2020 CCAR Code of Ethics Quiz #4

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Your Name (Required.)

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Firm Name and City (Required.)

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1. REALTOR® Jake secures a new exclusive listing to sell one of Seller David’s many rental properties. REALTOR® Rachel later approaches Seller David to discuss property management services she could provide for some of his other rental properties. Is REALTOR® Rachel acting consistent with the duties of Article 16?

Yes

No

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2. A Buyer’s Agent presents an offer and the listing agent notifies Buyer’s Agent that the commission has been reduced. This can only occur when…

Never. Once they are agreed to the Listing Agreement, they can never be changed.

During the time the buyer and seller are negotiating it can be added to the counter-offer.

Prior to the time that REALTOR® submits an offer to purchase the property.

The listing agent can ask the escrow officer to change the commissions while reviewing terms to close escrow.

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3. REALTOR® Josh used the MLS to identify several properties listed with other agents that he wants to advertise in the local newspaper. REALTOR® Josh disclosed the listing firm name and the MLS number next to each property in the ad. However, REALTOR® Josh did not obtain permission from each listing broker to advertise their properties. Are REALTOR® Josh’s actions consistent with the duties of Article 12?

Yes

No

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4. Now that Clear Cooperation is in effect what type of marketing triggers the policy and requires inputting of the listing into the MLS?

Flyers displayed in windows and/or yard signs

Digital marketing on public facing websites and/or brokerage website displays (including IDX and VOW)

Digital communications marketing (email blasts) and/or multi-brokerage listing sharing networks

All the above

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5. REALTOR® Dipendra contacts listing REALTOR® Eve on behalf of his client, who is interested in purchasing a home that Eve has listed. Dipendra must disclose all of the following to Eve EXCEPT:?

His status as a REALTOR®.

The fact that his interest in the property is on behalf of a client.

What his representational status is.

The amount of compensation he expects to collect for his role in closing the transaction.