Law of Agency

B (A listing agreement is an express agreement)

Which of the following is true of agency agreements? A. A landlord and an agent will sign an exclusive-right-to-sell listing agreement. B. A listing agreement is an express agreement. C. An open listing agreement provides the highest form of protection for the listing agent. D. A property management agreement is an agreement between a landlord and a tenant.

B (The roof leaks when it rains)

Which of the following pieces of information may you share with the buyer if you are the seller's agent? A. None of these facts may be shared with the buyer if you are the seller's agent. B. The roof leaks when it rains. C. The seller is in a hurry to move because his wife is seven months pregnant. D. The seller is willing to take less than the asking price.

A (A court-appointed guardian)

Which of the following provides an example of a universal agent? A. A court-appointed guardian B. Buyer's agent C. Listing agent D. Property manager

A (It doesn't extend to material facts relating to the property)

Which of the following statements about the fiduciary duty of confidentiality is true? A. It doesn't extend to material facts relating to the property. B. It encompasses any and all information the client tells the agent, not just confidential information. C. It ends with the termination of the agency agreement. D. It never conflicts with the duty of disclosure.

C (Marty is representing Dwayne in both the sale of his current home and the purchase of his new home)

Which of these circumstances does NOT require agent disclosure? A. As part of his corporation, Sean, a licensee, owns several investment properties. He's selling one. B. Gary represents the buyer. He's a shareholder in the title insurance company the buyer has selected. C. Marty is representing Dwayne in both the sale of his current home and the purchase of his new home. D. Megan has listed her brother's townhome for sale.

B (Ensure that the buyer receives copies of all signed paperwork)

Which of these tasks must a licensee perform for buyer clients? A. Advise the buyer on how to get the seller to come down on the asking price. B. Ensure that the buyer receives copies of all signed paperwork. C. Explain to the buyer how to deposit the earnest money into the seller's personal checking account. D. Explain to the buyer that there's really no need to review transaction documents because they're all standard.

Universal

As a court-appointed guardian, Marion serves as which type of agent? Appointed General Special Universal

B (Have an in-person buyer presentation meeting)

As soon as potential buyers contact Amelia, she sets them up to receive weekly emails with listings that fit what they're looking for. The thing is, they hardly ever get in touch with her after that. What's the best thing Amelia could do to improve her likelihood of sealing the deal? A. Call to make sure her emails aren't going into their spam folders. B. Have an in-person buyer presentation meeting. C. Increase the number of emails to three times a week. D. Send them a postcard, as well.

C (When seller agency is established)

At what point does a broker begin to put the seller's interests before anyone else's? A. When an offer is presented by a buyer B. When negotiating a listing agreement C. When seller agency is established D. When the broker and the seller first talk to one another

B (At the first substantive dialogue with the seller about a specific property)

At what point is a listing agent required to provide a written statement describing the services a seller can expect from a seller's agent, a buyer's agent, and an intermediary? A. After the listing agreement is signed B. At the first substantive dialogue with the seller about a specific property C. The first time the listing agent shows the property to a prospective buyer D. The first time the seller contacts a prospective listing agent

The listing price

Before entering into a listing agreement with a seller, you should negotiate _______. A bonus for selling within 30 days The automatic listing extension date The listing price The sales price

B (Giving legal advice)

Betty is explaining a sales contract to her buyer client. What must Betty be careful to avoid? A. Counseling her client about other options B. Giving legal advice C. Negotiating a better offer for the buyer D. Offering advice about the counter-offer

Jarod

Brenda's broker is Jarod. Before Brenda signs a listing agreement with Sue, she should keep her agency relationship with _________ in mind. A prospective buyer for Sue's home Herself Jarod Sue

D (Negotiation and advice about the real estate transaction)

Charlie would like to represent a potential buyer, Patty. What services can Charlie offer Patty if she becomes his client? A. Better financing B. Interior design and staging services C. Legal advice D. Negotiation and advice about the real estate transaction

D (A buyer's agent represents the buyer of a home per a written agreement)

What does it mean to be a buyer's agent? A. A buyer's agent purchases a home for a client per a written contract. B. A buyer's agent represents an owner of a home per a written contract. C. A buyer's agent represents a seller and a buyer of a home per a written contract. D. A buyer's agent represents the buyer of a home per a written agreement.

D (The consent of both parties)

What gives an agent in an agency relationship the authority to act on the client's behalf? A. Agency disclosure B. A real estate license C. The broker's consent D. The consent of both parties The authority of the agent is based on both parties having agreed to the arrangement.

