Question 1

___ is essentially a psychological agreement by which the people band together for their own good.

Accepted Answer

The answer of ___ is essentially a psychological agreement by...

Question 2

NAR requires real estate agents and brokers to compensate all other real estate agents and brokers whose cooperation led to a commission.

Accepted Answer

A) True 
 B)False

Question 3

Real estate agents and brokers in NAR must not buy or present offers from themselves, their immediate family, their firms and the firm's members, or any entity in which they have an ownership interest without making their true position known to the owner or the owner's agent.

Accepted Answer

A) True 
 B)False

Question 4

A real estate agent or broker in NAR need not disclose the fact that she is a real estate professional when soliciting for her firm through a mailing campaign.

Accepted Answer

A) True 
 B)False

Question 5

The National Association for Realtors (NAR)  Code of Ethics is divided into three major sections based on the common stakeholders in real estate transactions. What are these three groups of stakeholders?

Accepted Answer

A)   realtors
B)   clients and customers
C)   minorities and women
D)   lenders
E)   the publicF) A) and B)
G) A) and C)

Question 6

What should a real estate agent or broker who is a member of NAR do if they are accused of an ethical violation?

Accepted Answer

A)   remain silent and only offer what is asked of them for review
B)   proactively offer all the documentation related to the alleged infraction and make themsleves available for inquiry
C)   file suit against their accuser for defamation
D)   be forthcoming and helpful, offering all information that is asked of them by the professional standards proceeding to investigate the claim
E)   a real estate professional has no obligation to help or hinder the investigation and can act as she sees fitF) A) and B)
G) None of the above D

Question 7

Which of the following are responsibilities that real estate agents and brokers have to clients and customers under the National Association for Realtors (NAR) ?

Accepted Answer

A)   to discover latent defects on a property
B)   to avoid exaggerating, misrepresenting, or concealing facts
C)   to reveal their ownership or interest in applicable transactions
D)   to keep a special account for monies that are left in their care
E)   in the event of disputes between real estate agents or brokers associated with different firms, the disputing parties accept mediation if the board deems mediation as necessaryF) A) and E)
G) A) and D) B, C, D

Question 8

What action is prescribed by the NAR Code of Ethics if a real estate agent or broker wants to recommend a product or service that will result in their own financial compensation?

Accepted Answer

A)   include their benefit within the writing of the contract
B)   disclose their interest to the client
C)   ensure the product or service is truly valuable to the client
D)   document that the product or service is the best available and therefore that the client's interests were served
E)   the NAR code of ethics does not prescribe any actionF) A) and C)
G) B) and E)

Question 9

Consequentialism is sometimes referred to as ___ ethics.

Accepted Answer

The answer of Consequentialism is sometimes referred to as ___...

Question 10

Consumers can register complaints with the ___, a consumer advocacy group, if they feel they have been dealt with unfairly.

Accepted Answer

the Better Business Bureau (BBB)

Question 11

Real estate agents associated with NAR are pledged to protect and promote the interests of their client alone and have no ethical obligations to other parties.

Accepted Answer

A) True 
 B)False

Question 12

The duties test is grounded in what ethicists refer to as ___ ethics.

Accepted Answer

The answer of The duties test is grounded in what...

Question 13

The ___ is refered to as 'preference utilitarianism' among philosophers and ethicists.

Accepted Answer

The answer of The ___ is refered to as 'preference...

Question 14

Which of the following are responsibilities real estate agents and brokers have to the public, as per the National Association of Realtors (NAR)  Code of Ethics?

Accepted Answer

A)   to use clear and understandable language in written agreements
B)   to offer simple legal advice when capable and recommend obtaining legal counsel when incapable
C)   to not deny equal services on account of race, gender, or sexual orientation
D)   to not knowingly make false or misleading statements about another real estate professional
E)   to conform to a standard level of competence expected of a real estate professionalF) B) and D)
G) None of the above

Question 15

Misrepresentation of competitors is only unethical if the misrepresentation is done intentionally.

Accepted Answer

A) True 
 B)False

Question 16

NAR requires real estate agents and brokers to inspect properties so they are aware of defects, and further requires them to convey this information without exaggeration or misrepresentation to those who have a vested interest.

