service the market
can offer at a certain price
Define quantity demanded -
-Solution -The amount of good or service that would be
bought at a certain price
What causes movements and shifts in supply? -
-Solution -Movements are when a change in quantity is
caused only by a change in price. Shifts occur when
there are changes in influencing factors other than price.
What are the key non price determinants of supply? -
-Solution -Production costs and technology
What are the key non price determinants of demand? -
-Solution -Market size, consumers disposable income,
and consumers tastes/preferences
Describe market equilibrium -
-Solution -The price at which quantity demanded equals
quantity supplied. the price at which the market clears
and there is neither a shortage nor surplus
Describe market surplus -
-Solution -Quantity supplied exceeds quantity
demanded
Describe market shortage -
-Solution -When demand exceeds supply
,3
Describe a market bubble -
-Solution -Product price becomes grossly inflated
beyond its realistic value primarily due to excessive
consumer confidence
What is GDP? -
-Solution -the market value of all final goods and
services produced within a country in a given period of
time. Includes all consumer, government and business
spending plus exports less imports.
What is GNP? -
-Solution -the total value of all finished goods produced
by a country's citizens wether physically located in its
borders or abroad. GNP does not include income earned
within a country's borders by foreign residents.
Changes in economic activity are generally caused by? -
-Solution -Seasonal changes, business cycle, and secular
trends
What are the stages of a business cycle? -
-Solution -Expansion, prosperity, peak, contraction,
recession, trough and recovery
Who is responsible for the Real Estate Act in Alberta? -
-Solution -Minister of service Alberta
What happens in the expansion phase of a business
cycle? -
-Solution -Economy grows
, 4
Correct order of phases in a business cycle -
-Solution -Expansion, prosperity, peak, contraction,
recession, trough, recovery
What are the costs of economic growth? -
-Solution -Depleted natural resources, increases
inflation, increases environmental impacts
A commercial building has 4400 square meters of
available office space for rent. By year end, 1200 square
meters remains vacant. What is the vacancy rate? -
-Solution -27.27
What are the physical characteristics of real estate? -
-Solution -Unique, fixed, durable, scarce
The demand for office space is primarily the result of
which of the following? -
-Solution -Increase employment in the services and
financial sector
What are the types of real estate market? -
-Solution -Balanced, buyers, sellers
Name of market type where supply exceeds demand? -
-Solution -Buyers market
What are chattels what type of property? -
-Solution -Personal property