General

What type of real estate agency relationship usually exists when a licensee has the broad responsibility of handling all of the details of a specific transaction? Designated General Special Universal A general agent has the responsibility of handling all details of a specific transaction. Property managers often serve as general agents.

A (Texas Real Estate Dealers Act)

What was the name of the first law regulating real estate brokerage in Texas, which was originally passed in 1939? A. Texas Real Estate Dealers Act B. The Lone Star State Property Code C. TREC's Rules and Regulations D. TRELA The first law established to regulate real estate brokerage in Texas was the Real Estate Dealers Act. TRELA came along 16 years later.

A ("How long have you been looking for a new home?")

Sameen is a new licensee who is about to meet with some new buyers for the first time. Which of the following would be a good question for her to ask at the outset of their meeting? A. "How long have you been looking for a new home?" B. "How much commission are you willing to pay?" C. "Why should I work for you?" D. "Will you please sign this buyer representation agreement?"

C (Restricting the appearance of the actors within Samuel's ad campaign)

Samuel is creating a new advertising campaign for his brokerage firm. He's pretty sure TREC has some authority over advertising practices, but he can't remember exactly what those are. Which of the following actions falls outside of TREC's powers? A. Establishing rules for advertising practices by a residential rental locator B. Establishing rules for the types of advertising that are permitted in Texas C. Restricting the appearance of the actors within Samuel's ad campaign D. TREC does not have any power when it comes to the advertising practices of licensees.

An agent

"Someone who acts on behalf of someone else" is called _______. A mortgage lender An agent An attorney A trustor

Client

A "principal" is also a/an _________. Agent Broker Client Fiduciary

fiduciary

A _____ is "a person who is put in a position of loyalty and trust. client fiduciary mortgage lender attorney-in-fact

Principal

A _______ is "a party to a transaction, and the person for whom the agent acts." Customer Fiduciary Licensee Principal

Obedience

A client has asked her agent for a 24-hour notice on showings. The agent knows this will have a negative impact on the number of showings. Which duty is in conflict with reasonable skill and care? Accounting Confidentiality Disclosure Obedience

Designated

A real estate licensee is acting as what type of agent when assigned by the broker to represent one party in an in-house transaction? Designated General Special Universal

Agent

A(An) ________ is "someone who acts on behalf of someone else." Agent Attorney Mortgage lender Trustor

B (They filed for bankruptcy three years ago, and won't be eligible to get a loan for another four years, at least)

After meeting with the Johnsons, broker Marcy declines to represent them. Which of the following is an acceptable reason for Marcy's decision? A. Mrs. Johnson is in a wheelchair, and Marcy's Mini Cooper isn't large enough to accommodate the Johnsons and the wheelchair. B. They filed for bankruptcy three years ago, and won't be eligible to get a loan for another four years, at least. C. They're in a different ethnic group than she is. D. They speak broken English.

Anastasia and Wendel

Anastasia and Wendel are buyer and seller of a property. Anastasia is represented by Sebastian. Wendel is represented by Zoila. Who are the principals in this transaction? Anastasia and Wendel Sebastian and Zoila Wendel only Zoila only Actually there are two principals here: Anastasia and Wendel. They are each a party to the transaction.

Implied agency

Christy found a property that was For Sale by Owner and made an offer. The seller accepted Christy's offer, but neither of them knew how to proceed. Licensee Zelda helped Christy complete the necessary purchase documents and walked her through the process. What kind of agency exists? Confirmed agency Express agency Implied agency Verbal agency

Gary and Sara

Fred is buying Gary's property, which is listed with broker Sara. Who are the parties to the listing agreement? Fred and Gary Fred and Sara Fred, Gary, and Sara Gary and Sara

B (To determine their readiness to purchase and make sure they're not already working with another agent)

From a real estate licensee's standpoint, what's the purpose of qualifying buyers before working with them? A. To determine their financial wherewithal B. To determine their readiness to purchase and make sure they're not already working with another agent C. To learn if you have things in common with them D. To pre-qualify them for a loan

Increased

Historically, buyer representation has ______. Become required by law Deteriorated Dwindled Increased

C (By an express or implied agreement between the client, the listing agent, and the sub-agent)

How is sub-agency established? A. By an express or implied agreement between the client and the listing agent B. By an express or implied agreement between the client and the sub-agent C. By an express or implied agreement between the client, the listing agent, and the sub-agent D. By an express or implied agreement between the listing agent and the sub-agent

Buyer's agent

If a buyer's agent gives the buyer misinformation about the property, who is responsible? Buyer Buyer's agent Seller Seller's agent

D (Yes, you should determine whether Jack is ready to buy)

If your cousin Jack is contemplating his first home purchase and wants to use you as his agent, should you pre-qualify Jack before working with him? A. No, because you can't work with relatives. B. No, it's not necessary to pre-qualify relatives. C. Yes, because he's a relative, you can ask financial questions and pre-qualify him yourself. D. Yes, you should determine whether Jack is ready to buy.