Accepted Answer

A) True 
 B)False

Question 17

___ is the antithesis of competition.

Accepted Answer

The answer of ___ is the antithesis of competition....

Question 18

___ is a group of ethical theories asserting that the consequences of one's action should be the basis for any judgment about the rightness or wrongness of that action.

Accepted Answer

The answer of ___ is a group of ethical theories...

Question 19

Real estate agents and brokers can provide specialized professional services outside their field of competence, as long as this fact is fully disclosed and acccepted by their client.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following are responsibilities real estate agents and brokers have to other real estate agents and brokers and real estate businesses and business practices?

Accepted Answer

A)   to not knowingly make false or misleading statements about another real estate professional
B)   to reveal interests in real estate transactions involving property owned by the real estate professional
C)   to mediate or arbitrate disputes, instead of litigating
D)   to show professional courtesy at social functions organized by NAR
E)   to not circumvent exclusive brokerage deals arranged by other real estate professionalsF) A) and E)
G) B) and C)

Exam 13: Code of Ethics in Real Estate Marketing

___ is essentially a psychological agreement by which the people band together for their own good.

Correct AnswerverifiedShow Answer

NAR requires real estate agents and brokers to compensate all other real estate agents and brokers whose cooperation led to a commission.

Correct AnswerverifiedShow Answer

Real estate agents and brokers in NAR must not buy or present offers from themselves, their immediate family, their firms and the firm's members, or any entity in which they have an ownership interest without making their true position known to the owner or the owner's agent.

Correct AnswerverifiedShow Answer

A real estate agent or broker in NAR need not disclose the fact that she is a real estate professional when soliciting for her firm through a mailing campaign.

Correct AnswerverifiedShow Answer

The National Association for Realtors (NAR) Code of Ethics is divided into three major sections based on the common stakeholders in real estate transactions. What are these three groups of stakeholders?

Correct AnswerverifiedShow Answer

What should a real estate agent or broker who is a member of NAR do if they are accused of an ethical violation?

Correct AnswerverifiedD

Which of the following are responsibilities that real estate agents and brokers have to clients and customers under the National Association for Realtors (NAR) ?

Correct AnswerverifiedB, C, D

What action is prescribed by the NAR Code of Ethics if a real estate agent or broker wants to recommend a product or service that will result in their own financial compensation?

Correct AnswerverifiedShow Answer

Consequentialism is sometimes referred to as ___ ethics.

Correct AnswerverifiedShow Answer

Consumers can register complaints with the ___, a consumer advocacy group, if they feel they have been dealt with unfairly.

Correct Answerverifiedthe Better Business Bureau (BBB)

Real estate agents associated with NAR are pledged to protect and promote the interests of their client alone and have no ethical obligations to other parties.

Correct AnswerverifiedShow Answer

The duties test is grounded in what ethicists refer to as ___ ethics.

Correct AnswerverifiedShow Answer

The ___ is refered to as 'preference utilitarianism' among philosophers and ethicists.

Correct AnswerverifiedShow Answer

Which of the following are responsibilities real estate agents and brokers have to the public, as per the National Association of Realtors (NAR) Code of Ethics?

Correct AnswerverifiedShow Answer

Misrepresentation of competitors is only unethical if the misrepresentation is done intentionally.

Correct AnswerverifiedShow Answer

NAR requires real estate agents and brokers to inspect properties so they are aware of defects, and further requires them to convey this information without exaggeration or misrepresentation to those who have a vested interest.

Correct AnswerverifiedShow Answer

___ is the antithesis of competition.

Correct AnswerverifiedShow Answer

___ is a group of ethical theories asserting that the consequences of one's action should be the basis for any judgment about the rightness or wrongness of that action.

Correct AnswerverifiedShow Answer

Real estate agents and brokers can provide specialized professional services outside their field of competence, as long as this fact is fully disclosed and acccepted by their client.

Correct AnswerverifiedShow Answer

Which of the following are responsibilities real estate agents and brokers have to other real estate agents and brokers and real estate businesses and business practices?

Correct AnswerverifiedShow Answer

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D

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B, C, D

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the Better Business Bureau (BBB)

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