Скачать или смотреть RECA EXAM QUESTIONS AND VERIFIED ANSWERS100 CORRECT 2023 2024

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..RECA Exam| Questions and Verified Answers|100% Correct| 2023/ 2024
Course
RECA Residential
Institution
RECA Residential
RECA Exam| Questions and Verified Answers|100% Correct| 2023/ 2024 Q: Which of the following best describes a written acknowledgement? Answer: It should state that the consumer received and understands the written disclosure made by a real estate professional Q: Which of the following types of authority allow an agent to act according to the usual ways of performing an action as established by the profession? Answer: Customary authority Q: Which of the following responsibilities do real estate professionals owe customers? Answer: Only some general obligations Q: If a real estate professional cannot provide competent service to a client, which of the following statements describe actions that the real estate professional should take? The real estate professional may refer the client to another real estate professional who specializes in that area of practice or geographic region The real estate professional may continue to represent the client in a trade or potential trade and provide services to the best of their ability The real estate professional may terminate the representation relationship and refer the client to another real estate professional at a different brokerage The real estate professional may work under the supervision of another real estate professional at the same brokerage who possesses the relevant experience Answer: Statements I and IV Q: If performance of a contract is impossible, what is the reason for the contract ending? Answer: Frustration Q: What is meant by a discharged contract? Answer: A contract that was valid and has now ended Q: Rodney has applied for a mortgage through Regional Mortgage Brokers Ltd. The mortgage associate there explains that the term of the mortgage is for 3 years and Rodney is in agreement. While signing the mortgage document with the lawyer, Rodney sees that the term is for 5 years. Rodney does not mention the misunderstanding and accepts the 5-year term. Based on an understanding of contracts, what type of mistake is this? Answer: Unilateral mistake Q: Which statement is true when the ownership of a property is referred to as 'tenancy in common'? Answer: Owners may have unequal ownership interest in the property Q: Which of the following statements defines the purpose of unit factors? Sets unit responsibility for common area expenses Defines the voting rights of the unit owner Determines the monthly contribution for the unit Sets the value of the unit for property tax purposes
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