Client

In Texas, a ________ is "someone who has agency representation with the real estate sales agent or broker." Client Consumer Customer Fiduciary

C (Is required by law)

In Texas, the Information About Brokerage Services form ______. A. Creates a brokerage relationship once it is signed and dated B. Is a contract C. Is required by law D. Must be videotaped Although required by law, the agency disclosure notice is not a contract, and it does not create a brokerage relationship. The licensee must provide a written disclosure at the time of their first substantive communication with a party in a transaction.

The public

In Texas, the commission is responsible for preparing information outlining its purpose and duties. It must then make this information available to whom? The longest-serving senator in Texas The public The U.S. Congress The U.S. president

A (At the time that the licensee is having the first substantive dialogue about a specific property with the party whom they are not representing in the transaction)

In Texas, when is a licensee required to provide an agency disclosure? A. At the time that the licensee is having the first substantive dialogue about a specific property with the party whom they are not representing in the transaction B. If the licensee is representing the buyer, the disclosure must be given after the purchase offer has been made and accepted C. If the licensee is representing the seller, the disclosure must be given once the listing price has been determined D. Just before the licensee and their client enter into an agency agreement

D (The licensee represents the seller)

In the buyer customer relationship, which of the following is an important fact for buyers to understand? A. The licensee can't accept earnest money funds. B. The licensee represents neither the buyer nor the seller. C. The licensee represents the buyer. D. The licensee represents the seller.

A (Jefferson insists that Ronna interpret the implications of him breaching his contract with a buyer)

In which of these situations is Ronna's fiduciary duty of reasonable skill and care at odds with her duty of obedience? A. Jefferson insists that Ronna interpret the implications of him breaching his contract with a buyer. B. Ronna's buyer client asked her to keep his financial situation confidential. C. Ted, Ronna's broker, insisted that she teach a contracts class, even though she's a new agent. D. Though her customer was adamant, Ronna turned down a commercial listing because it was outside her area of expertise.

An intermediary

Jarvis is a broker in Houston. He is currently working on a real estate transaction on behalf of two parties. Both parties are aware of the broker's activity with each other and both parties have provided written consent acknowledging their approval. Jarvis is working as a what? A double agent A double party broker A liberal licensee An intermediary

B (Jason isn't obligated to compensate Blue Mountain Brokerage)

Jason signed an exclusive agency agreement with Blue Mountain Brokerage. What happens if Jason sells the property himself? A. Blue Mountain Brokerage can sue to collect its commission if Jason doesn't pay it. B. Jason isn't obligated to compensate Blue Mountain Brokerage. C. Jason must pay Blue Mountain Brokerage its full commission. D. Jason's obligated to pay Blue Mountain Brokerage a portion of its commission.

Customer

Javier represents Marcus, who's selling his rental property to Ben. Ben is represented by another real estate licensee, Francis. What is Ben's relationship to Javier? Client and fiduciary Customer Customer and client Fiduciary

D (Yes, it's in the seller's best interest to know that the buyer is willing to offer more money for the property even when they offer less)

Jennifer is the listing agent for the Greens. While showing the property to potential buyers, Jennifer hears them say that they are willing to pay more than they are going to offer. Can Jennifer share this information with the Greens? A. No, it's not in the buyer's best interest for the seller to know this. B. No, Jennifer owes confidentiality to any buyers to whom she shows the property. C. Yes, but she is in violation of her duties to the buyers. D. Yes, it's in the seller's best interest to know that the buyer is willing to offer more money for the property even when they offer less.

A single agent

Josephina is a broker in the same firm as Emilia. Josephina sticks to representing one client, because she knows how hard it is to not favor one party over another in the same transaction. Josephina is acting in which capacity? A client's sole agent A single agent Intermediary Sole agency When you act as a broker for one client and have a duty to that one client, it is known as single agency, and you are known as a single agent.

