RECA Practice Exam Questions and
Answers with Complete Solutions
Meridians and ranges are ✔✔Longitudal lines
condominium (condo) ✔✔form of ownership with the owners holding legal title to their own
housing unit among many, with common grounds and facilities shared ownership
cooperatives (co-ops) ✔✔-buildings owned by corporations with the residents as shareholders
who each receive a properietary lease on an individual unit and the right to use common areas
Regarding condos- Individual owners have title to specific units in the complex. True or false
✔✔True
Title Insurance ✔✔a type of insurance that protects the lender and property owners from title
fraud or forgery.
Opt-out consent ✔✔An individual is given the option to decline consent. If the individual does
not clearly decline consent, consent is granted
Answers with Complete Solutions
Meridians and ranges are ✔✔Longitudal lines
condominium (condo) ✔✔form of ownership with the owners holding legal title to their own
housing unit among many, with common grounds and facilities shared ownership
cooperatives (co-ops) ✔✔-buildings owned by corporations with the residents as shareholders
who each receive a properietary lease on an individual unit and the right to use common areas
Regarding condos- Individual owners have title to specific units in the complex. True or false
✔✔True
Title Insurance ✔✔a type of insurance that protects the lender and property owners from title
fraud or forgery.
Opt-out consent ✔✔An individual is given the option to decline consent. If the individual does
not clearly decline consent, consent is granted
