CLARESSA MARQUEZ-LEDESMA

2009301343
REM 123 Classwork 4 - Code of Ethics Responsibilities - MCQ

Prepare 10 MCQs from the Code of Ethics and Responsibilities HO and submit with answers &
explanation.

1. What law serves as the basis for the "Code of Ethics and Responsibilities for Real Estate
Service Practitioners"?
A. RA 9646
B. RA 9225
C. RA 8762
D. RA 8479

Answer: A. RA 9646
Explanation: The preamble mentions that the Code is adopted pursuant to Section 5(1),
Article II, and Section 35, Article VI of RA 9646.

2. What is the primary role of the Real Estate Service Practitioners according to the
Preamble?
A. Economic development
B. Political progress
C. Social responsibility
D. All of the above

Answer: D. All of the above

Explanation: The Preamble highlights the honorable profession's vital role in the social,
political, and economic development and progress of the country.

3. What does Article I of the Code of Ethics encompass?

A. Local and international standards
B. Real Estate Consultants only
C. General Provisions
D. Scope and coverage

Answer: D. Scope and coverage

Explanation: Article I defines the scope and coverage of the Code, including various real
estate service practitioners and juridical entities.

4. What is the general principle emphasized in Article II, Section 2 of the Code?
A. Professionalism
B. Competence
C. Integrity
D. Innovation

Answer: C. Integrity
Explanation: Article II, Section 2 emphasizes that practitioners shall exercise the profession
with utmost integrity.

5. The following are the duties of real estate practitioners to the government, except:
A. The Practitioner shall always set a good example as a responsible law-abiding citizen.
B. The Practitioner shall secure all necessary licenses, permits and authority as may be
required by law, ordinance or rules and regulations.
C. The Practitioner shall pay correct taxes and fees required by law.
D. The Practitioner shall contribute to the promotion of the common good by engaging in
social responsibility activities and initiatives.

Answer: D. The Practitioner shall contribute to the promotion of the common good by
engaging in social responsibility activities and initiatives.
Explanation: A, B, and C are the duties of real estate practitioners to the government as
stated in Article III, Section 1. D is a duty to the general public stated in Article III, Section 2.

6. What is the guiding principle for setting professional fees in Section 3(e), Article III?
A. Industry practice
B. Personal preference
C. Market demand
D. Government regulations

Answer: A. Industry practice

Explanation: The Practitioner should charge or collect a professional fee in accordance with
real estate industry practice.

7. What does Article IV, Section 2 emphasize regarding the Practitioner's provision of
services?
A. Discipline
B. Independence and integrity
C. Legal obligations
D. Social responsibility

Answer: B. Independence and integrity

Explanation: Article IV, Section 2 highlights that the Practitioner shall provide services in a
competent, dedicated manner compatible with the independence and integrity of the
profession.

8. What potential sanctions may arise for violating the Code of Ethics and Responsibilities?
A. Termination of contract
B. Warning letter
C. Reprimand, suspension, or revocation of license
D. Fine only

Answer: C. Reprimand, suspension, or revocation of license

Explanation: Article V states that Violations of the Code may lead to sanctions such as
reprimand, suspension, or revocation of license.

9. When does the Code of Ethics and Responsibilities take effect?

A. 30 days after publication
B. Immediately upon approval
C. 15 days after publication
D. Upon the discretion of the Board

Answer: C. 15 days after publication

Explanation: Article VI states that the Code takes effect 15 days after its publication in the
Official Gazette or any newspaper of general circulation in the Philippines.

10. In relation to fellow practitioners, what does the Code of Ethics emphasize regarding the
use of transactional documents?
A. Unrestricted use is permissible
B. Limited use with notification
C. Use only with written consent
D. Public disclosure is mandatory

Answer: C. Use only with written consent

Explanation: The Code specifies in Article III, Section 4 (c) that the Practitioner shall use or
furnish transactional documents only upon the written consent of the practitioner/s from
whom such documents originated.