Unit 13- Current Ethics

Question 1

With regard to the current real estate market, which of the following statement is NOT true?

Answer 1

By the 2010, mobs of the subprime lenders were out of business or bankrupt

Question 2

The MOST important duty for the listing agent at a multiple offer presentation is to

Answer 2

Be sure that only one offer is designated as primary

Question 3

Manny of today’s brokers have a policy against making cold calls coliciting new business. This is manly due to the fact that

Answer 3

Ther is a $16000 fine for each violation of the National Do Not Call Registry

Question 4

An extremely competitive marketplace may lead to all of the following except

Answer 4

An increase in listing

Question 5

Which of the following activities would be allowed under RESPA regulations?

Answer 5

A mortgage lender paying for a diner where business is discussed

Question 6

The requirement for all brokerage firms to destroy all personal information about their clients before disposing of the paperwork is a part of federal legislation named

Answer 6

FACTA

Question 7

FACTA applied to

Answer 7

Security of confidential information

Question 8

Aggressive business practices that tend to appear in a hot market where demand exceeds supply include all of the following EXCEPT

Answer 8

Magazine Advestising

Question 9

Exceptions to the RESPA rules include all of the following EXCEPT

Answer 9

Payments for referrals for real estate-related services

Question 10

In a transaction where the agent does Not represent either the buyer or the seller, the agent is most likely serving as

Answer 10

Transaction broker

Question 11

The type of representation that is MOST likely to cause problems with a cooperating broker is

Answer 11

Limited representative

Question 12

Several brokers from the west side of town had a luncheon meeting and discussed boycotting the new discount broker who had just opened an office in that area. The brokers would be in violation of

Answer 12

The Sherman Antitrust ACT

Question 13

All of the following are considered to be relatively new business models in real estate brokerage EXECEpt

Answer 13

Buyer agency

Question 14

All of the following statements are true regarding the Do Not Call Registry are true EXCEPT

Answer 14

An agent is allowed to call all former clients

Question 15

Broker Bob is free to offer a discount on his regular brokerage services to any of the following EXEPT

Answer 15

A purchasers of Brokers Bob’s listing

Question 16

All of the following entities are subject to RESPA regulations EXCEPT

Answer 16

Property managers

Question 17

Which of the following is NOT required under RESPA regulations?

Answer 17

Destruction of confidential information