RECA Fundamentals Exam || Most Recent Exam 2026
-2027 Actual Complete Real Exam Questions And
Correct Answers (Verified Answers) Already
Graded A+ | Guaranteed Success!! Newest
Exam | Just Released!!
Elements of representation relationships - ANSWER --
controlled by principal
(client)
- involves fiduciary
duties
- affects principals legal
position
Transaction Brokerage - ANSWER --means to resolve
conflict of interests
- if both clients accept conflict trade
can proceed
- written
agreement
- clients must have opportunity to review agreement
before signing
- must get opportunity to ask
questions
Rights of Land - ANSWER -Fee Simple - freehold, absolute
owner of land
,Leasehold - interest in land expires with lease agreement
life estate - interest in land for
duration of life
- reverts to fee simple with
death
Dover Act - ANSWER -upon death non-titled spouse
acquired interest
- only applies if legally married and
matrimonial house
- dissolves with
divorce
Quantum Meruit - ANSWER -amount awarded by courts for
contractual work
done to
date
Essential Elements of a Contract - ANSWER -Legal object,
capacity of both parties, consideration, intent to contract,
genuine consent, mutual agreement
Discharged contract - ANSWER -was valid and has now ended
privity of contract - ANSWER -- legal actions can only be taken
by contracting
parties
,- only original parties are bound by
contract
Powers of Attorney - ANSWER -
General
- has no limits, can make financial and legal
decisions
- cannot make decisions about health care and
where they reside
Special
- specific/limited
powers
Immediate
- appoints an attorney to make financial/legal decisions
- terminates upon loss of mental capacity/death
Enduring
- takes effect immediately if donor becomes
incapable
Conditions precedent - ANSWER -- used in alberta
- party needs to waive or remove conditions for contract to
proceed
- must be waived for contract to proceed
, Bundle of rights - ANSWER -right to possess, use, enjoy and
sell the land
-
lease/rent
- sell/give
away
- enter/use/do
nothing
Land - ANSWER -includes physical ground
and air space
characteristics;
- durable, rigid, immobile,
unique, scarce
Real Estate vs Property vs Real Property - ANSWER
-Real estate
- Raw land + any improvements that are
permanent or fixed
Property
- rights of ownership,
intangible
Real
Property
- land, real estate, and
property rights
-2027 Actual Complete Real Exam Questions And
Correct Answers (Verified Answers) Already
Graded A+ | Guaranteed Success!! Newest
Exam | Just Released!!
Elements of representation relationships - ANSWER --
controlled by principal
(client)
- involves fiduciary
duties
- affects principals legal
position
Transaction Brokerage - ANSWER --means to resolve
conflict of interests
- if both clients accept conflict trade
can proceed
- written
agreement
- clients must have opportunity to review agreement
before signing
- must get opportunity to ask
questions
Rights of Land - ANSWER -Fee Simple - freehold, absolute
owner of land
,Leasehold - interest in land expires with lease agreement
life estate - interest in land for
duration of life
- reverts to fee simple with
death
Dover Act - ANSWER -upon death non-titled spouse
acquired interest
- only applies if legally married and
matrimonial house
- dissolves with
divorce
Quantum Meruit - ANSWER -amount awarded by courts for
contractual work
done to
date
Essential Elements of a Contract - ANSWER -Legal object,
capacity of both parties, consideration, intent to contract,
genuine consent, mutual agreement
Discharged contract - ANSWER -was valid and has now ended
privity of contract - ANSWER -- legal actions can only be taken
by contracting
parties
,- only original parties are bound by
contract
Powers of Attorney - ANSWER -
General
- has no limits, can make financial and legal
decisions
- cannot make decisions about health care and
where they reside
Special
- specific/limited
powers
Immediate
- appoints an attorney to make financial/legal decisions
- terminates upon loss of mental capacity/death
Enduring
- takes effect immediately if donor becomes
incapable
Conditions precedent - ANSWER -- used in alberta
- party needs to waive or remove conditions for contract to
proceed
- must be waived for contract to proceed
, Bundle of rights - ANSWER -right to possess, use, enjoy and
sell the land
-
lease/rent
- sell/give
away
- enter/use/do
nothing
Land - ANSWER -includes physical ground
and air space
characteristics;
- durable, rigid, immobile,
unique, scarce
Real Estate vs Property vs Real Property - ANSWER
-Real estate
- Raw land + any improvements that are
permanent or fixed
Property
- rights of ownership,
intangible
Real
Property
- land, real estate, and
property rights
