Texas Real Estate Brokerage Sales Apprentice Education (SAE) Practice Exam

What three Cannons of Ethics were adopted by the Texas Real Estate Commission in the 1970s?

1. Honesty, Integrity, Accountability

2. Fidelity, Integrity, Competency

3. Trust, Loyalty, Transparency

4. Ethics, Integrity, Professionalism

The correct answer is: Fidelity, Integrity, Competency

The three Cannons of Ethics adopted by the Texas Real Estate Commission in the 1970s are Fidelity, Integrity, and Competency. These principles are essential to guide real estate professionals in their duties and maintain the trust of their clients and the public. Fidelity emphasizes the importance of loyalty to clients, requiring real estate agents to act in their clients' best interests and maintain confidentiality. This principle helps ensure that agents uphold their obligations and foster strong, trust-based relationships with those they represent. Integrity highlights the necessity of honesty and moral uprightness in all dealings, mandating that real estate professionals must be truthful in their actions and communications. Maintaining integrity reinforces public confidence in the profession and ensures that agents operate within legal and ethical boundaries. Competency refers to the requirement for real estate professionals to possess the necessary knowledge, skills, and abilities to perform their job effectively. This means continuously updating their knowledge about the industry, regulations, and market conditions to provide the best possible service to clients. Together, these principles create a framework that promotes ethical behavior in the real estate industry, which is vital for maintaining professionalism and public trust.