1
RECA FUNDAMENTALS EXAM
QUESTIONS AND VERIFIED ANSWERS
2026 (GRADED A+)
Which of the following is NOT a RECA educational resource for industry
professionals? - correct-answer -Spatial Information System (Spin 2)
Which entity has the authority to amend the Real Estate Act - correct-answer -
Provincial Legislature
Which of the following measures the change in a cost of a fixed basket of goods
and services purchased by families over a period of time - correct-answer -
Consumer Price Index (CPI)
Which of the following will occur to the supply of a good when there is a change
in quantity supplied due to a price increase? - correct-answer -an increase in
quantity supplied
, 2
Microeconics - correct-answer -studies the basic theories of supply and demand
as it relates to individuals, households and firms
Resource Markets - correct-answer -facilitate the exchange of factors of
production
What causes the quantity demanded to shift? - correct-answer -change in tastes,
expectations, and number of consumers
benefits of economic growth - correct-answer -depletion of natural resources
Real Property Report - correct-answer -document produced by Alberta Land
Surveyor
Which of the following is not a non-price determinant of demand - correct-answer
-cost of production
What type of economy does Canada have? - correct-answer -mixed economy
, 3
Benefits of RECAS trust assurance and practice review program - correct-answer --
effective record keeping and administrative procedures
- education and advice in relation to brokerage trust accounting
- identifies and resolves potential problems regarding brokerage trust accounting
requirements
Responsibilities of RECA - correct-answer -- Handling professional conduct review
- establishing industry standards of practice
- issuing authorization to trade in real estate
Four factors of production - correct-answer -land, labor, capital, entrepreneurship
RECA provides the following annual reports - correct-answer -- financial reports
- industry statistics
- reports for the previous year
The structure of real estate in Alberta includes; - correct-answer -- local real estate
boards
- alberta real estate association
, 4
- canadian real estate association
Referral definition - correct-answer -The act of recommending or directing a
person for service to another person or business
- brokerage is responsible for paying and receiving remuneration in connection to
trade
RECAS professional conduct review Objects - correct-answer -- gather all relevant
information
- treat parties fairly
-gather information efficiently
Amendments to the Act - correct-answer -- can be made by provincial legislature
with recommendations by the Minister of Service Alberta
Amendments to the rules - correct-answer -The rules contain the day to day
activities
- council has the authority to create and amend
RECA FUNDAMENTALS EXAM
QUESTIONS AND VERIFIED ANSWERS
2026 (GRADED A+)
Which of the following is NOT a RECA educational resource for industry
professionals? - correct-answer -Spatial Information System (Spin 2)
Which entity has the authority to amend the Real Estate Act - correct-answer -
Provincial Legislature
Which of the following measures the change in a cost of a fixed basket of goods
and services purchased by families over a period of time - correct-answer -
Consumer Price Index (CPI)
Which of the following will occur to the supply of a good when there is a change
in quantity supplied due to a price increase? - correct-answer -an increase in
quantity supplied
, 2
Microeconics - correct-answer -studies the basic theories of supply and demand
as it relates to individuals, households and firms
Resource Markets - correct-answer -facilitate the exchange of factors of
production
What causes the quantity demanded to shift? - correct-answer -change in tastes,
expectations, and number of consumers
benefits of economic growth - correct-answer -depletion of natural resources
Real Property Report - correct-answer -document produced by Alberta Land
Surveyor
Which of the following is not a non-price determinant of demand - correct-answer
-cost of production
What type of economy does Canada have? - correct-answer -mixed economy
, 3
Benefits of RECAS trust assurance and practice review program - correct-answer --
effective record keeping and administrative procedures
- education and advice in relation to brokerage trust accounting
- identifies and resolves potential problems regarding brokerage trust accounting
requirements
Responsibilities of RECA - correct-answer -- Handling professional conduct review
- establishing industry standards of practice
- issuing authorization to trade in real estate
Four factors of production - correct-answer -land, labor, capital, entrepreneurship
RECA provides the following annual reports - correct-answer -- financial reports
- industry statistics
- reports for the previous year
The structure of real estate in Alberta includes; - correct-answer -- local real estate
boards
- alberta real estate association
, 4
- canadian real estate association
Referral definition - correct-answer -The act of recommending or directing a
person for service to another person or business
- brokerage is responsible for paying and receiving remuneration in connection to
trade
RECAS professional conduct review Objects - correct-answer -- gather all relevant
information
- treat parties fairly
-gather information efficiently
Amendments to the Act - correct-answer -- can be made by provincial legislature
with recommendations by the Minister of Service Alberta
Amendments to the rules - correct-answer -The rules contain the day to day
activities
- council has the authority to create and amend
