Part 8 Flashcards
A REALTOR® is helping their city design walkable neighborhoods with mixed-use development and access to public transit. Which NAR program would BEST support this effort?
A.
Good Neighbor Awards
B.
Smart Growth Program
C.
REALTORS® Relief Foundation
D.
Housing Opportunity Program
B
Which of the following BEST reflects NAR’s strategy to support social equity and equal access within the real estate profession?
A.
Housing Opportunity Program and REALTORS® Relief Foundation
B.
Good Neighbor Awards and Smart Growth Program
C.
Diversity and Inclusion Programs
D.
REALTOR® Party initiatives at the federal leve
C
Which NAR initiative is most directly involved in promoting public policies and supporting political candidates who align with real estate goals?
A.
Housing Opportunity Program
B.
Smart Growth Program
C.
REALTOR® Party
D.
Diversity and Inclusion Programs
C
Which of the following BEST describes the intent of NAR’s Fair Housing Action Plan, launched in 2020?
A.
To increase property values in underserved communities through zoning changes.
B.
To provide financial assistance to clients facing housing discrimination lawsuits.
C.
To hold REALTORS® accountable for actively promoting equality in housing through education, policy, and practice changes.
D.
To enforce disciplinary action for members involved in non-compliant mortgage lending.
C
Why is implicit bias training a key part of NAR’s fair housing strategy?
A.
It helps REALTORS® complete required continuing education hours for license renewal.
B.
It promotes self-awareness among REALTORS® to reduce unconscious discriminatory behavior during real estate transactions.
C.
It replaces the legal obligations outlined in the Fair Housing Act with voluntary guidelines.
D.
It is required by HUD for all real estate licensees in the U.S.
B
The Fair Housing Declaration encouraged by NAR serves what main purpose?
A.
To offer legal protection to brokers in fair housing lawsuits.
B.
To comply with federal law by mandating all agents report housing discrimination.
C.
To provide a written public commitment by REALTORS® to offer equal service and support the Fair Housing Act.
D.
To replace the need for state-level ethics training.
C
Under Texas practice, when a brokerage is a member of NAR, what is the typical requirement for its associated license holders?
A.
They must apply for independent licensing through the state association before joining the brokerage.
B.
They are automatically enrolled in the association but can opt out if they disagree with the Code of Ethics.
C.
They must also join the association in order to access MLS and comply with the brokerage’s NAR membership.
D.
They are restricted from joining other real estate associations without broker approval.
C
Which of the following would NOT typically be considered an advantage of requiring association membership within a brokerage?
A.
Increased access to continuing education for agents.
B.
Higher likelihood of agent loyalty to the brokerage.
C.
Stronger professional branding through the brokerage’s network.
D.
Legal protection from state regulatory investigations.
D
What is a potential legal risk if a brokerage mandates association membership without clearly communicating the benefits and obligations?
A. The agents may collectively file for brokerage restructuring
B. The local association can revoke the brokerage’s MLS access
C. The policy may be challenged as an unfair trade practice or restriction of freedom of association
D. There is no legal risk; membership can always be mandated unconditionally
C
- Which of the following best reflects a brokerage’s legal responsibility when requiring association membership in Texas?
A. The broker must ensure that every agent joins NAR to access MLS
B. The broker should offer all agents a waiver form to decline membership
C. The broker must consult legal counsel to confirm compliance with applicable laws
D. The broker is required to cover 100% of the membership fees for new agents
c
Which approach most effectively supports agent buy-in for a mandatory association membership policy?
A. Enforcing the policy strictly from day one
B. Providing MLS access only to those who pay first
C. Educating agents about membership benefits and value
D. Making membership optional for part-time agents
C
Under TRELA, which of the following actions would most likely result in disciplinary action by TREC?
A. Paying a referral fee to an unlicensed individual for a lead
B. Sharing commission with a licensed agent in another state
C. Displaying the brokerage license number on all social media posts
D. Refusing to accept listings below market value
A
What is the primary purpose of the Texas Real Estate License Act (TRELA)?
A. To set commission standards across the state
B. To protect the public through licensing and regulation of real estate professionals
C. To manage property taxes and assessments
D. To determine fair housing enforcement procedures
B
A brokerage fails to track an agent’s CE completion, and the agent’s license lapses. What is the most likely consequence for the broker?
A. No consequence unless a consumer files a complaint
B. The broker may face penalties for failing to supervise licensing compliance
C. The broker must pay a fine to reinstate the agent’s license
D. The agent will be allowed to operate under provisional status
B
A real estate brokerage trains its agents to provide accurate property data and avoid any form of misrepresentation. This practice fulfills which of the following obligations under TRELA?
A. Advertising compliance only
B. Fiduciary duties to the client
C. Statutory duty to treat all parties honestly and fairly
D. Broker-to-broker communication standards
C
According to TRELA, which of the following best demonstrates a brokerage’s compliance with ethical conduct standards?
A. Publishing an annual ethics statement on its website
B. Mandating monthly ethics meetings and acting on reported violations
C. Allowing agents to make their own judgment calls on disclosures
D. Requiring agents to submit a written report after every transaction
B
An agent is offered a bonus by a homebuilder to steer clients toward that builder’s properties. Accepting this bonus without full disclosure to the client would be considered:
A. A normal business practice if the bonus is under $500
B. Acceptable if the agent discloses it to the brokerage only
C. A conflict of interest and a violation of TRELA if not disclosed to the client
D. Permissible if approved by the brokerage
C
- Which of the following is considered astroturfing?
A. Creating blog posts to promote listings
B. Using staged home photos in listings
C. Posting fake positive reviews to boost reputation
D. Paying for social media ads
C
- What is an example of a “bait and switch” in real estate advertising?
A. Pricing a home below market value to sell it fast
B. Advertising a property, then pushing a different higher-priced one after saying it’s no longer available
C. Using social media to highlight only one property
D. Listing a property as “for sale by owner” without a license
B
- What is cybersquatting?
A. Setting up a fake property website
B. Using SEO tricks to outrank competitors
C. Registering a domain using another company’s trademark to profit from it
D. Advertising listings without the seller’s permission
C
- A person registers “BerkshierHathaway.com” to steal web traffic from the real company. This is an example of:
A. Domain hijacking
B. Typosquatting
C. Cybersquatting
D. Spoofing
B
- What is the main intent behind domain name frontrunning?
A. Securing a name before launching a new business
B. Registering names based on recent searches to resell them at a profit
C. Protecting an established brand
D. Redirecting users to a social media page
B
Which of the following is not a type of domain-based unfair competition?
A. Typosquatting
B. Cybersquatting
C. Frontrunning
D. Buying a domain for your own new brokerage name
D
- What is price fixing in a real estate context?
A. Charging clients for extra marketing services
B. Two brokerages agreeing to set commission rates at the same percentage
C. A brokerage changing its rates based on market demand
D. Setting flat fees for property management services
B
