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2024 RECA Residential Exam with Answers (220 Solved Questions)

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    RECA Residential Exam Latest Updated 2024 Power of Attorney - a legal document authorizing someone to act on your behalf - must be 18 - POA must be written, dated and signed by both donor and witness - donor must be mentally capable or contract is void - only effective as long as donor is alive, will takes effect once death Types of POA - General POA - has no limits on powers of the attorney - can make all decisions regarding financial and legal affairs - exception where the donor resides and health care Special POA - m ake certain decisions - also called limited POA - may grant authority to oversee sale, deals with land - must be registered on Certificate of Title Immediate POA - takes effect as soon as POA is signed, dated and witnessed - terminates upon loss of mental capacity or death Enduring POA - immediately upon being signed, dated and witnessed - continues if donor becomes incapable, mentally incapacitated - must include statement whether it takes effect immediately and continues ... Judicial Sale - Court ordered sale usually as a way to resolve legal matters - primary debt recovery method for default mortgages

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    Foreclosure - legal action supervised by the court following a default on the mortgage. - transfers the real property fr om the borrower to the lender and erases interests on title. Alberta Building Code - Legislation that establishes technical specifications for new building construction and construction materials Building Permit - typically valid for one year during whic h construction process must be initiated Factory Built Construction - Manufactured - three sections that are 95% complete when they leave the factory. - secure the sections to the foundation and join together - can often move in the same day or within day s - saves time and mony Modular Construction - manufacturing three dimensional units, 85 percent complete when they leave - requires few weeks on site to be complete - allows for creation of multi - story buildings Panelized construction - creation of pre - fabricated wall, floor or roof panels - panels may be completed fully or partially - may consist of just the frame or fully complete with windows and siding Fiduciary Representation - - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity - 1. Discuss 2. Determine 3. Document

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    4. Disclose 5. Do Must disclose in writing - - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship made to clarify and pro vide proof of undertanding in event issues or disputes arise Written Service Agreement vs Customer Acknowledgement Forms - Written Service Agreement - when consumer chooses a representation relationship - becomes a client - provide signed copy to brokerage Customer Acknowledge forms - non - representation relationship - becomes a customer - provide signed copy to brokerage PIPEDA - - Federal legislation PIPA - Alberta's legislation, how private organizations use and disclo se personal information. Alberta Safety Codes Act - provincial legislation that sets specifications for n ew building. Components of Construction - Lot Substructure - building foundation Superstructure - above grade construction includes; envelope, service systems, interior

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    - building envelope - everything that encloses the structure - roof, exterior walls, windows, doors, and interior walls - building service systems - supply's essential services - heat, electricity, water - interior - interior walls, features, finishes, and fixtures Pre - wired - security systems, internet, fireplace controls, windows P reserved Wood foundation - treated wood, must be certified with a stamp. - must be examined by engineer or architect stating conforms to the Alberta Building Code requirements - poured concrete is the most common foundation Subsurface Drainage - Drain t iles - directs water to storm system or sump pit Sump Pump - located in sump pit in the foundation, accessible - submersible pump - installed within the sump pit - pedestal/upright - set outside of the sump pit Parging - Thin top coat that is applied to exterior finish, used to create smooth surface. can be cement or acrylic - protects above grade foundation walls Building Floors - Beams - structural components that create base Joist - support part of structure, placed horizontal - supports floor or ceiling Bridging/Blocking - adds to load carrying capabilities and reduces the potential for movement. R - Value or RSI - the rate at which heat moves through insulation, the higher the value the more effective the mat erial is at resisting the transfer of heat.

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    R2000 - Standard of insulation for new construction. Certified by Govt - energy performance - indoor air quality - environmental responsibility Roofs - Low slope - 14 degrees or less Steep slope - 15 degrees o r more Flashing - used to create weatherproof seal Soffits - underside of roof, ventilation for the attic Fascia - trim the ends of the roof eaves - form connection between roof and exterior walls Windows - Bay - angled Bow - smoother rounder than bay Dormer - built into the main roof Clerestory - high windows located on the upper part of wall Sky lights Fuel Utilization - Low - Less than 77% Mid - 78 - 89% High - 90% + Electrical - residential properties with less than 100 amp may be difficult to insur e - permits needed for installation Hot water - hot water tanks Tankless hot water heaters - central - designed to supply hot water throughout whole building - point of use - only supply to plumbing fixture they are attached to. Efficient to use but expe nsive to install

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    Plumbing - includes fresh water, hot water, and waste water - materials used include copper, rigid plastic, and flexible plastic Heating - The main types of residential heating include; Forced air hot water radiant - uses hot water or el ectricity electric systems High efficiency vents out the buildings exterior wall Ceilings - Valuted - follow roofline, unequal sides Cathedral - two equal sides (Aframe) Drop - covers pipes and wires Coffered - insets, waffle like Main principals of water - Reduce, Retrofit, repair Remediation - return a contaminated area to a level that does not impair or damage the environment, health or safety Legislation - Safety Codes Act - Permit regulation Fair Trading Act - Home inspection business regulation Energy Efficiency Act and Regulations - minimum energy performance requirements Alberta Building Code - specifications for new construction and building materials Property Inspections - an examination of various building systems in or der to provide an opinion Should include - current conditions of all items inspected by the property

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    - Inspected items listed as unsafe or requires repairs - preventative measures needed to remedy or extend life of inspected items - do not look at buildi ng permits Home inspection business regulation Environmental Risks - - are situations in which a property and/or its occupants are exposed to danger - only limited exposure is possibly before irreparable damage - becomes risk only if a conduit to facilit ate the transaction is present Environmental Hazard - could cause harm to health or safety with exposure RMS - Detached house - measure from exterior wall at foundation Attached/semi attached - measure from interior walls at floor level. Exclude any floors where portion is below grade. include anything above grade + any additions if they have permanent foundation/footings, connected to main electrical, heated by main heating or has its own 5 ft ceiling height may be included as long as 7f t is somewhere stairs are added to level they lead to Correlation between property size and price - - not proportional, many other factors. - no direct correlation Measurement tips - interior measurements are used to extrapolate exterior measurements - when exterior is inaccessible

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    extrapolated measurements should be included as additional measurements Professionals Sanctions - Advisory Note - measures property but makes mistake (math error, data entry error) - not technically a sanction Letter of R eprimand - measures property but makes error (failing to maintain diagram, failing to use correct methods, not discussing RMS with client, measuring outside of knowledge) Administrative Penalties - fails to measure or disregards process (not measuring pro perly, disregarding advice, choosing to not discuss with client) Property Defects - Patent Defects - obvious flaws discovered upon reasonable inspection. Buyer is responsible to discover and makes steps to satisfy. Latent Defects - not known to the seller or buyer at time of sale. Physical deficiencies that are not dangerous. Liability is an issue - common law doctrine of Caveat Emptor (buyer beware - protect own interests) Material Latent Defects - not visible upon ordinary inspection. Affects use or value. Seller must disclose - sellers may decide whether or not to disclose if has been remedied Flooding - Floodways - deepest fastest, highest risk (red) Flood Fringes - shallower, slower (pink) Found on flood hazar d map Disaster Recovery Program - provides funding for uninsured property damage. registers on property title, can only qualify every 100 years. - administered by Alberta Municipal Affairs Secondary Suites - Not usually permitted in duplexes, semi - detach ed or attached.

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