RECA – RESIDENTIAL EXAM QUESTIONS AND ANSWERS
2025/2026
Self regulation - ----Answers-----General obligation
-Care & Skill
-Act honestly
-Negotiate favorable terms
-Maintain confidentiality
-Disclose information
-Act in person
-Obey lawful instructions
-Perform mandate
Brokerage interests - ----Answers----Interest of brokerage at odds
with brokerage client
Fiduciary duties - ----Answers-----Utmost loyalty
-Not to make secret profits
-Maintain confidentiality
-To account
-Avoid and disclose conflicts of interest
Competing interests - ----Answers----Interest of brokerage clients
compete in a transaction or potential transaction
,Opposing interests - ----Answers----Interest of brokerage clients
oppose in the same transaction or potential transaction
Standard of care - ----Answers-----Professional standards
-Professional norms/practices
-Expert testimony
-Benefits of role clarity/consistency
-Meeting regulatory requirements
-Enhances professionalism
-Prevents unintended relationships
-Clarifies responsibilities and services to consumers
-Reduces disputes
PIPEDA - ----Answers----Federal - privacy act
PIPA - ----Answers----Provincial - Privacy act
CASL - ----Answers----Canada's anti spam legislation - federal
Privacy principles - ----Answers-----Accountability
-Identifying purposes
-Consent
-Limiting collection
-Limiting use, disclosure, retention
-Accuracy
,-Safeguards of data protection
-Openness
-Individual access
-Challenging compliance
Seller's confidential info - ----Answers-----Reason of property sale
-Motivation regarding sale
-Price seller will accept for sale
-Offers received by seller
Buyer's confidential info - ----Answers-----Reason for purchase of
property
-Motivation to purchase
-Price willing to pay for property
-Offers submitted
Trustee - ----Answers----Legally appointed person to hold assets for
benefits of one or more persons. Trust agreements set out terms of
trustee's powers and duties.
Executors - ----Answers----Person who receives title of property when
owner of the property is deceased.
Development permits - ----Answers-----Used for new subdivisions.
-Authorizes location, size and use of building.
, Building permits - ----Answers-----Used for new residential buildings.
-Valid for one year in which building must proceed.
-ABC establishes technical specifications for new buildings.
Occupancy permits - ----Answers-----Used for new residential
buildings. Builder must secure permit before residence is approved
for occupation by purchaser.
Subsequent building permits - ----Answers-----Used to change
existing buildings.
-Required for new additions, demo or relocation, Major alterations or
renovation, supplemental structure.
Concepts of residential construction - ----Answers-----Technology
-Sustainability
-Accessibility
-Adaptability
Technology - ----Answers-----the process of implementing single
application to operate multiple functions of a property
Sustainability - ----Answers-----Use and recycling of materials used in
construction
Accessibility - ----Answers-----Individuals ability to access a
building, move within and independence without barriers. IE Ramps,
lifts elevators.
2025/2026
Self regulation - ----Answers-----General obligation
-Care & Skill
-Act honestly
-Negotiate favorable terms
-Maintain confidentiality
-Disclose information
-Act in person
-Obey lawful instructions
-Perform mandate
Brokerage interests - ----Answers----Interest of brokerage at odds
with brokerage client
Fiduciary duties - ----Answers-----Utmost loyalty
-Not to make secret profits
-Maintain confidentiality
-To account
-Avoid and disclose conflicts of interest
Competing interests - ----Answers----Interest of brokerage clients
compete in a transaction or potential transaction
,Opposing interests - ----Answers----Interest of brokerage clients
oppose in the same transaction or potential transaction
Standard of care - ----Answers-----Professional standards
-Professional norms/practices
-Expert testimony
-Benefits of role clarity/consistency
-Meeting regulatory requirements
-Enhances professionalism
-Prevents unintended relationships
-Clarifies responsibilities and services to consumers
-Reduces disputes
PIPEDA - ----Answers----Federal - privacy act
PIPA - ----Answers----Provincial - Privacy act
CASL - ----Answers----Canada's anti spam legislation - federal
Privacy principles - ----Answers-----Accountability
-Identifying purposes
-Consent
-Limiting collection
-Limiting use, disclosure, retention
-Accuracy
,-Safeguards of data protection
-Openness
-Individual access
-Challenging compliance
Seller's confidential info - ----Answers-----Reason of property sale
-Motivation regarding sale
-Price seller will accept for sale
-Offers received by seller
Buyer's confidential info - ----Answers-----Reason for purchase of
property
-Motivation to purchase
-Price willing to pay for property
-Offers submitted
Trustee - ----Answers----Legally appointed person to hold assets for
benefits of one or more persons. Trust agreements set out terms of
trustee's powers and duties.
Executors - ----Answers----Person who receives title of property when
owner of the property is deceased.
Development permits - ----Answers-----Used for new subdivisions.
-Authorizes location, size and use of building.
, Building permits - ----Answers-----Used for new residential buildings.
-Valid for one year in which building must proceed.
-ABC establishes technical specifications for new buildings.
Occupancy permits - ----Answers-----Used for new residential
buildings. Builder must secure permit before residence is approved
for occupation by purchaser.
Subsequent building permits - ----Answers-----Used to change
existing buildings.
-Required for new additions, demo or relocation, Major alterations or
renovation, supplemental structure.
Concepts of residential construction - ----Answers-----Technology
-Sustainability
-Accessibility
-Adaptability
Technology - ----Answers-----the process of implementing single
application to operate multiple functions of a property
Sustainability - ----Answers-----Use and recycling of materials used in
construction
Accessibility - ----Answers-----Individuals ability to access a
building, move within and independence without barriers. IE Ramps,
lifts elevators.
