Aceable Agent Ethical Real Estate Final Exam And Complete Solutions 2024.

Laws - Answer rules that are enforced by a local, state, or federal government authority to help create order in society by establishing a "social contract" between citizens and the government Ethics - Answer standards of conduct agreed upon and recognized by a particular group or culture We behave ethically, however, because it is the right thing to do, whether by society's standards, or by the standards of our industry, or by the standards of whatever group we belong to. Ethics depend on the opinions of others for definition and consensus. Morals - Answer the personal values derived from a system of beliefs morals are held internally & vary by the individual The National Association of REALTORS (NAR) - Answer created the Code of Ethics in 1913 to establish a widely held code for conducting business in a proper fashion trick: the titanic sunk in 1912, think "NAR-ver let go, Jack!" The Code of Ethics consists of a *Preamble* (an introduction) and *17 Articles*. These articles cover *three main categories of duties*: -The first nine Articles are *Duties to Clients and Customers* -Articles 10 through 14 are *Duties to the Public* -Articles 15, 16, 17 are *Duties to REALTORS®* liability - Answer the state of being responsible for something