Alberta Real Estate Licensing Exam Practice · Question
An associate prepares a listing agreement for a seller. Which of the following is NOT typically required to be included in the associate's trade records file as per RECA Rules?
RECA Rules, Section 65 outlines the requirements for trade records. While many documents related to the transaction are required, the seller's personal bank acc
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Question: An associate prepares a listing agreement for a seller. Which of the following is NOT typically required to be included in the associate's trade records file as per RECA Rules?
Answer options:
- A copy of the signed listing agreement.
- All advertising materials used for the property.
- Copies of all offers and counter-offers received. ✅ The seller's personal bank account number for direct deposit of sale proceeds.
Correct answer: The seller's personal bank account number for direct deposit of sale proceeds.
Explanation: RECA Rules, Section 65 outlines the requirements for trade records. While many documents related to the transaction are required, the seller's personal bank account number for direct deposit is not a standard trade record requirement; confidential financial details for distribution of funds are handled differently during the closing process, typically by the conveyancing lawyer, not retained in the associate's trade file.
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