IREM Certified Property Manager (CPM) Practice Test 2025 – All-in-One Guide to Exam Success!

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What is the purpose of a Code of Ethics in property management?

To limit the responsibilities of professionals.

To ensure compliance with federal regulations.

To enhance professionalism and establish standards of behavior.

The purpose of a Code of Ethics in property management is to enhance professionalism and establish standards of behavior. This code serves as a guiding framework for property managers, ensuring they conduct their business with integrity and accountability. It outlines the principles and values that professionals should uphold while interacting with clients, tenants, and colleagues, fostering trust and respect in the industry.

An effective Code of Ethics promotes best practices, encourages ethical decision-making, and helps in building a positive reputation for both property managers and the management company. By adhering to these standards, property managers can navigate complex situations and challenges more effectively, contributing to overall professionalism in the field.

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To provide a legal loophole for violations.

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