[GRI] GRI Graduate REALTOR Institute
Certification Exam Preparation Guide
**Question 1.** Which NAR Code of Ethics article requires REALTORS® to protect and promote
the interests of the public?
A) Article 1
B) Article 2
C) Article 12
D) Article 17
Answer: A
Explanation: Article 1 states that REALTORS® must protect and promote the public interest.
**Question 2.** An agent who receives a complaint about a possible ethics violation should
first:
A) File a lawsuit against the complainant
B) Attempt to resolve the issue informally through the Professional Standards process
C) Ignore the complaint until a formal arbitration is scheduled
D) Notify the local MLS board immediately
Answer: B
Explanation: The Professional Standards process encourages informal resolution before formal
arbitration.
**Question 3.** In a procuring‑cause dispute, which factor is most critical to the hearing panel?
A) The number of open houses held by the broker
B) Evidence showing which agent’s activities directly led to the sale contract
C) The seller’s personal preference for an agent
D) The price difference between competing offers
Answer: B
Explanation: Panels focus on who produced the decisive act that resulted in the sale.
, [GRI] GRI Graduate REALTOR Institute
Certification Exam Preparation Guide
**Question 4.** The Fair Housing Act prohibits discrimination based on all of the following
EXCEPT:
A) Race
B) National origin
C) Age
D) Familial status
Answer: C
Explanation: Age is not a protected class under the Fair Housing Act.
**Question 5.** Under the ADA, a real‑estate professional must:
A) Provide sign‑language interpreters for every showing
B) Ensure that common areas of multifamily housing are accessible to persons with disabilities
C) Install wheelchair ramps in every single‑family home they list
D) Offer discounts to disabled buyers
Answer: B
Explanation: The ADA requires reasonable accessibility in common areas of multifamily
dwellings.
**Question 6.** Which fiduciary duty requires an agent to disclose any personal interest in a
transaction?
A) Loyalty
B) Confidentiality
C) Disclosure
D) Accounting
Answer: C
, [GRI] GRI Graduate REALTOR Institute
Certification Exam Preparation Guide
Explanation: The duty of disclosure obligates agents to reveal material facts, including personal
interests.
**Question 7.** Dual agency is considered a pitfall because:
A) It eliminates the need for a written contract
B) It creates a conflict of interest that can impair loyalty to both parties
C) It allows the broker to charge double commission automatically
D) It is prohibited in all states
Answer: B
Explanation: Representing both buyer and seller can compromise the agent’s duty of loyalty.
**Question 8.** Which activity would likely violate antitrust law?
A) Sharing market data with a competitor
B. Holding a joint open house with another broker
C) Agreeing with other agents to set a minimum commission rate
D) Referring clients to a preferred lender
Answer: C
Explanation: Setting minimum commissions is price‑fixing, prohibited under antitrust statutes.
**Question 9.** RESPA requires that a borrower receive a Good Faith Estimate (GFE) within:
A) 24 hours of application
B) 3 business days of application
C) 7 days of closing
D) 30 days of application
Answer: B
, [GRI] GRI Graduate REALTOR Institute
Certification Exam Preparation Guide
Explanation: RESPA mandates a GFE (now the Loan Estimate) within three business days of loan
application.
**Question 10.** TILA’s “Truth‑in‑Lending” disclosures must include:
A) Only the interest rate
B) Annual Percentage Rate (APR) and total finance charge
C) The broker’s commission amount
D) The property’s appraisal value
Answer: B
Explanation: TILA requires disclosure of APR and total finance charge to help borrowers
compare loans.
**Question 11.** The “standard of care” for a real‑estate professional means:
A) Acting with the same skill and knowledge as a reasonably prudent broker in the same market
B) Guaranteeing a sale at the listing price
C) Providing legal advice to clients
D) Performing all tasks personally, without delegation
Answer: A
Explanation: Standard of care is measured against what a reasonably prudent professional
would do.
**Question 12.** An agent who drafts a purchase agreement for a client is engaging in:
A) Authorized real‑estate activity
B) Unauthorized practice of law
C) Acceptable brokerage service
D) A violation of RESPA
Certification Exam Preparation Guide
**Question 1.** Which NAR Code of Ethics article requires REALTORS® to protect and promote
the interests of the public?
