Real Estate Ethics: Importance & General Concepts


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question 1 of 3

What is the main purpose of the Code of Ethics and canons of ethics for the real estate industry?

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1. Which of these is an example of a penalty for a violation of the code of ethics?

2. A buyer claims a real estate agent intentionally misstated a material fact regarding a property. Which unethical practice is the licensee accused of?

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About This Quiz & Worksheet

This quiz has been designed to measure what you understand concerning the importance of having a system of ethics in the real estate industry. Some of the quiz questions provide definitions, and you must choose the appropriate matching terms. Other questions will test your conceptual knowledge of ethics in this field.

Quiz & Worksheet Goals

Make use of these assessment tools to judge how well you comprehend the following:

  • Ethics and their purpose in real estate
  • Who realtors should strive to protect
  • Unethical practices and terms
  • Articles of the Code of Ethics
  • Grievance Committee and ethics enforcement

Skills Practiced

Going through this quiz and worksheet will help you improve the following skills:

  • Critical thinking - apply relevant concepts to examine information about unethical practices in a different light
  • Interpreting information - verify that you can read information regarding Articles of the Code of Ethics and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the reasons for ethics in the real estate industry

Additional Learning

To gain knowledge beyond the topics covered on the quiz, review the connected lesson, Real Estate Ethics: Importance & General Concepts. Some of the additional topics you will go over are as follows:

  • Ethics contributions from the National Association of Realtors (NAR)
  • Differences between standards of practice and articles
  • Ethical violations and disciplinary protocols