Unit 2: Real Estate Act, Rules, and
Regulations Exam Actual Questions
and Answers 2026
Real Estate Act -
correct answer ✅provincial legislation that establishes the
framework for regulating the real estate, mortgage brokerage, and
real estate appraisal professions in Alberta; only amended by
provincial legislature; provides mechanisms for self-regulation
4 Components of the Real Estate Act -
correct answer ✅1. The Act - statute enacted by the provincial
legislature and responsibility of the Minister of Service Alberta
2. The Rules - standards of practice for industry professionals and
estabished/amended by the Council
3. The Regulations - amendments/interpretations to sections of the
Act and are made by the Minister or Lieutenant Governor in Council
4. The Bylaws - guidelines that the Council adopts for its
governance and other administrative functions
Overview of the Real Estate Act -
correct answer ✅1. Part 1 - RECA, defining its purpose and powers
2. Part 2 - Regulation of Business of an Industry Member,
Commission issues, Requirement for Trust accounts and Record
keeping
,Unit 2: Real Estate Act, Rules, and
Regulations Exam Actual Questions
and Answers 2026
3. Part 3 - Conduct of Industry Members Proceedings Deals,
investigations, hearings, appeals
4. Part 4 - Real Estate Assurance Fund, RECA's administration of the
fund, Ministerial Regulation/Bylaws of the Fund
5. Part 5 - Alberta Real Estate Foundation established education to
advance and promote industry professionals
6. Part 6 - General Provides guidelines on Council Orders
Amendments to the Act -
correct answer ✅1. Amendment is made by provincial legislature
on recommendation by the Minister of Service Alberta
2. Proposed amendment is discussed and passed by provincial
legislature before it comes into effect
3. 3 readings are done prior to legislation being passed into law
4. Amendment to the Act only comes into effect once it is officially
proclaimed by the Lieutenant Governor in Council
The Rules -
correct answer ✅contain most of the requirements that affect
industry professionals when carrying out day-to-day tasks, Council
can create/amend the Rules through industry
,Unit 2: Real Estate Act, Rules, and
Regulations Exam Actual Questions
and Answers 2026
consultations/stakeholder discussions, allows council to adapt
quickly and address potential issues in the marketplace
The Regulations -
correct answer ✅When cabinet has passed new regulations, the
Lieutenant Governor will sign an "Order in Council" with an
effective date for the legislation
Types of Regulation -
correct answer ✅1. Ministerial Regulations - set policy in regards
to the organization/administration of the Alberta Real Estate
Foundation and the Real Estate Assurance Fund
2. Exemption Regulations - Grant certain persons' exemption from
the Act
Purposes of RECA -
correct answer ✅1. Set and enforce standards of conduct for the
industry and the business of industry professionals that promote
integrity, protect against, investigate, and suppress mortgage fraud,
and protect consumers
2. Provide services that enhance and improve the industry
/business of industry professionals
, Unit 2: Real Estate Act, Rules, and
Regulations Exam Actual Questions
and Answers 2026
3. Administer the Act as provided in the Act, the Rules, the
Regulations, and the Bylaws
Information Bullets -
correct answer ✅provides industry professionals with an
understanding of the Act and the Rules as they relate to the
practice of industry professionals; assist industry professionals with
legislative compliance; reduce the potential for consumer
complains and conduct proceedings; provide short easy to read
explanations of the Act or the Rules; existing information bulletins
are updated on a regular basis and are developed as needed; can
be found on the RECA website
RECA Practice Guides -
correct answer ✅intented to assist industry professionals with
their legislative compliance and reduce the potential for consumer
complains/conduct proceedings; more detailed/comprehensive
than the information Bulletins; found on the RECA Website
Office of the Registrar -
correct answer ✅oversee's all licence applications, including new
licenses, license renewals, and licence information reviews
Regulations Exam Actual Questions
and Answers 2026
Real Estate Act -
correct answer ✅provincial legislation that establishes the
framework for regulating the real estate, mortgage brokerage, and
real estate appraisal professions in Alberta; only amended by
provincial legislature; provides mechanisms for self-regulation
4 Components of the Real Estate Act -
correct answer ✅1. The Act - statute enacted by the provincial
legislature and responsibility of the Minister of Service Alberta
2. The Rules - standards of practice for industry professionals and
estabished/amended by the Council
3. The Regulations - amendments/interpretations to sections of the
Act and are made by the Minister or Lieutenant Governor in Council
4. The Bylaws - guidelines that the Council adopts for its
governance and other administrative functions
Overview of the Real Estate Act -
correct answer ✅1. Part 1 - RECA, defining its purpose and powers
2. Part 2 - Regulation of Business of an Industry Member,
Commission issues, Requirement for Trust accounts and Record
keeping
,Unit 2: Real Estate Act, Rules, and
Regulations Exam Actual Questions
and Answers 2026
3. Part 3 - Conduct of Industry Members Proceedings Deals,
investigations, hearings, appeals
4. Part 4 - Real Estate Assurance Fund, RECA's administration of the
fund, Ministerial Regulation/Bylaws of the Fund
5. Part 5 - Alberta Real Estate Foundation established education to
advance and promote industry professionals
6. Part 6 - General Provides guidelines on Council Orders
Amendments to the Act -
correct answer ✅1. Amendment is made by provincial legislature
on recommendation by the Minister of Service Alberta
2. Proposed amendment is discussed and passed by provincial
legislature before it comes into effect
3. 3 readings are done prior to legislation being passed into law
4. Amendment to the Act only comes into effect once it is officially
proclaimed by the Lieutenant Governor in Council
The Rules -
correct answer ✅contain most of the requirements that affect
industry professionals when carrying out day-to-day tasks, Council
can create/amend the Rules through industry
,Unit 2: Real Estate Act, Rules, and
Regulations Exam Actual Questions
and Answers 2026
consultations/stakeholder discussions, allows council to adapt
quickly and address potential issues in the marketplace
The Regulations -
correct answer ✅When cabinet has passed new regulations, the
Lieutenant Governor will sign an "Order in Council" with an
effective date for the legislation
Types of Regulation -
correct answer ✅1. Ministerial Regulations - set policy in regards
to the organization/administration of the Alberta Real Estate
Foundation and the Real Estate Assurance Fund
2. Exemption Regulations - Grant certain persons' exemption from
the Act
Purposes of RECA -
correct answer ✅1. Set and enforce standards of conduct for the
industry and the business of industry professionals that promote
integrity, protect against, investigate, and suppress mortgage fraud,
and protect consumers
2. Provide services that enhance and improve the industry
/business of industry professionals
, Unit 2: Real Estate Act, Rules, and
Regulations Exam Actual Questions
and Answers 2026
3. Administer the Act as provided in the Act, the Rules, the
Regulations, and the Bylaws
Information Bullets -
correct answer ✅provides industry professionals with an
understanding of the Act and the Rules as they relate to the
practice of industry professionals; assist industry professionals with
legislative compliance; reduce the potential for consumer
complains and conduct proceedings; provide short easy to read
explanations of the Act or the Rules; existing information bulletins
are updated on a regular basis and are developed as needed; can
be found on the RECA website
RECA Practice Guides -
correct answer ✅intented to assist industry professionals with
their legislative compliance and reduce the potential for consumer
complains/conduct proceedings; more detailed/comprehensive
than the information Bulletins; found on the RECA Website
Office of the Registrar -
correct answer ✅oversee's all licence applications, including new
licenses, license renewals, and licence information reviews
