CODE OF ETHICS -2024 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED

The idea of "ethics" can mean: a. Morals or personal beliefs. b. Industry practices or standards. c. Religious beliefs. d. Philosophical beliefs. e. All of the above. - CORRECT ANSWER e. All of the above. At the time the REALTOR® Code of Ethics was adopted: a. the real estate industry was well organized and noted for its professionalism. b. there were no real estate licensing laws. c. "Let the public be served" was the motto of the real estate industry. - CORRECT ANSWER b. there were no real estate licensing laws. When real estate licensing laws were established, state legislatures: a. required real estate practitioners to be peddlers. b. looked to the Code of Ethics as a source of standards for of the real estate industry. c. used the medical profession's licensing code as the pattern for the real estate industry. d. had attorneys draft all new rules for the real estate industry. - CORRECT ANSWER b. looked to the Code of Ethics as a source of standards for of the real estate industry. . The Code of Ethics: a. was adopted to establish standards of conduct for the industry. b. was based on the concept of "the public be damned". c. was adopted in 1931. d. was adopted long after real estate licensing laws were in existence. - CORRECT ANSWER a. was adopted to establish standards of conduct for the industry. "Alternative Dispute Resolution": a. means going to federal courts rather than state courts. b. does not include the use of arbitration or mediation. c. has been mandated since the Code of Ethics was adopted (in the form of arbitration). d. none of the above. - CORRECT ANSWER c. has been mandated since the Code of Ethics was adopted (in the form of arbitration). The Preamble to the Code of Ethics is an aspirational introduction to the Code which sets ideals that REALTORS® strive to meet. a. True b. False - CORRECT ANSWER a. True The phrase "Under all is the land": a. is the first sentence in the Preamble. b. indicates the all-encompassing nature of the real estate business. c. embodies the idea that land is the foundation of food and shelter and sophisticated aspects of economy and prosperity. d. all of the above. - CORRECT ANSWER d. all of the above. The Preamble: a. can be used as a basis to discipline of REALTOR®. b. is based solely on the idea of protecting REALTORS®. c. cannot be used to discipline a REALTOR®. d. is the same as an Article of the Code. - CORRECT ANSWER c. cannot be used to discipline a REALTOR The three major categories of the Code are (mark the three correct ones): Duties to REALTORS® Duties of Disclosure Duties to Buyers Duties to Clients and Customers Duties to Sellers Duties of Agency Duties to the Public Duties of Honesty - CORRECT ANSWER Duties to REALTORS®,Duties to Clients and Customers,Duties to the Public Articles of the Code are: a. cited when a REALTOR® is alleged to have violated the Code.