Which of the following actions poses the greatest risk for your brokerage?
-Developing a thorough policies and procedures manual
-Developing company
... [Show More] checklists for all licensees to follow
-Not penalizing staff who don't follow policies or procedures
-Requiring all staff to carry E&O insurance - Not penalizing staff who don't follow policies or procedures
(While it may make a broker popular with violators, not penalizing staff puts the broker at significant risk and demonstrates a lack of supervision.)
What is the definition of cultural diversity?
-The act of judging another culture solely by the values and standards of one's own culture
-The presence of a variety of cultural or ethnic groups existing together within a single community or nation
-The principle of regarding the beliefs, values, and practices of a culture from the viewpoint of that culture itself
-The sharing of cultural beliefs and social activities between two groups - The presence of a variety of cultural or ethnic groups existing together within a single community or nation
What does the Federal Trade Commission consider to be an unfair ad?
-Any ad or business practice that causes or is likely to cause injury
-Any ad that is likely to mislead consumers acting reasonably under the circumstances
-Any ad that makes a health claim
-Any ad with a claim that's difficult to evaluate - Any ad or business practice that causes or is likely to cause injury
(Any ad or business practice that causes or is likely to cause injury is considered an unfair ad, according to the FTC's Unfairness Policy Statement.)
Why is the Consumer Price Index (CPI) important?
-It's a measure of the public's confidence.
-It's the best general indicator of inflation.
-It's used by the Federal Reserve to adjust monetary policies.
-It tracks growth or lack of growth of personal consumption - It's the best general indicator of inflation.
(CPI essentially measures changes to the cost of living. A high CPI indicates lower purchasing power for consumers and potentially less demand for goods and services.)
What is the primary purpose of an exit interview when a licensee leaves a brokerage?
-To abide by laws that require exit interviews, so the brokerage isn't penalized or sued for wrongful termination
-To collect feedback about what it's like to work for the brokerage, and possibly find areas for improvement
-To collect the employee's confidential information to tell everyone at the brokerage
-To try to convince the licensee to stay at the brokerage - To collect feedback about what it's like to work for the brokerage, and possibly find areas for improvement [Show Less]