GRI Brokerage – Questions & Correct Solutions
The Five Canons; Fidelity ✔️Ans - place no personal interest above the
client's interest
The Five Canons: Integrity ✔️Ans - -has a special obligation to perform
their responsibilities
-must use caution to avoid misrepresentation by acts of commission or
omission
The Five Canons of Professional Ethics and Conduct ✔️Ans - Fidelity
Integrity
Competence
Consumer Information Form
Discriminatory Practices
*If a person believes the licensee violated TRELA (The Real Estate License
Act) who has jurisdiction of the complaint? ✔️Ans - TREC
Common TREC complaints: Salespersons ✔️Ans - general negligence,
false promises, rebates, improper referrals and earnest money issues
Common TREC Complaints: Licensure Issues ✔️Ans - criminal
background check, denials, probationary license
Common TREC Complaints: Leasing/Property Management ✔️Ans -
misappropriation, includes commingling, and failure to properly account
for money, general negligence, false promises and referrals
Common TREC Complaints:: Advertising ✔️Ans - includes misleading &
DBA
Association of REALTORS receives ethics complaints. Disciplinary action
could include: ✔️Ans - a reprimand
a fine
probation
suspension of membership
revocation of membership
, any combination of the above actions
What sets clear rules stating what you can and cannot do in real estate
transactions, with clients, the public, and fellow REALTORS? ✔️Ans -
NAR Code of Ethics
Professional Attributes according to the code of ethics? ✔️Ans - common
courtesies, listening skills, and effective communication
The Code of Ethics reinforces the law set forth to protect the public, but it
also demands that REALTORS follow ✔️Ans - established principles of
conduct that will further promote an unbiased real estate environment
Structure of the Code of Ethics: Articles 1-9 ✔️Ans - duties to clients and
customers
Structure of the Code of Ethics: Articles 10-14 ✔️Ans - duties to the
public
Structure of the Code of Ethics: Articles 15-17 ✔️Ans - duties to the
REALTORS
The Code of Ethics is reviewed ___ by the ___ and modifications to it are
made from time to time to reflect industry changes. ✔️Ans - annually,
NAR
How do REALTOR members receive Code of Ethics updates? ✔️Ans - NAR
-> local associations--> REALTOR members
ombudsman action ✔️Ans - applies his communication and problem-
solving skills in an effort to reconcile the differences amongst the parties
ombudsman purpose ✔️Ans - -to anticipate, identify, and resolve
misunderstandings and disagreements before matters turn into disputes
and charges of unethical conduct
-to reach resolution bw parties so no further action is necessary
Who can file an ethics complaint? ✔️Ans - member of public or REALTOR
(everyone)
The Five Canons; Fidelity ✔️Ans - place no personal interest above the
client's interest
The Five Canons: Integrity ✔️Ans - -has a special obligation to perform
their responsibilities
-must use caution to avoid misrepresentation by acts of commission or
omission
The Five Canons of Professional Ethics and Conduct ✔️Ans - Fidelity
Integrity
Competence
Consumer Information Form
Discriminatory Practices
*If a person believes the licensee violated TRELA (The Real Estate License
Act) who has jurisdiction of the complaint? ✔️Ans - TREC
Common TREC complaints: Salespersons ✔️Ans - general negligence,
false promises, rebates, improper referrals and earnest money issues
Common TREC Complaints: Licensure Issues ✔️Ans - criminal
background check, denials, probationary license
Common TREC Complaints: Leasing/Property Management ✔️Ans -
misappropriation, includes commingling, and failure to properly account
for money, general negligence, false promises and referrals
Common TREC Complaints:: Advertising ✔️Ans - includes misleading &
DBA
Association of REALTORS receives ethics complaints. Disciplinary action
could include: ✔️Ans - a reprimand
a fine
probation
suspension of membership
revocation of membership
, any combination of the above actions
What sets clear rules stating what you can and cannot do in real estate
transactions, with clients, the public, and fellow REALTORS? ✔️Ans -
NAR Code of Ethics
Professional Attributes according to the code of ethics? ✔️Ans - common
courtesies, listening skills, and effective communication
The Code of Ethics reinforces the law set forth to protect the public, but it
also demands that REALTORS follow ✔️Ans - established principles of
conduct that will further promote an unbiased real estate environment
Structure of the Code of Ethics: Articles 1-9 ✔️Ans - duties to clients and
customers
Structure of the Code of Ethics: Articles 10-14 ✔️Ans - duties to the
public
Structure of the Code of Ethics: Articles 15-17 ✔️Ans - duties to the
REALTORS
The Code of Ethics is reviewed ___ by the ___ and modifications to it are
made from time to time to reflect industry changes. ✔️Ans - annually,
NAR
How do REALTOR members receive Code of Ethics updates? ✔️Ans - NAR
-> local associations--> REALTOR members
ombudsman action ✔️Ans - applies his communication and problem-
solving skills in an effort to reconcile the differences amongst the parties
ombudsman purpose ✔️Ans - -to anticipate, identify, and resolve
misunderstandings and disagreements before matters turn into disputes
and charges of unethical conduct
-to reach resolution bw parties so no further action is necessary
Who can file an ethics complaint? ✔️Ans - member of public or REALTOR
(everyone)
