QuizMe

1: In a real estate transaction, the term fiduciary typically refers to the

Agents's relationship to the prinicipal

2: The relationship between broker and seller is generally what type of agency?

Special

General

3: Which statement is TRUE of a real estate broker acting as the agent of the seller

The broker is obligated to render loyalty to the seller

4: In a dual agency situation, a broker may represent both the seller and the buyer if:

Both parties give their informed consent, usually in writing, to the dual agency.

5: Which event will terminat an agency in a broker-seller relationship?

The owner declares personal bankruptcy