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PRACTICE OF PROPERTY MANAGEMENT
REAL ESTATE COUNCIL OF ALBERTA EXAM
COMPLETE 100 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS) |
ALREADY GRADED A+
What are the five main areas of the sales process? - ANSWER- Prospecting, qualifying, presenting, closing, follow-up
Someone purposely making their chair higher than the other's is:
- ANSWER- positioning
What is sole agency? - ANSWER- The agent only represents one client in a transaction
A mica-like mineral, when subjected to a heating process, pops or puffs up, creating air pockets. The expanded form was used in
insulation. this is: - ANSWER- vermiculite
The mortgagee is the: - ANSWER- lender
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What essential element has to do with delivering a signed copy of the offer to purchase to all parties? - ANSWER- Mutual agreement
True or false: the main difference between a customer and a
client is engagement. - ANSWER- true
What are the 5 C's of credit? - ANSWER- Character, Capacity, Capital, Collateral, Conditions
Which principle protects the owner of the title? - ANSWER- insurance principle
what is a ground fault circuit interrupter designed to do? - ANSWER- prevent electrical shocks by detecting small variations in current flow
True or false: if a person signed a contract and purposely made a
mistake because they did not have the money to proceed, then the contract can be voided because of the mistake. - ANSWER- False
True or false: a party wall agreement is the same as a mutual
easement. - ANSWER- True
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