unit 3 standards of conduct Flashcards
t/f
a listing contract form approved by TREC must include a provision informing the parties to the contract that real estate commission are negotiable
false
t/f
a broker who maintains a trust must keep a record of all account deposits and withdrawals for a period of seven years
false
t/f
a real estate broker or sales agent has a special obligation to exercise integrity in the discharge of the license holder’s responsibilites
true
t/f
sales agents may receive a referral fee from a broker other than their sponsoring broker
false
t/f
license holders may have their license revoked or suspended for offering property for sale by means of a lottery
false
t/f
license holders may place a for sale sign on a vacant lot next to their own property without the consent of the property owner so that they may capture buyers
false
t/f
all parties in a transaction have the right to receive all documents that have their signature or initials on the documents
true
t/f
under the canons of professional ethics and conduct, fidelity provides that a real estate broker or sales agent, while acting for another, is a fiduciary. this demands that the primary duty of the real estate agent is to represent the interests of the client, and the brokerage’s position, in this respect, would be implied to all parties concerned in a real estate transaction
false
t/f
displaying the consumer protection notice is evidence of nondiscriminatory practice
false
t/f
property management agreements are not bound to the same requirements of other representation agreements in regards to a definite termination date
true
the canons of professional ethics and conduct includes which of the following
fidelity
all of the following are included in the canons of professional ethics and conduct except
reasonable skill and care
which canon of the canons of professional ethics and conduct provides, “a license holder, while acting as an agent, is a fiduciary and must put the principal’s interest above all others, including the agent’s. all license holders are expected to deal fairly with all parties”?
fidelity
which canon of the canons of professional ethics and conduct provides, “a license holder must be prudent and cautious to avoid all acts of misrepresentation”?
integrity
a license holder must be knowledgeable and informed and exercise judgment and skill. a license holder is considered “competent” to engage in real estate brokerage activities by completing
all of the prelicensing courses and passing the licensing exam
all the following are grounds for suspension, revocation, or denial of a license except
advising a buyer to get an abstract or title insurance policy
all the following are grounds for suspension, revocation, or denial of a license except
providing copies of all signed documents to the signing parties
all of the following are ground for suspension, revocation, or denial of a license except
identifying the name of the broker of record or name of the designated broker in an advertisement
a sales agent lists a property for sale for a period of 180 days with the provision for the listing to automatically renew at the end of 180 days for an additional 90 days. does this in any way put the sales agent at risk of having any type of disciplinary action taken against him?
yes. disciplinary action could be taken for failing to sate a definite termination date.