Fiduciary Duties Exam with precise detailed answers || || || || || ||
Which of these situations addresses the fiduciary duty of confidentiality? - ✔✔Jeanette, a seller's
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agent, tells the buyer's agent that her client must sell his home because of an illness.
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Which of the following statements about the fiduciary duty of disclosure is true? - ✔✔It's owed to
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other parties, not just to the agent's clients.
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Your buyer client, Ben Dalton, tells you two weeks before closing that he's lost his job. He doesn't
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have any other income at the moment, and may not be able to follow through on his purchase of
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the house you're helping him buy. However, he doesn't want to miss out on his dream home and is
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optimistic that he'll find something soon, so he asks you to keep it confidential. What should you
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do? - ✔✔Disclose this fact to all parties to the transaction if Ben refuses to do so.
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Newt's buyer client isn't happy with him. The buyer has accused Newt of breaching his duty of
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______ by mishandling the earnest money. - ✔✔Accounting
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Select the situation that correctly represents a true conflict of fiduciary duties. - ✔✔Nikki's seller
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client has instructed her not to present offers that are less than the listing price. This is a conflict
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of Nikki's duty of disclosure, which requires her to present all offers, and her duty of obedience.
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Which of these tasks that Jenna performs does NOT represent the fiduciary duty of accounting? -
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✔✔She discloses the terms of the listing agent's compensation to her client.
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Duke's client has asked him for advice on a legal matter. Based on the duty of reasonable skill and
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care, what should Duke do? - ✔✔Refer his client to an attorney.
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Simone can't believe that her client won't let her put a lockbox on the property. How does he
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expect other agents to be able to show the home? Oh well, it's not as if he's asking her to do
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something illegal. The client's wish is her command. What fiduciary duty is this an example of? -
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✔✔The duty of obedience || || ||
Which of these situations addresses the fiduciary duty of confidentiality? - ✔✔Jeanette, a seller's
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agent, tells the buyer's agent that her client must sell his home because of an illness.
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Which of the following statements about the fiduciary duty of disclosure is true? - ✔✔It's owed to
|| || || || || || || || || || || || || || || ||
other parties, not just to the agent's clients.
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Your buyer client, Ben Dalton, tells you two weeks before closing that he's lost his job. He doesn't
|| || || || || || || || || || || || || || || || || ||
have any other income at the moment, and may not be able to follow through on his purchase of
|| || || || || || || || || || || || || || || || || || ||
the house you're helping him buy. However, he doesn't want to miss out on his dream home and is
|| || || || || || || || || || || || || || || || || || ||
optimistic that he'll find something soon, so he asks you to keep it confidential. What should you
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do? - ✔✔Disclose this fact to all parties to the transaction if Ben refuses to do so.
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Newt's buyer client isn't happy with him. The buyer has accused Newt of breaching his duty of
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______ by mishandling the earnest money. - ✔✔Accounting
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Select the situation that correctly represents a true conflict of fiduciary duties. - ✔✔Nikki's seller
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client has instructed her not to present offers that are less than the listing price. This is a conflict
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of Nikki's duty of disclosure, which requires her to present all offers, and her duty of obedience.
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Which of these tasks that Jenna performs does NOT represent the fiduciary duty of accounting? -
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✔✔She discloses the terms of the listing agent's compensation to her client.
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Duke's client has asked him for advice on a legal matter. Based on the duty of reasonable skill and
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care, what should Duke do? - ✔✔Refer his client to an attorney.
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Simone can't believe that her client won't let her put a lockbox on the property. How does he
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expect other agents to be able to show the home? Oh well, it's not as if he's asking her to do
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something illegal. The client's wish is her command. What fiduciary duty is this an example of? -
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✔✔The duty of obedience || || ||
