Alberta Real Estate Licensing Exam Practice · Question
Under the Real Estate Act, which body is responsible for setting the educational and licensing standards for real estate professionals in Alberta?
RECA is the independent, self-governing professional body that sets and enforces standards for the real estate industry in Alberta.
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Question: Under the Real Estate Act, which body is responsible for setting the educational and licensing standards for real estate professionals in Alberta?
Answer options: ✅ Real Estate Council of Alberta (RECA)
- Alberta Real Estate Association (AREA)
- Alberta Finance and Treasury Board
- Canada Mortgage and Housing Corporation (CMHC)
Correct answer: Real Estate Council of Alberta (RECA)
Explanation: RECA is the independent, self-governing professional body that sets and enforces standards for the real estate industry in Alberta.
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- A buyer is purchasing a property for $550,000. They have secured a mortgage for $440,000. What is the Loan-to-
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