DBPR Ethics and Professional Standards 1

Question 1

Which ethical obligation requires a Florida real estate licensee to act in their client's best interest?

Accepted Answer

Fiduciary duty

Answer

A fiduciary duty obligates real estate licensees to place their client's interests above all others, including their own personal interests.

Question 2

Florida's Code of Ethics for real estate professionals is enforced by which organization?

Accepted Answer

The National Association of Realtors (NAR) through local associations

Answer

The NAR Code of Ethics is enforced by local Realtor associations through their professional standards committees, separate from DBPR's statutory enforcement.

Question 3

What does Florida contractor ethics require regarding bids submitted to clients?

Accepted Answer

Bids must be honest and not contain intentionally inflated or fraudulent estimates

Answer

Professional ethics require that contractor bids be honest and accurate, as submitting knowingly false or inflated estimates constitutes fraud.

Question 4

Which ethical principle prohibits a Florida licensee from revealing confidential client information without authorization?

Accepted Answer

Confidentiality

Answer

The duty of confidentiality prevents licensees from sharing client information obtained during the professional relationship without the client's consent.

Question 5

A Florida contractor who discovers that a previous contractor's work is defective and does not inform the client is violating which ethical duty?

Accepted Answer

Duty to disclose material information

Answer

Failing to disclose known defects in previous work that could affect the client's project violates the contractor's ethical duty to disclose material information.

DBPR - Department of Business and Professional Regulation Practice Test

DBPR - Department of Business and Professional Regulation Practice Test

DBPR Ethics and Professional Standards 1