Chapter 6 Quiz Flashcards
The Canons of Professional Ethics and Conduct discusses:
A. Fidelity
B. Integrity
C. Competency
D. All of the above
531.1 Fidelity, of The Canons of Professional Ethics and Conduct states:
A. That the primary duty of the real estate agent is to represent the interest of the agent’s client
B. That the real estate agent be faithful and observant to trust placed in the agent
C. That the real estate agent place no personal interest above that of the agent’s client
D. All of the above
D. All of the above
531.19 of The Canons of Professional Ethics and Conduct states the license holder shall:
A. Not discriminate
B. Always receive a commission
C. Have a sponsoring broker
D. Renew their license every year
A. Not discriminate
The rules of the Real Estate Commission:
A. Are commended to be followed
B. Have full force and effect of law
C. Are for us with brokers who are member of the Board of REALTORS®
D. Are given to the states by NAR (the National Association of REALTORS®)
B. Have full force and effect of law
Salespeople may transact real estate without a broker.
A. True
B. False
B. False
All commissions are paid to ________________.
A. The broker
B. The agent
C. The lender
D. The title company
A. The broker
Who writes the Code of Ethics and Standards of Practice?
A. The Texas Real Estate Commission
B. The local Board of REALTORS® creates their own.
C. The National Association of REALTORS®
D. Brokers who have 100 agents or more create their own.
C. The National Association of REALTORS®
The agent’s competency is determined by their:
A. Ability to pass the state exam
B. Scoring at least 90% on all of their pre-licensing courses
C. Listing 20 properties within their first 6 months in the business
D. Being able to fill out an essay application to obtain a license
A. Ability to pass the state exam
The term “fiduciary” is also called:
A. Faith
B. Loyalty
C. Trust
D. Amiable
C. Trust
