Practice of Property Management(RECA) Real Estate Council of Alberta MOST TESTED QUESTIONS WITH VERIFIED ANSWERS GRADED A+ 2025 | ASSURED SUCCESS !!

Practice of Property Management(RECA) Real Estate Council of
Alberta MOST TESTED QUESTIONS WITH VERIFIED ANSWERS
GRADED A+ 2025 | ASSURED SUCCESS !!




Shopping Centre vary in sizes from - ANSWER -30,000
Square feet to over
1,000,000 square
feet


Shopping Centre Classification - ANSWER -1. Neighbourhood
Centre; 30,000 to
100,000 quare feet. Trading area or ideal population served is
5,000 to 40,000


2. Community Centre: 85,000 to 230,00 square feet. Trading
population is 40,000
to
150,000


3. Regional Shopping Centre: 300,000 to 1,000,000 square feet.
Trading area
population is 150,000 to
400,000

,Monthly collection summary for a property manager who is
managing a shopping
Centre - ANSWER -1. Common Area
Maintenance Cost
2. Occupancy
Costs
3. Property
Taxes
4. Promotion fund
Contributions


What is leasehold interest - ANSWER -An Interest in real
estate for a definite
period of time. A leasehold interest runs with the land and binds
successor in title.


Commercial tenancies are governed by - ANSWER -Common Law


Types of Properties - ANSWER -1. Single Family Residential
2. Multi Family Residential: Low High, Mid Rise High Rise, Row

Housing
3. Cooperative

4. Condominium

5. Commercial

, Termination of Contract - ANSWER -Mutual
Agreement
Performance
Frustration
Operation of Law
Breach


Must Perpetual Frustrate Our Babies?


Remedies for Breach of Contract - ANSWER -1.
Monetary Damages
2.Quantum
Merit
3. Specific
Performance
4.Injuction


Creation of Agency - ANSWER -1.
Agreement
2. Operation of
law
3.
Estoppel