What Is Fiduciary Duties?
The obligations a licensee owes to a principal in a single-agent relationship — commonly summarized as loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care.
Fiduciary Duties across 2 exams
Fiduciary Duties appears on the following exams. Each defines it in the context candidates are tested on:
- FL Sales Associate
- The obligations a licensee owes to a principal in a single-agent relationship — commonly summarized as loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care.
- NC Broker
- The legal obligations a broker owes a client, commonly summarized as obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care (OLD CAR).