5. The requirement that a property manager understand all the laws that regulate the property management industry relates to which ethical duty? (1) Duty to advise fully, candidly, and honestly 2) Duty to uphold the law 3) Duty to ascertain all the facts 4) Duty to disclose all options 6. In a negotiation, which of the following BEST describes the term "position"? (1) What a negotiator believes is the ideal solution they must achieve in the negotiation (2) The importance of each issue to each side of the negotiation (3) A negotiator's next-base case scenario if they are unable to walk away from the table with a solution in hand (4) The underlying needs or desires that motivate a party to adopt a particular position in a negotiation 7. Which of the following statements regarding Med-Arb is FALSE? (1) The Med-Arb process begins like a typical arbitration and proceeds to a mediation if the parties cannot resolve the dispute. (2) The term "Med-Arb" represents a hybrid between mediation and arbitration. (3) Different parties can oversee the arbitration and mediation processes in a Med-Arb. (4) A person who is qualified in both arbitration and mediation can play both roles in a Med-Arb. 8. When does a property manager's duty of confidentiality to a condominium unit owner end? (1) One year after the issue relating to the duty of confidentiality is resolved (2) When the owner moves out of the building (3) When the property manager's contract ends (4) None of the above are correct 9. Which of the following approaches assumes an adversarial, zero-sum relationship between the negotiators and anticipates that only one party will benefit in the end? (1) Distributive perspective (2) Integrative perspective (3) Win-lose perspective (4) Opposing perspective 10. Which federal act establishes how a business engaged in commercial activity can collect, use, and disclose information? (1) Canadian Anti-Spamming Legislation (CASL) (2) Personal Information Protection and Electronic Documents Act (PIPEDA) (3) Commercial Use of Information Act (CUIA) (4) Information Management Act of Canada (IMAC)