RECA Exam Study Questions and Answers
100 % Pass
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?
Disclosure level 1
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?
Others tell you that you have an ethical dilemma
Which of the following statements is correct regarding the length of time that real
estate professionals are obligated to keep client information confidential?
It continues without a time limit after real estate services are no longer provided
Which of the following describes what is meant by a lawful instruction?
Any instruction that is reasonable and ordinary under the circumstances
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?
Express Authority
Which of the following describes the party that exists outside of a representation
relationship?
Third Party
Which of the following is NOT a type of authority an agent may hold?
Functional Authority
Which of the following are the only entities authorized to trade in real estate?
Real Estate Brokerages
, Which of the following categories of brokerage services involves numerous
services that require the greatest level of discretion or judgement?
Property Management Services
Which of the following does NOT apply to consideration?
Consideration always involves money
What is the difference between a condition and a term in a contract?
Conditions must be waived for the contract to proceed, while a contract can still proceed
with unmet terms
Which of the following is NOT an essential element of a contract?
The contract must be in written form to be enforceable
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?
The contract may be voidable
Which of the following is NOT characteristic of value in relation to a commodity?
Pricing
Advisory Note
Which of the following Professional Conduct Review outcomes is issued as a practice
guideline for a technical breach of the legislation?
B) Statements II, III and IV
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
Social Reaction
Which of the following is NOT a type of reaction associated with conflicts or disputes?
100 % Pass
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?
Disclosure level 1
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?
Others tell you that you have an ethical dilemma
Which of the following statements is correct regarding the length of time that real
estate professionals are obligated to keep client information confidential?
It continues without a time limit after real estate services are no longer provided
Which of the following describes what is meant by a lawful instruction?
Any instruction that is reasonable and ordinary under the circumstances
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?
Express Authority
Which of the following describes the party that exists outside of a representation
relationship?
Third Party
Which of the following is NOT a type of authority an agent may hold?
Functional Authority
Which of the following are the only entities authorized to trade in real estate?
Real Estate Brokerages
, Which of the following categories of brokerage services involves numerous
services that require the greatest level of discretion or judgement?
Property Management Services
Which of the following does NOT apply to consideration?
Consideration always involves money
What is the difference between a condition and a term in a contract?
Conditions must be waived for the contract to proceed, while a contract can still proceed
with unmet terms
Which of the following is NOT an essential element of a contract?
The contract must be in written form to be enforceable
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?
The contract may be voidable
Which of the following is NOT characteristic of value in relation to a commodity?
Pricing
Advisory Note
Which of the following Professional Conduct Review outcomes is issued as a practice
guideline for a technical breach of the legislation?
B) Statements II, III and IV
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
Social Reaction
Which of the following is NOT a type of reaction associated with conflicts or disputes?
