Test 2 Flashcards
When self-regulation is applied to an occupation, what criteria typically define that occupation as a profession?
Possessing a high level of public demand
Having a specialized combination of knowledge and skills, having a duty of service to society, and providing a unique service to the public.
Having a specialized combination of knowledge and skills, having a duty of service to society, and providing a unique service to the public.
According to the Real Estate Act, who is eligible to be RECA’s executive director?
Any licensee in good standing
A broker in good standing
A member of one of the industry councils
An unlicensed individual who is not a member of the board or an industry council
An unlicensed individual who is not a member of the board or an industry council
Section 7.1(1) of the Real Estate Act defines the Industry Councils. Which industry council includes rural/agri-business?
Residential Real Estate Broker Industry Council
Commercial Real Estate Broker and Commercial Property Manager Industry Council
Commercial Real Estate Broker and Commercial Property Manager Industry Council
How many members make up RECA’s Board of Directors?
Three
Four
Seven
Nine
Seven (3 members of the public and 4 licensees)
To whom does RECA’s executive director report and to whom are they accountable?
The executive director reports to the public members of RECA’s board of directors and is accountable to the Minister of Service Alberta.
The executive director reports to the licensees and is accountable to the general public.
The executive director reports to and is accountable solely to RECA’s board of directors.
The executive director is accountable to registered Alberta real estate associations.
The executive director reports to and is accountable solely to RECA’s board of directors.
Who is responsible for appointing RECA’s registrar, as per the Real Estate Act, and how does the registrar’s role relate to the executive director?
The registrar is appointed by the Minister of Service Alberta and oversees the executive director.
The registrar is appointed by RECA’s board of directors, and is a subordinate to the executive director.
The registrar is appointed by RECA’s board of directors, and is a subordinate to the executive director.
What does it mean for an office to be considered a “registered business office”?
It must be registered with the municipality.
It should be the primary location for client meetings.
It must have a large physical footprint.
It must meet several specified conditions, including being the location where required records are kept.
It must meet several specified conditions, including being the location where required records are kept.
Why is it important for the office location to comply with the requirements of the municipality where it is located?
To secure a lower lease cost for the office.
To reduce the tax burden on the brokerage.
To ensure that the office operates legally within the local jurisdiction and abides by local regulations.
To establish a favorable location for client accessibility.
To ensure that the office operates legally within the local jurisdiction and abides by local regulations.
What is the final step required for an individual to become a condominium manager associate once they meet the qualifications and are employed by a licensed condominium manager brokerage?
Applying to RECA
Passing a licensing exam
Being registered with and approved to provide condominium management services on behalf of the brokerage.
Obtaining a real estate license.
Being registered with and approved to provide condominium management services on behalf of the brokerage.
An applicant was previously licensed as a condominium manager but has not been registered with a brokerage in Alberta for 14 months. When this individual submits their application, they must also include (select all that apply):
A current and original certified criminal record check for their legal name.
A recommendation letter form their previous broker.
A statement of intent to return to industry.
Proof of identity.
A current and original certified criminal record check for their legal name.
Proof of identity.
Which class of condominium manager represents the highest level within the classification hierarchy?
Associate
Broker
Associate broker
Broker
To pass a pre-licensing exam, a learning must score?
50% or higher
70% or higher
75% or higher
80% or higher
70% or higher
The Real Estate Act Rules define “confidential information” as:
Any information concerning the client, including the client’s financial or personal situation, the client’s real estate, and the transaction involving the client.
RECA has received a complaint about Robert’s conduct with a client. Even though Robert feels the complaint is a misunderstanding, he compiles the information requested by RECA.
Which licensee responsibility is demonstrated in this situation?
Act honestly
Practice in Accordance with Real Estate Act
Cooperate with RECA
Cooperate with RECA
Privacy legislation governs which of the following?
Collection of information
Use of information
Disclosure of personal information by private organizations
All of the above
All of the above
