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RECA RESIDENTIAL EXAM ACTUAL EXAM 200+
QUESTIONS AND DETAILED ANSWERS
VERIFIED ANSWERS ALREADY GRADED A
The council structure of Municipal districts include one councilor per ward, one of whom is
elected by council as the "Reeve" or administrator
Rural utility association has five or more people
- main purpose to supply its members utility services for electricity, gas, or water
Population numbers - CORRECT ANSWER>>- 18 Cities must have 10,000 people (mayor + even
number of councilors)
- 108 towns must have 1,000 (6 councilors + mayor)
- 87 Villages must have 300 (3 councilors including mayor)
- 51 summer villages, can no longer be created
natural water sources (6) - CORRECT ANSWER>>Surface water, rivers, river basins and
watersheds, lakes, wetlands, and springs
confined vs unconfined aquifer - CORRECT ANSWER>>confined - lies between layers of
impermeable materials, fully saturated with ground water
unconfined - also called water table, upper water surface is at atmospheric pressure
water - CORRECT ANSWER>>- be used in best manner
- support eco system
- ensure supplies are naturally replenished
- maintained and withdrawals do not exceed replenish rate
- Water Act governs
- need a water license, runs with land
- can use 1250 cubic meters or 275,000 gallons
Fiduciary Representation - CORRECT ANSWER>>- Trust and confidence
- Best interests
- Loyalty
5 Ds of Role Clarity - CORRECT ANSWER>>1. Discuss
,2
2. Determine
3. Document
4. Disclose
5. Do
Must disclose in writing - CORRECT ANSWER>>- the nature of services provided
- whether professional has entered into representation relationship with other party
- any conflicts of interest
- any other facts that may influence consumers decision to proceed with relationship
made to clarify and provide proof of undertanding in event issues or disputes arise
Written Service Agreement vs Customer Acknowledgement Forms - CORRECT
ANSWER>>Written Service Agreement
- when consumer chooses a representation relationship
- becomes a client
- provide signed copy to brokerage
Customer Acknowledge forms
- non-representation relationship
- becomes a customer
- provide signed copy to brokerage
PIPEDA - CORRECT ANSWER>>- Federal legislation
PIPA - CORRECT ANSWER>>Alberta's legislation, how private organizations use and disclose
personal information.
Power of Attorney - CORRECT ANSWER>>a legal document authorizing someone to act on your
behalf
- must be 18
- POA must be written, dated and signed by both donor and witness
- donor must be mentally capable or contract is void
- only effective as long as donor is alive, will takes effect once death
Types of POA - CORRECT ANSWER>>General POA
- has no limits on powers of the attorney
- can make all decisions regarding financial and legal affairs
, 3
- exception where the donor resides and health care
Special POA
- make certain decisions
- also called limited POA
- may grant authority to oversee sale, deals with land
- must be registered on Certificate of Title
Immediate POA
- takes effect as soon as POA is signed, dated and witnessed
- terminates upon loss of mental capacity or death
Enduring POA
- immediately upon being signed, dated and witnessed
- continues if donor becomes incapable, mentally incapacitated
- must include statement whether it takes effect immediately and continues...
Judicial Sale - CORRECT ANSWER>>Court ordered sale usually as a way to resolve legal matters
- primary debt recovery method for default mortgages
Foreclosure - CORRECT ANSWER>>legal action supervised by the court following a default on
the mortgage.
-transfers the real property from the borrower to the lender and erases interests on title.
Alberta Building Code - CORRECT ANSWER>>Legislation that establishes technical specifications
for new building construction and construction materials
Building Permit - CORRECT ANSWER>>typically valid for one year during which construction
process must be initiated
Factory Built Construction - CORRECT ANSWER>>Manufactured
- three sections that are 95% complete when they leave the factory.
