¿Cuándo puede un profesional actuar en representación de más de una parte en la misma transacción?
Based on: Ley 10-1994, Art. 31(1)
Reválida de Bienes Raíces (Vendedor) · Ética
Reválida de Bienes Raíces Practice Questions: Ética y Aspectos Profesionales (2026)
Ética y aspectos profesionales is the second-largest topic on the reválida de bienes raíces, worth 11 of the 60 scored questions (18 percent). Its backbone is Artículo 31 of Ley 10 de 1994, the catalogue of prácticas proscritas: representing more than one party without the express consent of all, improperly retaining documents or money, listing a property without the owner's authorisation, and discriminating against a party in a transaction are all prohibited. Around that core the exam tests the fiduciary duties of the agent and the types of brokerage contract used in Puerto Rico.
Practice
Free practice questions
¿Cuál de las siguientes conductas constituye una práctica proscrita bajo la Ley 10?
Based on: Ley 10-1994, Art. 31(2)
Un corredor publica un inmueble a la venta sin hablar con el dueño. ¿Qué regla infringe?
Based on: Ley 10-1994, Art. 31(3)
Mezclar los fondos de un cliente con los fondos propios del corredor en una sola cuenta es:
Based on: Ley 10-1994, Arts. 31(4), 31(19)
Según la Ley 10, ¿qué debe contener todo anuncio o promoción de un corredor o empresa?
Based on: Ley 10-1994, Art. 31(6)
Un vendedor usa información que recibió de un cliente para comprar él mismo una propiedad. ¿Qué exige la Ley?
Based on: Ley 10-1994, Art. 31(7)
Al consumarse una transacción, ¿qué debe hacer el profesional con la documentación?
Based on: Ley 10-1994, Art. 31(8)
Respecto a los contratos de corretaje exclusivo, ¿qué prohíbe expresamente la Ley 10?
Based on: Ley 10-1994, Art. 31(9)
¿Cuándo puede un corredor cobrar comisión a más de una parte en una transacción?
Based on: Ley 10-1994, Art. 31(10)
Un comprador no cualifica para el financiamiento pese a haber cumplido los demás requisitos. ¿Qué procede con su depósito?
Based on: Ley 10-1994, Art. 31(11)
The prácticas proscritas of Artículo 31
Artículo 31 is a numbered list, and the exam quotes it almost clause by clause, so learn the conduct and its rule together. Acting for more than one party in the same transaction is prohibited without the express consent of all the parties, Art. 31(1), which is also the statutory basis for dual agency. Improperly retaining any document or sum of money belonging to the parties is prohibited by Art. 31(2). A professional may only promote or list a property for sale with the authorisation of its owner, because offering a property without the owner's consent is proscribed by Art. 31(3). At the moment the transaction is consummated, the professional must supply the parties with all the necessary information and the documents the laws and regulations require, Art. 31(8). Brokerage contracts may not contain automatic renewal clauses, which Art. 31(9) flatly disallows. And Art. 31(15) prohibits discriminating against a party in a transaction by reason of race, colour, religion, sex, physical or mental disability, familial status or national origin. The wrong alternatives in these questions are usually softened versions of the rule (disclosure after closing, consent of only one party), so anchor on the exact wording: express consent, all parties, before the fact.
Fiduciary duties, dual agency and listing types
Beyond the statutory list, the professional-conduct questions work from agency principles. The duty of lealtad requires the agent to put the client's interest before the agent's own, and it is the fiduciary duty the exam most often names. Dual agency, one professional representing both buyer and seller, is possible in Puerto Rico only with the express consent of all parties, mirroring Art. 31(1). The stakes are real: conduct such as appropriating client funds, using client information for personal benefit or representing opposing interests without consent can lead to suspension or revocation of the licence by the Junta de Corredores, Vendedores y Empresas de Bienes Raíces. The listing-contract questions turn on one comparison: in a listado neto (net listing) the corredor keeps whatever exceeds a price fixed by the owner, an arrangement the materials subject to special client orientation precisely because the broker's compensation grows as the owner's proceeds shrink. Put next to a standard commission listing, the net listing is the recurring exam example of an arrangement that creates a conflict between the agent's earnings and the duty of lealtad, which is exactly why the exam pairs the two concepts.
| Conduct | Rule under Ley 10 de 1994 |
|---|---|
| Representing more than one party | Only with the express consent of all parties (Art. 31(1)) |
| Retaining documents or money of the parties | Prohibited (Art. 31(2)) |
| Listing a property without authorisation | Prohibited; requires the owner's consent (Art. 31(3)) |
| Withholding documents at closing | Must supply all required information and documents (Art. 31(8)) |
| Automatic renewal clauses in brokerage contracts | Not permitted (Art. 31(9)) |
| Discriminating against a party | Prohibited on grounds of race, colour, religion, sex, disability, familial status or national origin (Art. 31(15)) |
FAQ
Frequently asked questions
How many ethics questions are on the Puerto Rico salesperson exam?
Ética y aspectos profesionales carries 11 of the 60 scored questions on the reválida de vendedor, 18 percent of the exam, making it the second-heaviest topic after the legal block. Most of its questions come from Artículo 31 of Ley 10 de 1994 and from the fiduciary duties of the agent.
Can a real estate agent in Puerto Rico represent both buyer and seller?
Only with the express consent of all the parties. Artículo 31(1) of Ley 10 de 1994 prohibits acting in representation of more than one party in a transaction without that consent, and the same rule governs dual agency. Consent after the closing, or from just one side, does not satisfy the law.
Are automatic renewal clauses allowed in Puerto Rico brokerage contracts?
No. Artículo 31(9) of Ley 10 de 1994 provides expressly that automatic renewal clauses in brokerage contracts are not permitted. A listing therefore ends on its agreed term unless the parties actively renew it, and a contract drafted to roll over by silence is a prohibited practice.
What is a net listing (listado neto) and why does the exam flag it?
In a listado neto the corredor keeps as compensation whatever the sale price exceeds a figure fixed by the owner. The exam materials subject it to special orientation to the client because the broker profits from every dollar above the owner's floor, a structure in tension with the fiduciary duty of lealtad.
What happens if an agent in Puerto Rico misappropriates client funds?
Conduct such as appropriating client funds, using client information for personal benefit, or representing opposing interests without consent can lead to suspension or revocation of the licence issued by the Junta de Corredores, Vendedores y Empresas de Bienes Raíces. The reválida tests these consequences alongside the prohibited practices themselves.