A) Article 1
B) Article 2
C) Article 12
D) Article 17
Answer: A
Explanation: Article 1 states that REALTORS® must protect and promote the public interest.
**Question 2.** An agent who receives a complaint about a possible ethics violation should
first:
A) File a lawsuit against the complainant
B) Attempt to resolve the issue informally through the Professional Standards process
C) Ignore the complaint until a formal arbitration is scheduled
D) Notify the local MLS board immediately
Answer: B
Explanation: The Professional Standards process encourages informal resolution before formal
arbitration.
**Question 3.** In a procuring‑cause dispute, which factor is most critical to the hearing panel?
A) The number of open houses held by the broker
B) Evidence showing which agent’s activities directly led to the sale contract
C) The seller’s personal preference for an agent
D) The price difference between competing offers
Answer: B
Explanation: Panels focus on who produced the decisive act that resulted in the sale.
, [GRI] GRI Graduate REALTOR Institute
Certification Exam Preparation Guide
**Question 4.** The Fair Housing Act prohibits discrimination based on all of the following
EXCEPT:
A) Race
B) National origin
C) Age
D) Familial status
Answer: C
Explanation: Age is not a protected class under the Fair Housing Act.
**Question 5.** Under the ADA, a real‑estate professional must:
A) Provide sign‑language interpreters for every showing
B) Ensure that common areas of multifamily housing are accessible to persons with disabilities
C) Install wheelchair ramps in every single‑family home they list
D) Offer discounts to disabled buyers
Answer: B
Explanation: The ADA requires reasonable accessibility in common areas of multifamily
dwellings.
**Question 6.** Which fiduciary duty requires an agent to disclose any personal interest in a
transaction?
A) Loyalty
B) Confidentiality
C) Disclosure
D) Accounting
Answer: C
, [GRI] GRI Graduate REALTOR Institute
Certification Exam Preparation Guide
Explanation: The duty of disclosure obligates agents to reveal material facts, including personal
interests.
**Question 7.** Dual agency is considered a pitfall because:
A) It eliminates the need for a written contract
B) It creates a conflict of interest that can impair loyalty to both parties
C) It allows the broker to charge double commission automatically
D) It is prohibited in all states
Answer: B
Explanation: Representing both buyer and seller can compromise the agent’s duty of loyalty.
**Question 8.** Which activity would likely violate antitrust law?
A) Sharing market data with a competitor
B. Holding a joint open house with another broker
C) Agreeing with other agents to set a minimum commission rate
D) Referring clients to a preferred lender
Answer: C
Explanation: Setting minimum commissions is price‑fixing, prohibited under antitrust statutes.
**Question 9.** RESPA requires that a borrower receive a Good Faith Estimate (GFE) within:
A) 24 hours of application
B) 3 business days of application
C) 7 days of closing
D) 30 days of application
Answer: B
, [GRI] GRI Graduate REALTOR Institute
Certification Exam Preparation Guide
Explanation: RESPA mandates a GFE (now the Loan Estimate) within three business days of loan
application.
**Question 10.** TILA’s “Truth‑in‑Lending” disclosures must include:
A) Only the interest rate
B) Annual Percentage Rate (APR) and total finance charge
C) The broker’s commission amount
D) The property’s appraisal value
Answer: B
Explanation: TILA requires disclosure of APR and total finance charge to help borrowers
compare loans.
**Question 11.** The “standard of care” for a real‑estate professional means:
A) Acting with the same skill and knowledge as a reasonably prudent broker in the same market
B) Guaranteeing a sale at the listing price
C) Providing legal advice to clients
D) Performing all tasks personally, without delegation
Answer: A
Explanation: Standard of care is measured against what a reasonably prudent professional
would do.
**Question 12.** An agent who drafts a purchase agreement for a client is engaging in:
A) Authorized real‑estate activity
B) Unauthorized practice of law
C) Acceptable brokerage service
D) A violation of RESPA