- secure the sections to the foundation and join together
- can often move in the same day or within days
- saves time and mony
Modular Construction
- manufacturing three dimensional units, 85 percent complete when they leave
RECA RESIDENTIAL EXAM ACTUAL EXAM 200+
QUESTIONS AND DETAILED ANSWERS
VERIFIED ANSWERS ALREADY GRADED A
The council structure of Municipal districts include one councilor per ward, one of whom is
elected by council as the "Reeve" or administrator
Rural utility association has five or more people
- main purpose to supply its members utility services for electricity, gas, or water
Population numbers - CORRECT ANSWER>>- 18 Cities must have 10,000 people (mayor + even
number of councilors)
- 108 towns must have 1,000 (6 councilors + mayor)
- 87 Villages must have 300 (3 councilors including mayor)
- 51 summer villages, can no longer be created
natural water sources (6) - CORRECT ANSWER>>Surface water, rivers, river basins and
watersheds, lakes, wetlands, and springs
confined vs unconfined aquifer - CORRECT ANSWER>>confined - lies between layers of
impermeable materials, fully saturated with ground water
unconfined - also called water table, upper water surface is at atmospheric pressure
water - CORRECT ANSWER>>- be used in best manner
- support eco system
- ensure supplies are naturally replenished
- maintained and withdrawals do not exceed replenish rate
- Water Act governs
- need a water license, runs with land
- can use 1250 cubic meters or 275,000 gallons
Fiduciary Representation - CORRECT ANSWER>>- Trust and confidence
- Best interests
- Loyalty
5 Ds of Role Clarity - CORRECT ANSWER>>1. Discuss
,2
2. Determine
3. Document
4. Disclose
5. Do
Must disclose in writing - CORRECT ANSWER>>- the nature of services provided
- whether professional has entered into representation relationship with other party
- any conflicts of interest
- any other facts that may influence consumers decision to proceed with relationship
made to clarify and provide proof of undertanding in event issues or disputes arise
Written Service Agreement vs Customer Acknowledgement Forms - CORRECT
ANSWER>>Written Service Agreement
- when consumer chooses a representation relationship
- becomes a client
- provide signed copy to brokerage
Customer Acknowledge forms
- non-representation relationship
- becomes a customer
- provide signed copy to brokerage
PIPEDA - CORRECT ANSWER>>- Federal legislation
PIPA - CORRECT ANSWER>>Alberta's legislation, how private organizations use and disclose
personal information.
Power of Attorney - CORRECT ANSWER>>a legal document authorizing someone to act on your
behalf
- must be 18
- POA must be written, dated and signed by both donor and witness
- donor must be mentally capable or contract is void
- only effective as long as donor is alive, will takes effect once death
Types of POA - CORRECT ANSWER>>General POA
- has no limits on powers of the attorney
- can make all decisions regarding financial and legal affairs
, 3
- exception where the donor resides and health care
Special POA
- make certain decisions
- also called limited POA
- may grant authority to oversee sale, deals with land
- must be registered on Certificate of Title
Immediate POA
- takes effect as soon as POA is signed, dated and witnessed
- terminates upon loss of mental capacity or death
Enduring POA
- immediately upon being signed, dated and witnessed
- continues if donor becomes incapable, mentally incapacitated
- must include statement whether it takes effect immediately and continues...
Judicial Sale - CORRECT ANSWER>>Court ordered sale usually as a way to resolve legal matters
- primary debt recovery method for default mortgages
Foreclosure - CORRECT ANSWER>>legal action supervised by the court following a default on
the mortgage.
-transfers the real property from the borrower to the lender and erases interests on title.
Alberta Building Code - CORRECT ANSWER>>Legislation that establishes technical specifications
for new building construction and construction materials
Building Permit - CORRECT ANSWER>>typically valid for one year during which construction
process must be initiated
Factory Built Construction - CORRECT ANSWER>>Manufactured
- three sections that are 95% complete when they leave the factory.
- secure the sections to the foundation and join together
- can often move in the same day or within days
- saves time and mony
Modular Construction
- manufacturing three dimensional units, 85 percent complete when they leave
