Practice Test Geeks(CRECI) Commercial Real Estate Certification Institute Practice Test
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Industry Standards & Ethical Practices Flashcards

7 cards from real CRECI practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 7 Industry Standards & Ethical Practices flashcards as text

  1. The NAR Code of Ethics Article 1 obligation for REALTORS® in commercial practice primarily requires:

    Answer: Protecting and promoting clients' interests while treating all parties honestly

    Article 1 mandates that REALTORS® protect and promote their client's interests while simultaneously treating all parties to the transaction honestly.

  2. Under CRECI standards, a commercial broker who learns of environmental contamination on a listed property must:

    Answer: Disclose to prospective buyers regardless of seller instructions

    Environmental contamination is a material fact that must be disclosed to prospective buyers even without seller authorization, as concealment could constitute fraud.

  3. A commercial real estate professional who knowingly submits a false comparative market analysis to support an inflated listing price is violating the ethical principle of:

    Answer: Honesty and integrity

    Submitting a knowingly false CMA violates the core ethical principle of honesty and integrity, which requires truthful communication in all professional dealings.

  4. Steering a commercial tenant toward or away from specific building types based on the tenant's national origin is:

    Answer: A violation of the Fair Housing Act and professional ethics

    While the Fair Housing Act has limited commercial application, steering based on protected characteristics violates anti-discrimination laws and CRECI ethical standards.

  5. The ethical duty of 'obedience' in a commercial agency relationship requires the agent to:

    Answer: Follow lawful client instructions even if personally disagreeable

    The duty of obedience requires following the client's lawful instructions; an agent is not required to follow illegal or unethical directives.

  6. When a commercial listing expires without a sale, the listing broker's obligations regarding confidential client information are:

    Answer: Maintained — confidentiality survives expiration of the listing

    The expiration of a listing agreement does not extinguish the broker's duty of confidentiality; client information must remain protected.

  7. CRECI's standard of competency requires a commercial professional to:

    Answer: Acquire expertise or associate with a qualified professional when a transaction exceeds their knowledge

    When facing a transaction outside their expertise, professionals must either develop the necessary competency or partner with someone who has it, rather than simply proceeding uninformed.