C (Represent, assist)

Licensees ______ clients and ______ customers. A. Advise, instruct B. Direct, guide C. Represent, assist D. Support, counsel

Their broker's

Licensees must remember, before entering into an agency relationship with a client, that they are already ___________________ agent. A buyer's A seller's Their broker's Their own

A (Marjorie must advise her clients that the buyers are willing to make a higher offer)

Marjorie is a seller agent for the Hartells. The Davises present an offer to Marjorie to purchase the Hartells' property. The Davises have told Marjorie that they love the property and are willing to pay more than their initial offer. Which of the following is true? A. Marjorie must advise her clients that the buyers are willing to make a higher offer. B. Marjorie owes her customers confidentiality, so she can't inform her clients of this information. C. Marjorie should not say anything to her clients so that the deal will close sooner. D. This information is not relevant to the negotiation.

A termination date

Melissa signed a listing agreement with seller Sue after they'd discussed her commission and duties. What else should Melissa have included in the listing agreement? A date by which the listing price should be renegotiated An option to purchase the property herself A termination date Her years of experience

D.

Ned represents Sofia in the sale of her townhome. Luciana represents Sofia's buyer, Arturo. What is Sofia's relationship to Luciana? A. Luciana is Sofia's customer. B. Luciana is Sofia's fiduciary. C. Sofia is Luciana's client. D. Sofia is Luciana's customer.

General

Phil is a property manager, which means he serves as a ______ agent to his landlord/client. Designated General Special Universal

Loyalty

Putting clients' interests ahead of all others describes which fiduciary duty? Confidentiality Disclosure Loyalty Reasonable skill and care

The Mittans'

Rachel is a seller agent for the Mittans. The Davises present an offer to Rachel to purchase the Mittans' property. Whose interests should Rachel put first? Both the Mittans' and the Davises' Her own The Davises' The Mittans'

Disclosure

Revealing all material facts to the client that are pertinent to the transaction describes which fiduciary duty? Disclosure Loyalty Obedience Reasonable skill and care

A customer

Rhonda is an unrepresented buyer who's purchasing Tony's townhome. Gary represents Tony in the sale of his property. What's Rhonda's relationship to Gary? A client and fiduciary A customer A customer and client A fiduciary

C (The sellers are Peter's customers)

Simon is a buyer represented by Peter. Peter shows Simon several homes currently on the market. What is Peter's relationship to the sellers, if he doesn't represent them? A. Peter has no relationship with the sellers. B. Peter is a fiduciary for the sellers. C. The sellers are Peter's customers. D. The sellers are Peter's principals.

C (Cooperation with Other Brokers)

Sometimes a broker from another firm will find a buyer for the seller's property. Which provision in the listing agreement describes the other broker's compensation? A. Access to the Property B. Broker's Compensation C. Cooperation with Other Brokers D. Intermediary

C (Conflicts of interest, material facts, and adverse material facts)

Specifically, what does the fiduciary duty of disclosure relate to? A. Adverse material facts and publicly recorded facts only B. Conflicts of interest and confidential information only C. Conflicts of interest, material facts, and adverse material facts D. Material facts and adverse material facts only

A (By displaying it in a readily noticeable location in each place of business the brokers maintain)

TREC must notify consumers of their right to file a complaint against a licensed sales agent, broker, or certificate holder by which of the following means? A. By displaying it in a readily noticeable location in each place of business the brokers maintain B. By mailing a quarterly notice to all residents living in the state of Texas C. By making public service announcements on the radio D. By taking out an ad every week in the Sunday newspaper

Indemnification

The Best of Times Realty signs a listing agreement with Frank Smith on Monday morning. That night, Frank's property is vandalized with graffiti. Which client duty releases the broker of all liability with regard to the damage that was done to the property? Availability Compensation Indemnification Information

Compensation

The client owes the agent the primary duties of ______, information, indemnification, and availability. Compensation Consideration Courtesy Critical feedback

Indemnification

The client owes the agent the primary duties of compensation, information, ______, and availability. Immunity Indemnification Ingenuity Initiative

C (the former client is found guilty of fraud)

The duty of confidentiality survives agency unless the information is known from other sources or ______. A. it will help another client. B. the former client has moved out-of-state. C. the former client is found guilty of fraud. D. the transaction has closed.

