Chapter 3.2: Code Of Ethics (old)

Question 1

2 duties of an agent

Answer 1

• to follow all laws

- the highest duty is owed to public, not to client

Question 2

Purpose of code of ethics

Answer 2

To do with the morality of the daily business conduct of professionals

Question 3

Code of Ethics

_____________________ adopted by members of a professional association

Answer 3

Written codes voluntarily

Question 4

Code of Ethics

Set a ____________________ required by association, not by law

Answer 4

Minimum standard of conduct

Question 5

Code of Ethics

_____________ of the profession in the eyes of public

Answer 5

Maintain the reputation

Question 6

Code of Ethics

Provide ___________ to ensure that human actions are morally fair as well as lawful

Answer 6

Guidelines

Question 7

Code of Ethics

The ______________ is owed to the public and then your client

Answer 7

Highway duty

Question 8

Professional Associations

Answer 8

BCREA - real estate boards

Can’t cancel your license remember

Question 9

Ethics definition

Answer 9

The science of morals, the department of study concerned with the principle of human duty and the moral principles by which a person is guided

Question 10

Golden rule

Answer 10

Do unto others as you would have them do unto you

Question 11

Due to a breach of code, what can happen!

Answer 11

Can cancel and suspend your membership in a real estate board but does not cancel your license

Question 12

The duty of professional courtesy and good faith

Answer 12

• As a duty owed to one’s profession
• when one of its members does something calculated to cause injury to a colleague
• undertakings (special promises and understanding between professionals)

Question 13

Duty of competence

Answer 13

It is necessary that professionals be competent within their area of expertise

Question 14

Duty to advise fully and honestly

Answer 14

Both good and bad news are imparted to a client regardless of the fact that this degree of honesty may, on occasion, result in a loss of business

Question 15

Duty of confidentiality

Answer 15

The only duty that will last for a lifetime

Includes the duty to keep confidential any facts or information

Question 16

Penalties if you break ethical rules

Answer 16

• reprimand
• suspension of membership privileges
• a monetary fine by the hearing panel
• expulsion from membership

Question 17

The decision of a disciplinary committee must be in _________ and specify any discipline impose

Answer 17

Writing

Question 18

Of all the penalties what is one that cannot take place

Answer 18

They cannot take your license away from you

And they can never make you do community service or voluntary work