2026|RECA Fundamentals Exam
|Comprehensive Questions and
Verified Answers/Accurate
Solutions|Get it 100% Correct!!
Already Graded A+
Which of the following is NOT a RECA educational resource for industry
professionals? - 🧠 ANSWER ✔✔Spatial Information System (Spin 2)
Which entity has the authority to amend the Real Estate Act - 🧠 ANSWER
✔✔Provincial Legislature
,Which of the following measures the change in a cost of a fixed basket of
goods and services purchased by families over a period of time - 🧠
ANSWER ✔✔Consumer Price Index (CPI)
Which of the following will occur to the supply of a good when there is a
change in quantity supplied due to a price increase? - 🧠 ANSWER ✔✔an
increase in quantity supplied
Microeconics - 🧠 ANSWER ✔✔studies the basic theories of supply and
demand as it relates to individuals, households and firms
Resource Markets - 🧠 ANSWER ✔✔facilitate the exchange of factors of
production
What causes the quantity demanded to shift? - 🧠 ANSWER ✔✔change in
tastes, expectations, and number of consumers
benefits of economic growth - 🧠 ANSWER ✔✔depletion of natural
resources
Real Property Report - 🧠 ANSWER ✔✔document produced by Alberta
Land Surveyor
,Which of the following is not a non-price determinant of demand - 🧠
ANSWER ✔✔cost of production
What type of economy does Canada have? - 🧠 ANSWER ✔✔mixed
economy
Benefits of RECAS trust assurance and practice review program - 🧠
ANSWER ✔✔- effective record keeping and administrative procedures
- education and advice in relation to brokerage trust accounting
- identifies and resolves potential problems regarding brokerage trust
accounting requirements
Responsibilities of RECA - 🧠 ANSWER ✔✔- Handling professional conduct
review
- establishing industry standards of practice
- issuing authorization to trade in real estate
Four factors of production - 🧠 ANSWER ✔✔land, labor, capital,
entrepreneurship
RECA provides the following annual reports - 🧠 ANSWER ✔✔- financial
reports
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, - industry statistics
- reports for the previous year
The structure of real estate in Alberta includes; - 🧠 ANSWER ✔✔- local real
estate boards
- alberta real estate association
- canadian real estate association
Referral definition - 🧠 ANSWER ✔✔The act of recommending or directing a
person for service to another person or business
- brokerage is responsible for paying and receiving remuneration in
connection to trade
RECAS professional conduct review Objects - 🧠 ANSWER ✔✔- gather all
relevant information
- treat parties fairly
-gather information efficiently
Amendments to the Act - 🧠 ANSWER ✔✔- can be made by provincial
legislature with recommendations by the Minister of Service Alberta
|Comprehensive Questions and
Verified Answers/Accurate
Solutions|Get it 100% Correct!!
Already Graded A+
Which of the following is NOT a RECA educational resource for industry
professionals? - 🧠 ANSWER ✔✔Spatial Information System (Spin 2)
Which entity has the authority to amend the Real Estate Act - 🧠 ANSWER
✔✔Provincial Legislature
,Which of the following measures the change in a cost of a fixed basket of
goods and services purchased by families over a period of time - 🧠
ANSWER ✔✔Consumer Price Index (CPI)
Which of the following will occur to the supply of a good when there is a
change in quantity supplied due to a price increase? - 🧠 ANSWER ✔✔an
increase in quantity supplied
Microeconics - 🧠 ANSWER ✔✔studies the basic theories of supply and
demand as it relates to individuals, households and firms
Resource Markets - 🧠 ANSWER ✔✔facilitate the exchange of factors of
production
What causes the quantity demanded to shift? - 🧠 ANSWER ✔✔change in
tastes, expectations, and number of consumers
benefits of economic growth - 🧠 ANSWER ✔✔depletion of natural
resources
Real Property Report - 🧠 ANSWER ✔✔document produced by Alberta
Land Surveyor
,Which of the following is not a non-price determinant of demand - 🧠
ANSWER ✔✔cost of production
What type of economy does Canada have? - 🧠 ANSWER ✔✔mixed
economy
Benefits of RECAS trust assurance and practice review program - 🧠
ANSWER ✔✔- effective record keeping and administrative procedures
- education and advice in relation to brokerage trust accounting
- identifies and resolves potential problems regarding brokerage trust
accounting requirements
Responsibilities of RECA - 🧠 ANSWER ✔✔- Handling professional conduct
review
- establishing industry standards of practice
- issuing authorization to trade in real estate
Four factors of production - 🧠 ANSWER ✔✔land, labor, capital,
entrepreneurship
RECA provides the following annual reports - 🧠 ANSWER ✔✔- financial
reports
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2026. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, - industry statistics
- reports for the previous year
The structure of real estate in Alberta includes; - 🧠 ANSWER ✔✔- local real
estate boards
- alberta real estate association
- canadian real estate association
Referral definition - 🧠 ANSWER ✔✔The act of recommending or directing a
person for service to another person or business
- brokerage is responsible for paying and receiving remuneration in
connection to trade
RECAS professional conduct review Objects - 🧠 ANSWER ✔✔- gather all
relevant information
- treat parties fairly
-gather information efficiently
Amendments to the Act - 🧠 ANSWER ✔✔- can be made by provincial
legislature with recommendations by the Minister of Service Alberta