C (With their clients and customers)

The seller agent is required by law to share a written statement about the services offered by seller agents, buyer agents, sub-agents, and intermediaries. With whom must the seller agent provide this information? A. Only with their clients B. Only with their customers C. With their clients and customers D. With whoever requests this information

A (Any interest in real property, including a leasehold, located in or outside of Texas

The term "real estate" refers to which of the following under TRELA's general provisions? A. Any interest in real property, including a leasehold, located in or outside of Texas B. Any interest in the discovery of natural resources C. A potential lucrative industry in Texas D. The liquidation of one's belongings within their home

D (Through the actions of the parties)

Through which of these actions is implied agency created? A. Through agency disclosure B. Through express written agreement C. Through oral agreement D. Through the actions of the parties

D (Since they've had face time with the licensee, buyers are more likely to stay with that broker)

What's an advantage an in-person meeting has over another way of communicating with a potential buyer client? A. It increases the likelihood that the buyer will purchase a more expensive property. B. It puts pressure on clients to sign a buyer representation agreement. C. Licensees can get a signed agreement faster that way. D. Since they've had face time with the licensee, buyers are more likely to stay with that broker.

Loyalty

What's one of the most fundamental of all fiduciary duties, and is the one that underlies all other duties? Accounting Disclosure Loyalty Obedience

D (Suggest negotiation terms)

What's something you can do in a buyer client relationship that you can't do in a buyer customer relationship? A. Provide seller disclosures. B. Safeguard funds. C. Show properties. D. Suggest negotiation terms.

C ("How did you get my name?")

What's the first question a licensee should ask a prospective buyer? A. "Do you need to sell your current home first?" B. "Have you met with a lender yet?" C. "How did you get my name?" D. "How soon do you intend to purchase?"

A (At first contact with the buyer)

When does Texas law require seller agents to disclose their agency relationship with the seller to the buyer? A. At first contact with the buyer B. During the first substantive dialogue about the property C. Every time the seller agent and the buyer meet D. When the seller agent and buyer meet in person for the first time

B (When a written or oral agreement is in place)

When does express agency exist? A. Only when a written agreement is in place B. When a written or oral agreement is in place C. When the parties act as if they are in an agency relationship D. When the parties are in a hurry

A ("Do you need to sell your current home before you can buy?")

When new buyer, Pablo, called to set up a meeting with you, he mentioned that he and his wife had outgrown their current home. When Pablo and his wife come into your office to meet you, what is a good initial question to ask them? A. "Do you need to sell your current home before you can buy?" B. "Do you prefer to live in a Spanish-speaking neighborhood?" C. "Do you promise to buy a home from me within the next three months?" D. "How much house can you afford?"

Special

When working with a client on a real estate sale, a real estate licensee is usually acting as which type of agent? Designated General Special Universal Real estate licensees most often serve as special or specific agents. They have a limited scope of authority when compared to a general agent.

DRHP

Which acronym can help you to remember the duties a licensee owes to customers? DRHP OIL PAN OLD CAR PROP

C (Seller Disclosure Notice)

Which addendum to TAR's Residential Real Estate Listing Agreement Exclusive Right to Sell discloses the condition of the property and is required by Texas law? A.MUD, Water District, or Statutory Tax District Disclosure Notice B. Residential Real Property Affidavit C. Seller Disclosure Notice D. Seller's Authorization to Release and Advertise Certain Information

Availability

Which duty requires a client to take an active and present role in a real estate transaction? Availability Compensation Indemnification Information

Disclosure

Which fiduciary duty is missing: loyalty, reasonable skill and care, obedience, confidentiality, accounting, and ______? Disclosure Disobedience Lawfulness Skill

C (The seller specifies a desired price for the property and agrees to pay the broker any amount received that's more than that price)

Which of the following best describes a net listing? A. The seller and agent agree to split the profit from the proceeds of the sale. B. The seller reserves the right to sell the property and not have to pay a commission. C. The seller specifies a desired price for the property and agrees to pay the broker any amount received that's more than that price. D. The seller works with many agents, and only the agent who procures the buyer is owed a commission.

C (Kelsey and Harold have a signed agency agreement)

Which of the following best indicates that Harold is Kelsey's seller client? A. At an open house, Harold asked Kelsey about her commission rate and sales track record. B. Harold and Kelsey talked at a local elementary school event about the real estate market and the possibility of Harold selling his house. C. Kelsey and Harold have a signed agency agreement. D. Kelsey cold-called Harold and he mentioned that he had indeed been thinking of selling his house.

