RECA Fundamentals Exam Actual
Questions and Answers 2026
Which of the following is NOT a RECA educational resource for
industry professionals? -
correct answer ✅Spatial Information System (Spin 2)
Who is responsible for producing the "Real Property Report"? -
correct answer ✅Alberta Land Surveyor
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 Fundamentals Exam Actual
Questions and Answers 2026
RECA provides the following annual reports -
correct answer ✅- financial reports
- industry statistics
- reports for the previous year
Who has the power to amend the Rules of the RE Act? -
correct answer ✅Council (not the Provincial Legislature, their job
is to amend the RE Act itself - two very different things)
Who has the power to suspend / revoke a license? -
correct answer ✅The Executive Director
- determines the length of suspension
- serves the decision on the industry professional
- will consider the evidence when making the decision
What's included in written service agreements? -
correct answer ✅- the services to be provided by the brokerage
- the responsibilities of each party to the agreement (i.e.
remuneration from client to brokerage)
,RECA Fundamentals Exam Actual
Questions and Answers 2026
- the names of the parties to the agreement
Failure to immediately notify Executive Director of changes to
information provided in support of license results in: -
correct answer ✅- Exec. Director may refer the matter for a
professional conduct review
- Exec. Director may suspend industry professionals license
- Exec. director may cancel the industry professionals license
Length of time a license is valid for if NOT registered w a brokerage
-
correct answer ✅36 months
Level of Disclosure: Other party represented by another brokerage -
correct answer ✅Level 1
Level of Disclosure: Other party not represented -
correct answer ✅Level 2
Level of Disclosure: Other party represented by same brokerage -
correct answer ✅Level 3
, RECA Fundamentals Exam Actual
Questions and Answers 2026
Inducement vs incentives -
correct answer ✅- Inducement is client specific
- Incentive is offered by the brokerage to any potential client
Records must be: -
correct answer ✅- kept in Alberta
- maintained in electronic form
- kept by brokerage for 3 years
- accessible to RECA for inspection
- they can be held in multiple locations, provided they're all in
Alberta
Personal Ethics -
correct answer ✅Morals - held by individual
Ethics - Standard of Conduct (values/beliefs that guide actions)
Professional Standards - Rules and Regulations
Real Estate Insurance Exchange (REIX) -
correct answer ✅- provides financial protection
- compensates consumers up to $35,000
Questions and Answers 2026
Which of the following is NOT a RECA educational resource for
industry professionals? -
correct answer ✅Spatial Information System (Spin 2)
Who is responsible for producing the "Real Property Report"? -
correct answer ✅Alberta Land Surveyor
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 Fundamentals Exam Actual
Questions and Answers 2026
RECA provides the following annual reports -
correct answer ✅- financial reports
- industry statistics
- reports for the previous year
Who has the power to amend the Rules of the RE Act? -
correct answer ✅Council (not the Provincial Legislature, their job
is to amend the RE Act itself - two very different things)
Who has the power to suspend / revoke a license? -
correct answer ✅The Executive Director
- determines the length of suspension
- serves the decision on the industry professional
- will consider the evidence when making the decision
What's included in written service agreements? -
correct answer ✅- the services to be provided by the brokerage
- the responsibilities of each party to the agreement (i.e.
remuneration from client to brokerage)
,RECA Fundamentals Exam Actual
Questions and Answers 2026
- the names of the parties to the agreement
Failure to immediately notify Executive Director of changes to
information provided in support of license results in: -
correct answer ✅- Exec. Director may refer the matter for a
professional conduct review
- Exec. Director may suspend industry professionals license
- Exec. director may cancel the industry professionals license
Length of time a license is valid for if NOT registered w a brokerage
-
correct answer ✅36 months
Level of Disclosure: Other party represented by another brokerage -
correct answer ✅Level 1
Level of Disclosure: Other party not represented -
correct answer ✅Level 2
Level of Disclosure: Other party represented by same brokerage -
correct answer ✅Level 3
, RECA Fundamentals Exam Actual
Questions and Answers 2026
Inducement vs incentives -
correct answer ✅- Inducement is client specific
- Incentive is offered by the brokerage to any potential client
Records must be: -
correct answer ✅- kept in Alberta
- maintained in electronic form
- kept by brokerage for 3 years
- accessible to RECA for inspection
- they can be held in multiple locations, provided they're all in
Alberta
Personal Ethics -
correct answer ✅Morals - held by individual
Ethics - Standard of Conduct (values/beliefs that guide actions)
Professional Standards - Rules and Regulations
Real Estate Insurance Exchange (REIX) -
correct answer ✅- provides financial protection
- compensates consumers up to $35,000
