The Code of Ethics: Our Promise of Professionalism The REALTORS® Code of Ethics Member Education Program TEST ANSWER KEY All REALTORS® are bound by the Code of Ethics. 1. True The authority to conduct arbitration is established in Article 17 of the Code of 2. True Ethics. When the Code of Ethics and state law conflict, state law takes precedence. 3. True Boards and associations have considerable latitude in determining how and 4. True when ombudsmen will be utilized. The Code of Ethics is divided into three major sections, titled: "Duties to Clients 5. False and Customers," "Duties to the Public," and "Duties to Community." The Standards of Practice support, interpret, and amplify respective Articles. 6. True First adopted in 1913, the purpose of the Code of Ethics was to establish a professional standard of conduct for real estate practitioners. 7. True The official of the Code of Ethics” are specific fact situations that “Interpretations explain the Articles and Standards of Practice of the Code of Ethics. 8. True Only REALTORS® may file ethics complaints and make requests for arbitration. 9. False The Code of Ethics always has required that REALTORS® respect other brokers’ exclusive relationships. 10. True The Code of Ethics is continually reviewed and revised. 11. True Decisions in arbitration hearings cannot be appealed. 12. False The Preamble to the Code of Ethics, if violated, may be the for disciplinary action. 13. False The Code of Ethics includes 17 Articles that are broad statements of ethical principles. 14. True Enforcing the Code of Ethics rests with each state’s regulatory body and each local association of REALTORS®. 15. False Ethics complaints only cover disputes between REALTORS® of different firms over referral fees. 16. False The Code requires REALTORS® to present a true picture in all of representations. 17. True
The Code of Ethics: Our Promise of Professionalism The REALTORS® Code of Ethics Member Education Program TEST ANSWER KEY All REALTORS® are bound by the Code of Ethics. The authority to conduct arbitration is established in Article 17 of the Code of Ethics. When the Code of Ethics and state law conflict, state law takes precedence. Boards and associations have considerable latitude in determining how and when ombudsmen will be utilized. The Code of Ethics is divided into three major sections, titled: "Duties to Clients and Customers," "Duties to the Public," and "Duties to Community." The Standards of Practice support, interpret, and amplify respective Articles. First adopted in 1913, the purpose of the Code of Ethics was to establish a professional standard of conduct for real estate practitioners. The official “Interpretations of the Code of Ethics” are specific fact situations that explain the Articles and Standards of Practice of the Code of Ethics. Only REALTORS® may file ethics complaints and make requests for arbitration. The Code of Ethics always has required that REALTORS® respect other brokers’ exclusive relationships. The Code of Ethics is continually reviewed and revised. Decisions in arbitration hearings cannot be appealed. The Preamble to the Code of Ethics, if violated, may be the for disciplinary action. The Code of Ethics includes 17 Articles that are broad statements of ethical principles. Enforcing the Code of Ethics rests with each state’s regulatory body and each local association of REALTORS®. Ethics complaints only cover disputes between REALTORS® of different firms over referral fees. The Code requires REALTORS® to present a true picture in all of representations. 1. True 2. True 3. True 4. True 5. False 6. True 7. True 8. True 9. False 10. True 11. True 12. False 13. False 14. True 15. False 16. False 17. True
Code-of-Ethics-Quad-Test-Answers-2018-10-26.docx