NSAR UNIT 8 | COMPLETE PRACTICE QUESTIONS, ANSWERS & STUDY GUIDE 2026/2027

NSAR UNIT 8 | COMPLETE PRACTICE QUESTIONS, ANSWERS & STUDY GUIDE
2026/2027


A managing associate broker is not responsible for reviewing salesperson advertisements, as
that responsibility falls to the individual salesperson employed by the brokerage. - correct
answer ✔✔False



The law is enforced through the policies and courts, while professional business standards are
generally enforced by the governing regulatory bodies and/or professional organizations. -
correct answer ✔✔True



The terms morals and professional standards can be generally viewed as synonymous. - correct
answer ✔✔False



According to the NSREC Standards of Business Practice, if confidential information is obtained
when listing a property, that confidentiality extends beyond the time when the property is sold.
- correct answer ✔✔True



A salesperson must never publicly discredit a competitor, according to both the REALTOR Code
of Ethics and the NSREC Standards of Business Practice, - correct answer ✔✔True



A Discipline Hearing Panel may levy one of more penalties as set out in the REALTOR Code of
Ethics. - correct answer ✔✔False



All real estate licensees in Nova Scotia are required to adhere to the REALTOR Code of Ethics -
correct answer ✔✔False



The NSREC Standards of Business Practice contain interpretations, but not the REALTOR Code of
Ethics. - correct answer ✔✔False

, Members of the Nova Scotia Association of REALTORS must abide by the REALTOR Code of
Ethics given NSAR's affiliation with the Canadian Real Estate Association. - correct answer
✔✔True



According to the NSREC Standards of Business Practice, an industry member shall carefully and
fully analyze all factors affecting a property, prior to making an appraisal or giving an opinion of
value. - correct answer ✔✔True



The Competition Act is a Nova Scotia statute, which addresses false and misleading advertising
as well as deceptive business practice. - correct answer ✔✔False



Article 1 in the CREA Standards of Business Practice generally addresses the same ethical
obligation as detailed in Article 7 of the NSREC Standards of Business Practice (NSREC Bylaw, Sec
702). - correct answer ✔✔True



Article 13 (REALTOR Code of Ethics) and Article 16 (NSREC Standards of Business Practice)
provide that the brokerage name must be included in advertisements. - correct answer ✔✔True



True or False: The Complaint Review Committee is responsible, among other things, for
reviewing decisions where a complaint is not satisfied with the decision of the Registrar. -
correct answer ✔✔True



Salesperson Tremblay listed Seller Smith's property. Initially, the property didn't have much
appeal to Tremblay from a personal perspective but subsequently he became interested in
buying it. After several days of personal debate, Tremblay called Smith and arranged to meet.
Tremblay presented Smith with an acceptable offer. However, in the midst of genuine
excitement, he forgot to provide written disclosure that he was a real estate salesperson.
Identify the following correct response from the following:

A. Article 21 of the NSREC Standards of Business Practice applies directly to this situation.

B. The REALTOR Code of Ethics does not address this situation.

C. The NSREC Standards of Business Practice does to address this situation