GRI Brokerage Exam Questions and Answers All Correct
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Module
GRI Brokerage
Institution
GRI Brokerage
GRI Brokerage Exam Questions and Answers All Correct
What is important to know about your E&O policy? - Answer-If there are exclusions, are claims costs (attorney fees) covered, is there tail coverage/prior acts coverage, cost
What does TREC require of a Broker's agency policy? - Answer-That...
GRI Brokerage Exam Questions
and Answers All Correct
What is important to know about your E&O policy? - Answer-If there are exclusions, are
claims costs (attorney fees) covered, is there tail coverage/prior acts coverage, cost
What does TREC require of a Broker's agency policy? - Answer-That it is in writing
What do the canons require of an agent? - Answer-To be competent
What is the basic premise that the code of ethics is based on? - Answer-Service to the
public
What service is offered in a dispute at the point of inquiry before it goes to mediation or
arbitration? - Answer-Ombudsman services
What components must be present for an anonymous complaint to move forward with
NAR? - Answer-It must be provided, must have sufficient documentation, must violate
articles in the code of ethics
Who can file an ethics complaint? - Answer-Anyone
What is the timeframe to submit an ethics complaint? - Answer-Within 180 days of the
discovery of the facts
Who has authority over an agent's license? - Answer-TREC
What is the purpose of the Texas Deception Trade Practices Act (TDTPA)? - Answer-To
protect consumers against false/misleading practices, unconscionable actions,
breaches of warranty
How much notice must a consumer give to the defendant before filing a lawsuit under
TDTPA? - Answer-60 days
Antitrust violations usually occur within one of three areas; the practice of any of these
harms the public - Answer-Price fixing, boycotting a competitor, allocation of customers
or resources
What must Realtors NOT do? - Answer-Anything outside of the scope of their expertise
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