Alberta Real Estate Fundamentals ACTUAL exam: QUESTION AND ANSWERS UPDATED 2025

Alberta Real Estate Fundamentals ACTUAL exam:
QUESTION AND ANSWERS UPDATED 2025
Real Estate - (ANSWER)The land and fixed improvements to the land



Classes of License - (ANSWER)1. Associate

2. Associate Broker

3. Broker



4 Areas of Practice - (ANSWER)1. Residential

2. Commercial

3. Rural

4. Property Management



Mobile homes fall under the same category as recreational properties -
(ANSWER)False



Industrial Properties - (ANSWER)Include warehouses and custom-built
manufacturing plants



Residential Income property - (ANSWER)Include low-rise and high-rise
apartments, duplexes, fourplexes, and townhouses



Characteristic: Scarce - (ANSWER)Identifies real estate as a limited resource

, Characteristic: Durable - (ANSWER)Identifies real estate as indestructible



Characteristic: Fixed - (ANSWER)Identifies real estate as immobile



Characteristic: Unique - (ANSWER)Identifies parcels of land as being different
from one another



Characteristic: Private - (ANSWER)Identifies how real estate transactions are
conducted between a buyer and seller



Characteristic: Supply/Demand - (ANSWER)Identifies the slow response of these
2 market forces affecting real estate



Characteristic: Standardized - (ANSWER)Identifies the inability to marker
properties for all areas of real estate in a universal approach



Characteristic: Local - (ANSWER)Identifies real estate transactions as occurring in
a defined area



High volumes of mortgage lending reflect the lack of confidence in the safety and
desirability of real estate - (ANSWER)False



Booming local economy - (ANSWER)Sellers' market