RECA Exam | 2023/ 2024 Update| Real Questions and Verified Answers|100% Correct- Grade A
QUESTION
Which of the following are benefits of professional
... [Show More] courtesy? It helps avoid legal proceedings against real estate professionals
It helps avoid a professional conduct review being conducted by RECA It helps avoid the issuance of disciplinary outcomes by RECA
It helps avoid claims being made against REIX
A) Statements I, II and III B) Statements II, III and IV C) Statements I, III and IV D) All statements apply
Answer:
D
QUESTION
According to the Rules, which of the following should occur before a real estate professional may act as a transaction facilitator?
They must verbally agree to act as a transaction facilitator with each client They must enter into a written transaction brokerage agreement with each client
The clients must have the opportunity to review their respective transaction brokerage agreement before signing it
The clients must have the opportunity to get any questions answered before signing their respective transaction brokerage agreement
A) Statements I, II, and III B) Statements II, III, and IV C) Statements I, III, and IV D) All statements apply
Answer:
B
QUESTION
Which of the following measures are used to determine the standard of care for real estate professionals?
A) Professionals standards
B) Professional norms and practices
C) Expert testimony
D) All measures are used
Answer:
D
QUESTION
Which of the following statements indicate the 3 fundamental principles upon which fiduciary duties are based?
Loyalty
Best interests
Act in person
Trust and confidence
A) Statements I, II and III B) Statements II, III and IV C) Statements I, III and IV
D) Statements I, II and IV
Answer:
D
QUESTION
Which of the following describes the party being represented by another party in a representation relationship?
A) Agent
B) Third party
C) Principal
D) Customer
Answer:
C
QUESTION
When are fiduciary duties owed by a real estate professional? A) As soon as they receive confidential information from a client
B) As soon as they establish a representation relationship with a customer C) As soon as they enter into a written service agreement with a customer D) As soon as they are granted express authorities from a client
Answer:
A
QUESTION
Which of the following categories of brokerage services involves numer- ous services that require the greatest level of discretion or judgement?
A) Mere posting service
B) Limited brokerage services
C) Full brokerage services
D) Property management services
Answer:
D
QUESTION
Which of the following best describes statute law?
A) An accumulation of laws enacted by various levels of government
B) An accumulation of laws enacted by the courts
C) A rigid code of rules enacted by the provincial government
D) A rigid code of rules enacted by the federal government
Answer:
A
QUESTION
Which of the following situations is an example of an injunction?
A) The court forces a party to complete its contract with the another party
B) The court prevents the party from selling the property to another party
C) The court forces a landlord to pay the tenant damages for ending the lease without cause
D) A tenant does basic repairs on a property and sues the landlord for reimbursement
Answer:
B [Show Less]