RECA EXAM STUDY EXAM
QUESTIONS & ACCURATE ANSWERS
PASSED 100% LATEST VERSION
Disclosure level 1 - Correct Answer ✔✔ Carl, a real estate professional, is registered
with Prime Plus Real Estate Ltd. He has listed his brother's house for sale with the
brokerage. A real estate professional with another brokerage contacts Carl and asks to
preview the property as she has a potential buyer. What level of disclosure must Carl
provide?
Others tell you that you have an ethical dilemma - Correct Answer ✔✔ When evaluating
an ethical dilemma, the first step is awareness. An individual may become aware of an
ethical dilemma through a variety of ways. Which one of the following is typically NOT
one of the ways?
It continues without a time limit after real estate services are no longer provided -
Correct Answer ✔✔ Which of the following statements is correct regarding the length of
time that real estate professionals are obligated to keep client information confidential?
Any instruction that is reasonable and ordinary under the circumstances - Correct
Answer ✔✔ Which of the following describes what is meant by a lawful instruction?
Express Authority - Correct Answer ✔✔ Which of the following types of authority involve
describing (orally or in writing) the actions that may be taken by an agent on behalf of a
principal?
Third Party - Correct Answer ✔✔ Which of the following describes the party that exists
outside of a representation relationship?
Functional Authority - Correct Answer ✔✔ Which of the following is NOT a type of
authority an agent may hold?
Real Estate Brokerages - Correct Answer ✔✔ Which of the following are the only
entities authorized to trade in real estate?
Property Management Services - Correct Answer ✔✔ Which of the following categories
of brokerage services involves numerous services that require the greatest level of
discretion or judgement?
Consideration always involves money - Correct Answer ✔✔ Which of the following does
NOT apply to consideration?
, Conditions must be waived for the contract to proceed, while a contract can still proceed
with unmet terms - Correct Answer ✔✔ What is the difference between a condition and
a term in a contract?
The contract must be in written form to be enforceable - Correct Answer ✔✔ Which of
the following is NOT an essential element of a contract?
The contract may be voidable - Correct Answer ✔✔ The Ogami's have just completed
their first English language course. They want to start a family business and take out a
mortgage on their small townhouse to get funds for the business. However the business
fails and they must repay the mortgage. Since the Ogami's struggle with English, they
did not understand the mortgage contract. If they challenge the contract, what term
describes the possible result?
Pricing - Correct Answer ✔✔ Which of the following is NOT characteristic of value in
relation to a commodity?
Which of the following Professional Conduct Review outcomes is issued as a practice
guideline for a technical breach of the legislation? - Correct Answer ✔✔ Advisory Note
Which of the following statements is correct regarding the Real Estate Act Rules?
The Rules may only be amended by the provincial legislature
RECA posts the most current version of the Rules on its website
The Rules refer to the standards of practice for industry professionals
When contemplating amendments to the Rules, RECA consults with industry
professionals and stakeholders - Correct Answer ✔✔ B) Statements II, III and IV
Which of the following is NOT a type of reaction associated with conflicts or disputes? -
Correct Answer ✔✔ Social Reaction
Which of the following is the provincial privacy legislation in Alberta? - Correct Answer
✔✔ Personal Information Protection Act
In terms of the brokerage, what are the 3 components of leadership that relate to the
broker? - Correct Answer ✔✔ Authority, responsibility and accountability
Which of the following best describes a written acknowledgement? - Correct Answer
✔✔ It should state that the consumer received and understands the written disclosure
made by a real estate professional
Which of the following types of authority allow an agent to act according to the usual
ways of performing an action as established by the profession? - Correct Answer ✔✔
Customary authority
Which of the following responsibilities do real estate professionals owe customers? -
Correct Answer ✔✔ Only some general obligations
QUESTIONS & ACCURATE ANSWERS
PASSED 100% LATEST VERSION
Disclosure level 1 - Correct Answer ✔✔ Carl, a real estate professional, is registered
with Prime Plus Real Estate Ltd. He has listed his brother's house for sale with the
brokerage. A real estate professional with another brokerage contacts Carl and asks to
preview the property as she has a potential buyer. What level of disclosure must Carl
provide?
Others tell you that you have an ethical dilemma - Correct Answer ✔✔ When evaluating
an ethical dilemma, the first step is awareness. An individual may become aware of an
ethical dilemma through a variety of ways. Which one of the following is typically NOT
one of the ways?
It continues without a time limit after real estate services are no longer provided -
Correct Answer ✔✔ Which of the following statements is correct regarding the length of
time that real estate professionals are obligated to keep client information confidential?
Any instruction that is reasonable and ordinary under the circumstances - Correct
Answer ✔✔ Which of the following describes what is meant by a lawful instruction?
Express Authority - Correct Answer ✔✔ Which of the following types of authority involve
describing (orally or in writing) the actions that may be taken by an agent on behalf of a
principal?
Third Party - Correct Answer ✔✔ Which of the following describes the party that exists
outside of a representation relationship?
Functional Authority - Correct Answer ✔✔ Which of the following is NOT a type of
authority an agent may hold?
Real Estate Brokerages - Correct Answer ✔✔ Which of the following are the only
entities authorized to trade in real estate?
Property Management Services - Correct Answer ✔✔ Which of the following categories
of brokerage services involves numerous services that require the greatest level of
discretion or judgement?
Consideration always involves money - Correct Answer ✔✔ Which of the following does
NOT apply to consideration?
, Conditions must be waived for the contract to proceed, while a contract can still proceed
with unmet terms - Correct Answer ✔✔ What is the difference between a condition and
a term in a contract?
The contract must be in written form to be enforceable - Correct Answer ✔✔ Which of
the following is NOT an essential element of a contract?
The contract may be voidable - Correct Answer ✔✔ The Ogami's have just completed
their first English language course. They want to start a family business and take out a
mortgage on their small townhouse to get funds for the business. However the business
fails and they must repay the mortgage. Since the Ogami's struggle with English, they
did not understand the mortgage contract. If they challenge the contract, what term
describes the possible result?
Pricing - Correct Answer ✔✔ Which of the following is NOT characteristic of value in
relation to a commodity?
Which of the following Professional Conduct Review outcomes is issued as a practice
guideline for a technical breach of the legislation? - Correct Answer ✔✔ Advisory Note
Which of the following statements is correct regarding the Real Estate Act Rules?
The Rules may only be amended by the provincial legislature
RECA posts the most current version of the Rules on its website
The Rules refer to the standards of practice for industry professionals
When contemplating amendments to the Rules, RECA consults with industry
professionals and stakeholders - Correct Answer ✔✔ B) Statements II, III and IV
Which of the following is NOT a type of reaction associated with conflicts or disputes? -
Correct Answer ✔✔ Social Reaction
Which of the following is the provincial privacy legislation in Alberta? - Correct Answer
✔✔ Personal Information Protection Act
In terms of the brokerage, what are the 3 components of leadership that relate to the
broker? - Correct Answer ✔✔ Authority, responsibility and accountability
Which of the following best describes a written acknowledgement? - Correct Answer
✔✔ It should state that the consumer received and understands the written disclosure
made by a real estate professional
Which of the following types of authority allow an agent to act according to the usual
ways of performing an action as established by the profession? - Correct Answer ✔✔
Customary authority
Which of the following responsibilities do real estate professionals owe customers? -
Correct Answer ✔✔ Only some general obligations
