RECA Exam Study Questions And Answers
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?
,RECA Exam Study Questions And Answers
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?
, RECA Exam Study Questions And Answers
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?
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?
,RECA Exam Study Questions And Answers
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?
, RECA Exam Study Questions And Answers
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?
