MODULE 5 PART 1

Question 1

Who does the code of ethics apply to?

Answer 1

All registrants

Question 2

Who introduced the the code of ethics?

Answer 2

RECO

Question 3

REBBA consists of the statue,

Answer 3

& 5 regulations

Question 4

Who administers the code of ethics?

Answer 4

RECO

Question 5

How long does RECO’s website publish a copy of the Discipline Committee’s decision

Answer 5

minimum of 60 months

Question 6

The act requires a SP must be __ _ ___ to trade

Answer 6

notified in writing that (they are registered with RECO)

Question 7

Under this act property managers can arrange leases

Answer 7

residential tenancies act

Question 8

Activities of a BOR

Answer 8

• ensure compliance with REBBA for both registered and non
• actively participate in day to day management
• ensure adequate levels of supervision
• steps to correct non compliant behaviour

Question 9

Sole propreitor

Answer 9

owner of brokerage and BOR

Question 10

Effects registrations

Answer 10

past conduct
outstanding financial debts
non-disclosure

Question 11

2 offence consequences

Answer 11

warning + course

Question 12

3rd offence consequences

Answer 12

discipline hearing + fine up to 25000 for BOR and/or sales rep

Question 13

intent of temporary suspension

Answer 13

ensure consumer protection while the registrant’s fitness is considered

Question 14

Registrar proposal

Answer 14

identifies action being taken against registrant, and its reasons

Question 15

Registrar proposal can be appealed

Answer 15

within 15 days to the license appeal tribunal

Question 16

The director

Answer 16

appoints investigators

Question 17

Offences related to the act are processed in accordance with the

Answer 17

provincial offences act

Question 18

provincial offences act outlines

Answer 18

procedures of legal prosecution

Question 19

if convinced of an offence a person could be subject to

Answer 19

50,000 fine and/or prison terms of up to 2 years

Question 20

corporations are subject to fines up to

Answer 20

250,000

Question 21

Appeals committees can

Answer 21

overturn, affirm or modify the order of the discipline committee