Chapter 9

Question 1

TF? The CREA’s Code of Conduct imposes a higher standard of conduct on real estate professionals than the Real Estate Services Act.

Answer 1

True

Question 2

TF? Most ethical codes of conduct are passed by government agencies

Answer 2

False. Most ethical codes of conduct are passed by professional associations as a condition of membership

Question 3

A real estate professional’s duty of confidentiality is owed to:

Answer 3

clients only

Question 4

A person who holds a position of trust with respect to someone else and is obliged, by virtue of that relationship, to act solely in the other person’s benefit is a ___.

Answer 4

fiduciary

Question 5

TF? Ethical codes of conduct have the same force of law as statutes.

Answer 5

False. Ethical codes of conduct are voluntarily adopted by certain members of the public that wish to be a part of a professional association. Members of the public do not have the choice of voluntarily adopting the obligations contained in statutes.