Honesty

Which of the following duties does a licensee owe to a buyer with whom no agency agreement exists? Advocacy Confidentiality Honesty Loyalty

A (Information About Brokerage Services)

Which of the following forms is automatically provided as part of the listing agreement, regardless of the age, location, or type of property? A. Information About Brokerage Services B. Information about Special Flood Hazard Areas C. Request for Information from an Owners' Association D. Request for Mortgage Information

D (Stronger negotiation strategy)

Which of the following is a benefit of buyer agency for the client? A. Legal advice B. No liability for acts of the listing agent C. Open houses D. Stronger negotiation strategy

A (The Information About Brokerage Services form is not a contract)

Which one of the following statements about the Texas Information About Brokerage Services form is true? A. The Information About Brokerage Services form is not a contract. B. The Information About Brokerage Services form is not required by law. C. The Information About Brokerage Services form is only valid if it contains the broker's name. D. The Information About Brokerage Services form , once signed and dated, creates a brokerage relationship. Although required by law, the Information About Brokerage Services form is not a contract, and it does not create a brokerage relationship. It is merely informational in nature.

Listing agreement

Which one of these agreements will you use to become the seller's agent? Listing agreement Purchase agreement Lease agreement

Default

Which section of the TAR listing agreement states what occurs if either party is in breach of contract? Special Provisions Addenda and Other Documents Default Limitation of Liability Seller's Representations

License holder

Which term is defined as a broker or sales agent licensed under the Texas Real Estate License Act? Agent Client/principal License holder REALTOR®

Intermediary

Which term is defined as a broker who is employed to negotiate a transaction between the parties of a transaction, and for that purpose, may act as a limited agent of those parties? Intermediary Residential rental locator Single agent Sub-agent

Residential rental locator

Which term is defined as a person who offers to locate a unit in an apartment complex for lease to a prospective tenant for consideration? Agent Intermediary Prospect Residential rental locator

Open agency

Which type of buyer agency offers the flexibility to work with multiple agents but results in buyers acting on their own behalf since no agent owes fiduciary duties? Exclusive agency Exclusive right to represent Limited agency Open agency

The buyer

Who benefits from a stronger negotiation strategy in the buyer agency relationship? The buyer The buyer's agent The listing agent The seller

A (The governor of Texas)

Who is responsible for appointing the members of the commission? A. The governor of Texas B. The mayors of every city in the state of Texas C. The public through a vote D. The secretary of state in Texas

C (So the buyer doesn't think the agent represents the buyer's interests)

Why is it important for a sub-agent to disclose to a buyer that the sub-agent represents the seller's interests? A. So that the buyer knows that the buyer must pay the sub-agent a commission B. So the buyer can expect answers to questions about the seller's financial circumstances C. So the buyer doesn't think the agent represents the buyer's interests D. So the buyer won't waste the sub-agent's time

B (The agent has greater incentive)

Why might a buyer's agent show more properties to a buyer client than to buyer customer? A. Confidentiality is not owed to the customer. B. The agent has greater incentive. C. The agent will have a better understanding of what the client is seeking. D. There's more time available to invest in searching for properties.

The seller

Without a buyer agency agreement in place, which party does the agent who's assisting the buyer represent? No one The agent The buyer The seller

D (The Yothers only)

You are the Texas agent for the buyers, the Jansens. The Yothers are the sellers, and their mortgage holder is Richard Steele. To which of these parties must you disclose your agency status? A. All parties to the transaction, including your clients B. Richard Steele only C. The Jansens only D. The Yothers only You are required to make an agency disclosure to the parties involved in the transaction whom you do not represent. In this scenario, that's the Yothers. Mr. Steele is not part of the transaction.

A (Your duty of confidentiality to your client dictates that you not disclose your client's financial situation to the seller. Your duty of disclosure to customers and third parties requires that you disclose Crystal's financial status to the seller)

You're representing Crystal in the purchase of a house. Crystal has a trust fund and can more than afford the house on which she's made an offer. Which of the following statements is true? A. Your duty of confidentiality to your client dictates that you not disclose your client's financial situation to the seller. B. Your duty of disclosure to customers and third parties requires that you disclose Crystal's financial status to the seller. C. Your duty of honesty and fairness to customers dictates that you must share with the seller Crystal's ability to pay more for the property than she offered. D. Your duty of working in your client's best interests means you should be showing her properties that are in a higher price range since she can afford it.

OLD CAR

_______ is an acronym that can help you remember an agent's fiduciary duties. CARE OF DUE CARE FAR GONE OLD CAR