ETH800 Q&A 2024/2025
1. IREM was founded in 1933 to: oppose unethical business practices.
2. A study by the American Society of Association Executives (ASAE) found
that ______________ of associations fully enforce their ethics codes.: One
third
3. Ethics comes from the Greek word Ethos, meaning: Character
4. Ethics involves a ___________ effort of studying our own moral beliefs and
conduct.: continuous
5. An unethical action is ___________ illegal.: sometimes
6. Ethics, for organizations such as IREM, are defined as: standards governing
the conduct of members of the profession
7. Who is required to uphold the IREM Code of Professional Ethics?: CPM
Members, CPM Candidates, ARM Members, ACOM Members and Associate Members
8. How many articles are there in the IREM Code of Professional Ethics?: 14
9. Which Article requires that an IREM Member offer equal professional services
to all persons?: Article 11
10. Which Article requires an IREM Member to provide the Institute any significant
factual information that reasonably suggests that another IREM Member
may have violated the IREM Code of Professional Ethics?: Article 13
11. The IREM Member Pledge can be cited for ethical violations.: True
12. An IREM Member was found by his state 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
13. A real estate manager, 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?: Both Articles 5 and 9
, 14. 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?: Articles 1 and 8
15. 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 would be
violated?: Articles 1 and 7
16. Maintaining accurate records of property's operation is good real estate
management, but there is no ethical obligation to do so under the Code.: False
17. The owner of a small rental property just received a bill from the management
company for the repair work done to the property. The management
company did not consult with the property owner or 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 filed, which section of the IREM Code of Professional
Ethics would be most appropriate to cite?: Article 8
18. 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 or 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
managment 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.
1. IREM was founded in 1933 to: oppose unethical business practices.
2. A study by the American Society of Association Executives (ASAE) found
that ______________ of associations fully enforce their ethics codes.: One
third
3. Ethics comes from the Greek word Ethos, meaning: Character
4. Ethics involves a ___________ effort of studying our own moral beliefs and
conduct.: continuous
5. An unethical action is ___________ illegal.: sometimes
6. Ethics, for organizations such as IREM, are defined as: standards governing
the conduct of members of the profession
7. Who is required to uphold the IREM Code of Professional Ethics?: CPM
Members, CPM Candidates, ARM Members, ACOM Members and Associate Members
8. How many articles are there in the IREM Code of Professional Ethics?: 14
9. Which Article requires that an IREM Member offer equal professional services
to all persons?: Article 11
10. Which Article requires an IREM Member to provide the Institute any significant
factual information that reasonably suggests that another IREM Member
may have violated the IREM Code of Professional Ethics?: Article 13
11. The IREM Member Pledge can be cited for ethical violations.: True
12. An IREM Member was found by his state 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
13. A real estate manager, 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?: Both Articles 5 and 9
, 14. 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?: Articles 1 and 8
15. 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 would be
violated?: Articles 1 and 7
16. Maintaining accurate records of property's operation is good real estate
management, but there is no ethical obligation to do so under the Code.: False
17. The owner of a small rental property just received a bill from the management
company for the repair work done to the property. The management
company did not consult with the property owner or 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 filed, which section of the IREM Code of Professional
Ethics would be most appropriate to cite?: Article 8
18. 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 or 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
managment 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.
