RECA - Fundamentals Study Guide
Unit 6 Quiz (Weighted 7%) Exam
Actual Questions and Answers 2026
What kind of law is the Real Estate Act? -
correct answer ✅Statute Law
Case law -
correct answer ✅Accumulated decisions in laws made by the
courts, higher courts can alter decisions in lower courts.
Common law -
correct answer ✅Historical customs and accumulated court
decisions to become law. Also includes case law
Statute Law -
correct answer ✅Regulations enacted by the different levels of
government
Real Estate Act -
correct answer ✅Statute law defining regulatory responsibilities
Fee Simple -
correct answer ✅Absolute ownership of land subject to the
interest of government
, RECA - Fundamentals Study Guide
Unit 6 Quiz (Weighted 7%) Exam
Actual Questions and Answers 2026
Leasehold -
correct answer ✅Interests in land by virtue of agreement between
parties
Life Estate -
correct answer ✅Interest in land for the duration of one's lifetime
Statute of Frauds -
correct answer ✅Contracts must be in writing for sale/purchase
Dower Act -
correct answer ✅If spouse married and life together before in
home, untitled spouse has life interest in it
Real Estate -
correct answer ✅An interest in land or rights to the land
Bundle of Rights -
correct answer ✅Possession, use, enjoyment, and sale of land
Unit 6 Quiz (Weighted 7%) Exam
Actual Questions and Answers 2026
What kind of law is the Real Estate Act? -
correct answer ✅Statute Law
Case law -
correct answer ✅Accumulated decisions in laws made by the
courts, higher courts can alter decisions in lower courts.
Common law -
correct answer ✅Historical customs and accumulated court
decisions to become law. Also includes case law
Statute Law -
correct answer ✅Regulations enacted by the different levels of
government
Real Estate Act -
correct answer ✅Statute law defining regulatory responsibilities
Fee Simple -
correct answer ✅Absolute ownership of land subject to the
interest of government
, RECA - Fundamentals Study Guide
Unit 6 Quiz (Weighted 7%) Exam
Actual Questions and Answers 2026
Leasehold -
correct answer ✅Interests in land by virtue of agreement between
parties
Life Estate -
correct answer ✅Interest in land for the duration of one's lifetime
Statute of Frauds -
correct answer ✅Contracts must be in writing for sale/purchase
Dower Act -
correct answer ✅If spouse married and life together before in
home, untitled spouse has life interest in it
Real Estate -
correct answer ✅An interest in land or rights to the land
Bundle of Rights -
correct answer ✅Possession, use, enjoyment, and sale of land
