Ch 44 Quiz
Which of the following situations could result in arbitration?
A REALTOR claims that she has a right to another REALTOR'S commission.
Which of the following is a correct statement regarding ethics and laws?
Ethical reasoning often requires one to go beyond the basic requirements of the law.
Procuring cause is determined by _______.
Hearing Panel guidelines contained in the Code of Ethics and Arbitration Manual.
Which of the following statements regarding procuring cause is false?
It is determined by a specific set of rules.
Which of the following statements is true of mediation?
Mediation can save time and money and is more informal than arbitration.
The Golden Rule is part of the _______.
Preamble.
Can a REALTOR who follows the letter of the law find that he has violated the Code of Ethics?
Yes. Ethical reasoning sometimes goes beyond the basic requirements of the law.
Since the inception of the Code of Ethics, REALTORS have been required to _______.
arbitrate rather than litigate.
The Code of Ethics requires that REALTORS _______.
arbitrate.
The Preamble of the Code of Ethics contains _______.
aspirational concepts.
The Standards of Practice may not _______.
be cited for Code of Ethics violations.
Articles of the Code of Ethics do not address _______.
commission splits for cooperating brokers.
The three categories of the Articles include _______.
duties to clients and customers, duties to the public, and duties to REALTORS.
Complaints enforced by the local association/board of REALTORS are _______.
ethics complaints and arbitration requests.
The two types of complaints handled by the Grievance and Professional Standards Committees of the local board/association are _______.
ethics complaints and arbitration requests.
Discipline for a violation of the Code of Ethics may include _______.
expulsion from board membership for one to three years.
The Code of Ethics is referred to as a living document because _______.
it is routinely being reviewed and revised based on changes in the industry.
Concepts in the Preamble include all the following EXCEPT _______.
listing properties at market value.
In a mediation procedure, the agreement is determined by the _______.
mediating parties.
The Articles of the Code of Ethics stress the REALTOR's obligation to _______.
put agreements in writing and keep them current with written extensions and amendments.
The primary purpose of the ______ is to protect the public.
the Preamble
In a real estate company, an emphasis on sound ethical and moral behavior must begin with _______.
the owner and manager.
"Due process" includes all the following except _______.
the right to appeal to the state licensing authority.
The purpose of the Code of Ethics is _______.
to protect the public.