Which body is responsible for licensing and regulating real estate professionals in Alberta?
Real Estate Act Rules Reca
Question · Easy
Under what legislation does RECA derive its authority to regulate real estate professionals in Alberta?
Chapter 1: Real Estate Council of Alberta & The Legislative Framework
1.1 The Real Estate Act & RECA Mandate
Study guide
A consumer suffers a financial loss because a licensed Alberta brokerage misappropriated trust money. Which fund may provide compensation?
Question · Medium
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In Alberta, a real estate associate must conduct trades in real estate on behalf of which entity?
Which document sets out the detailed conduct requirements that licensees must follow, made under the authority of the Real Estate Act?
A licensee receives a complaint from a consumer. Which RECA process investigates whether the licensee breached the Act or Rules and may impose sanctions?
Question · Hard
1.2 Licensing Classes, Authorizations & Eligibility
What is the minimum passing score on each RECA pre-licensing competency exam?
Which of the following BEST describes the purpose of the Real Estate Act and the Rules?
An associate wishes to move to a different brokerage. What must happen to their authorization to trade?
Continuing education that RECA requires licensees to complete each licensing cycle is intended primarily to:
1.3 Professional Conduct, Discipline & The Real Estate Assurance Fund
Which of the following activities would generally require a real estate licence in Alberta?
A brokerage's licensed broker is primarily responsible for:
RECA's mandate to protect the public includes setting standards for which of the following sectors it regulates?
Which statement about RECA hearing panel sanctions is correct?
1.4 Brokerage Structure, Supervision & Delegated Authority
A consumer asks whether their associate is insured for errors made in the course of a trade. In Alberta, licensees are required to carry:
Which of the following is a key consumer-protection requirement imposed on licensees by RECA?
The Fundamentals of Real Estate competency exam consists of how many multiple-choice questions?
Before a person can be licensed as a residential real estate associate in Alberta, they must:
Chapter 2: Professional Ethics, Advertising & Statutory Compliance
2.1 Code of Conduct & Professional Standards
Which organization delivers the pre-licensing course content for RECA's real estate program?
A licensee discovers another associate is committing fraud against a client. Under their professional obligations, the licensee should:
What is the approximate fee for each RECA competency exam attempt?
RECA Rules require that advertising by a licensee must:
2.2 Conflicts of Interest & Personal Trades in Real Estate
Which statement about RECA's relationship to the Government of Alberta is correct?
A licensee is unsure whether a particular activity requires disclosure under the Rules. The BEST course of action is to:
The Practice of Residential Real Estate exam differs from the Fundamentals exam mainly because it focuses on:
In an agency relationship, the person the agent represents and owes fiduciary duties to is the:
Agency Consumer Relationships
2.3 Advertising Guidelines & Social Media Rules
Which of the following is a fiduciary duty an agent owes to their client?
A common acronym for the fiduciary duties an agent owes a client includes loyalty, obedience, disclosure, confidentiality, accounting and:
When does an agency relationship between a brokerage and a client typically begin?
In designated agency, who within the brokerage represents the client?
2.4 FINTRAC & Anti-Money Laundering Compliance
A potential conflict of interest most clearly arises when one associate attempts to:
A consumer who chooses NOT to be represented but still buys through a listing brokerage is treated as a:
An associate representing a seller learns the seller will accept far less than the listed price. To whom may the associate disclose this?
The duty that requires an agent to keep the client informed of all material facts relevant to the transaction is the duty of:
Chapter 3: Agency Law & Representation Models in Alberta
3.1 Principles of Agency & Common Law Foundations
An agency relationship can be terminated by all of the following EXCEPT:
Why must a licensee disclose their representation status (client vs customer) early when dealing with consumers?
An associate is obligated to follow the client's lawful instructions. If the client instructs the associate to misrepresent the property's condition, the associate must:
A buyer's representation agreement primarily serves to:
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