EXAM STUDY MATERIALS 8/7/2024 11:29 AM
ETH001 Exam Questions With Correct
Answers
A study by the American Society of Executives found that ________ of associations fully
enforce their ethics codes - answer✔✔1/3
Ethics comes from the Greek word "ethos" meaning - answer✔✔Character
Ethics involves a ________ effort of studying our own moral belief and conduct -
answer✔✔Continuous
An unethical action is _______ illegal - answer✔✔Sometimes
Who is required to uphold the IREM Code of Ethics? - answer✔✔CPM Members, CPM
Candidates, ARM Members, ACOM Members, and Associate Members
Ethics for an organization such as IREM, are defined as - answer✔✔standards governing the
conduct of members of the profession
How many articles are there in the IREM Code of Ethics - answer✔✔14
Which article requires that an IREM member offer equal professional services to all persons? -
answer✔✔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 - answer✔✔Article 13: Duty to Report Violations
The IREM Member Pledge can be cited for ethics violations. True or false? - answer✔✔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? -
answer✔✔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? - answer✔✔Article 9:
Duty to Former Clients and Former Firms or Employers
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
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? - answer✔✔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? - answer✔✔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? - answer✔✔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? - answer✔✔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? - answer✔✔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
ETH001 Exam Questions With Correct
Answers
A study by the American Society of Executives found that ________ of associations fully
enforce their ethics codes - answer✔✔1/3
Ethics comes from the Greek word "ethos" meaning - answer✔✔Character
Ethics involves a ________ effort of studying our own moral belief and conduct -
answer✔✔Continuous
An unethical action is _______ illegal - answer✔✔Sometimes
Who is required to uphold the IREM Code of Ethics? - answer✔✔CPM Members, CPM
Candidates, ARM Members, ACOM Members, and Associate Members
Ethics for an organization such as IREM, are defined as - answer✔✔standards governing the
conduct of members of the profession
How many articles are there in the IREM Code of Ethics - answer✔✔14
Which article requires that an IREM member offer equal professional services to all persons? -
answer✔✔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 - answer✔✔Article 13: Duty to Report Violations
The IREM Member Pledge can be cited for ethics violations. True or false? - answer✔✔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? -
answer✔✔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? - answer✔✔Article 9:
Duty to Former Clients and Former Firms or Employers
, EXAM STUDY MATERIALS 8/7/2024 11:29 AM
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? - answer✔✔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? - answer✔✔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? - answer✔✔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? - answer✔✔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? - answer✔✔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
