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Code of Ethics Quiz 2

by

TAKE QUIZ #3

Q1

When must you execute and provide CCAR an SELM?

A1

MULTIPLE CHOICE: B | Whenever the listing will not be input into the MLS within 3 days… (MLS Rule 7.5: Mandatory Submission)

Q2

Clear Cooperation policy requires you to input your listing ___________ once you have marketed it outside your brokerage in any manner. 

A2

FILL-IN-BLANK: Within 1 business day | MLS Rule 7.5: Mandatory Submission

Q3

Do you have to install a Supra lockbox on every property listing?

A3

YES/NO: No. | MLS Rule 13.2.2: Lockbox Requirements

Q4

How many days do you have to update property status to “Pending” or “Sold”?

A4

MULTIPLE CHOICE: A | 1 day (MLS Rule 10.2: Reporting of Sales)

Q5

REALTOR® Gordie places his seller-client’s home on the MLS with a note that it is “Coming Soon” and not yet available for showings. Gordie first wants to direct-market the house to several clients, friends and family members who have expressed interest in it. REALTOR® Frances, from another brokerage, notices the listing and contacts Gordie to ask if she can show the home to a client today. Gordie should…

A5

MULTIPLE CHOICE: B | Discuss the situation with his client to determine if the property should become available for showings (MLS Rule 7.5: Mandatory Submission).

* QUIZ  RULES  |   Members providing complete and accurate answers to each quiz will be entered into weekly prize drawings to win free eKey fees for one (1) year (~$200 value); maximum one (1) winner per week. Weekly prize winners will be announced every Tuesday from Sep 08-29. Members who complete all four (4) quizzes (whether answers are accurate or not) will be entered into the grand prize drawing to win a refund for annual CCAR MLS fees (~$539 value); grand prize winner will be announced Tuesday, September 29, 2020. The Office Championship prize will be awarded to the firm/brokerage that records the highest level of participation in all four weekly quizzes; individual prizes for each team participant; total not to exceed $1,000. Refunds will be awarded in the form of gift cards.

RESOURCES:

> NAR CODE OF ETHICS

> NAR CODE OF ETHICS VIDEOS

> MLS RULES & REGULATIONS

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