ETH001 Exam Questions
A study by the American Society of Executives found that ________ of associations fully enforce their
ethics codes - ✔✔1/3
Ethics comes from the Greek word "ethos" meaning - ✔✔Character
Ethics involves a ________ effort of studying our own moral belief and conduct - ✔✔Continuous
An unethical action is _______ illegal - ✔✔Sometimes
Who is required to uphold the IREM Code of Ethics? - ✔✔CPM Members, CPM Candidates, ARM
Members, ACOM Members, and Associate Members
Ethics for an organization such as IREM, are defined as - ✔✔standards governing the conduct of
members of the profession
How many articles are there in the IREM Code of Ethics - ✔✔14
Which article requires that an IREM member offer equal professional services to all persons? -
✔✔Article 11: Equal Opportunity
Which article requires an IREM Member to provide the institute any significant, factual information
that reasonably suggests another may have violated the IREM Code of Professional Ethics -
✔✔Article 13: Duty to Report Violations
The IREM Member Pledge can be cited for ethics violations. True or false? - ✔✔True
An IREM Member was found by his real estate licensing agency to have violated certain state license
laws. If an ethics complaint is filed against him which article would be cited? - ✔✔Article 10:
Compliance with Laws and Regulations
A real estate manager, he himself an IREM Member, was preparing a complaint against a CPM
Candidate who had worked for him several months ago. The basis of the complaint was that the
former employee had been making derogatory comments against his former employer. Which
article/s should be cited by the manager who is drafting the complaint? - ✔✔Article 9: Duty to Former
Clients and Former Firms or Employers
An IREM Member found herself in a difficult financial position and needed $300 to get her through
this rough period. Knowing that the money would never be missed, she removed $300 from the petty
, cash fund of a property she managed, intending to pay it back over time. Which articles of the Code
were violated in this case? - ✔✔Article 1: Loyalty to Client, Firm, and/or Employer,
Article 8: Managing the Assets of the Client
An IREM Member is responsible for purchasing all maintenance supplies for the office building he
manages. One supplier has offered him a rebate of two percent off the total order if he places the
order with him. If the Member personally keeps the rebate, which articles of the code does this
violate? - ✔✔Article 1: Loyalty to Client, Firm, and/or Employer
Article 7: Conflict of Interest
Maintaining accurate records of a property's operation is good real estate management, but there is
no ethical obligation to do so under the code. True or false? - ✔✔False
The owner of a small rental property just received a bill from the management company for repair
work done to the property. The management company did not consult with the property owner to get
authorization to complete the repairs. The IREM Member assigned to the account admitted that
proceeding with the repairs exceeded the authority allowed under the management agreement. If a
complaint were to be filed, which section of the IREM Code of Professional Ethics would be most
appropriate to cite? - ✔✔Article 8: Managing the Assets of the Client
The owner of a small rental property just received a bill from the management company for repair
work done to the property. The management company did not consult with the property owner to get
authorization to complete the repairs. The IREM Member assigned to the account admitted that
proceeding with the repairs exceeded the authority allowed under the management agreement. What
steps could the manager have taken to avoid this situation? - ✔✔Review the management contract
Make all staff aware of authorization limits
Consult the owner
An IREM Member terminated one of his residential managers because the residential manager
refused to discriminate against a female applying for a maintenance staff position. The female who
applied was well-qualified for the job and had years of experience. If a complaint were to be filed,
which section of the IREM Code of Professional Ethics would be most appropriate to cite? -
✔✔Article 11
An IREM Member terminated one of his residential managers because the residential manager
refused to discriminate against a female applying for a maintenance staff position. The female who
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