RECA Exam Questions & Answers
(Grade A+)
Lola start her busy day with a task list. Which following tasks should
she consider scheduling for a later time? -
correct answer ✅Managing social media and online presence
Licensee Elliel's buyer client wants to submit an offer with no
conditions on an appealing house after a year-long search . What is
Eliel's responsibility? -
correct answer ✅Inform the client about the risks of condition-
free offer
From a brokerage perspective, which mortgage fraud prevention
practices should be in places?
I. Implementing training on RECA's mortgage fraud red flags
detection and prevention
II. Implement training on the offices policies and procedure for
mortgages fraud detection and prevention
III. Submit the office policies and procedures for mortgage fraud
detection and prevention to RECA for review.
IV. Regularly review and update the office policies an procedures for
mortgage fraud detection and prevention. -
correct answer ✅I, II, and IV
, RECA Exam Questions & Answers
(Grade A+)
Why the Statue of Frauds require certain contracts be in writing? -
correct answer ✅Written contracts are easier to prove and
enforce.
What is the potential drawback of submitting a low ball offer in
negotiations? -
correct answer ✅It may insult the seller and jeopardize
negotiations
Victor is a licensee representing Lindsey. Victor receives a call from
a prospective buyer who would be interested in viewing the
property. Lindsey gives victor instructions to refuse the property,
and explains that due to political climate, she would not feel
comfortable in selling her property to with the buyer's nationality.
What should be Victor do? -
correct answer ✅Explain to Lindsey that what she is instructing is
housing discrimination.
The seller: -
correct answer ✅Is in control in a multiple offer situation
Under the Residential Tenancies Act, when can a landlord enter a
tenant's leased premises without consent or notice?
(Grade A+)
Lola start her busy day with a task list. Which following tasks should
she consider scheduling for a later time? -
correct answer ✅Managing social media and online presence
Licensee Elliel's buyer client wants to submit an offer with no
conditions on an appealing house after a year-long search . What is
Eliel's responsibility? -
correct answer ✅Inform the client about the risks of condition-
free offer
From a brokerage perspective, which mortgage fraud prevention
practices should be in places?
I. Implementing training on RECA's mortgage fraud red flags
detection and prevention
II. Implement training on the offices policies and procedure for
mortgages fraud detection and prevention
III. Submit the office policies and procedures for mortgage fraud
detection and prevention to RECA for review.
IV. Regularly review and update the office policies an procedures for
mortgage fraud detection and prevention. -
correct answer ✅I, II, and IV
, RECA Exam Questions & Answers
(Grade A+)
Why the Statue of Frauds require certain contracts be in writing? -
correct answer ✅Written contracts are easier to prove and
enforce.
What is the potential drawback of submitting a low ball offer in
negotiations? -
correct answer ✅It may insult the seller and jeopardize
negotiations
Victor is a licensee representing Lindsey. Victor receives a call from
a prospective buyer who would be interested in viewing the
property. Lindsey gives victor instructions to refuse the property,
and explains that due to political climate, she would not feel
comfortable in selling her property to with the buyer's nationality.
What should be Victor do? -
correct answer ✅Explain to Lindsey that what she is instructing is
housing discrimination.
The seller: -
correct answer ✅Is in control in a multiple offer situation
Under the Residential Tenancies Act, when can a landlord enter a
tenant's leased premises without consent or notice?
