Fiduciary Duty Flashcards
1
Q
Accoutability
A
To account for any trust funds received by the broker
2
Q
Confidentiality
A
Duty to treat information from the client with confidence
3
Q
Fiduciary Relationship
A
Relationship between the principal and the agent and is one of trust and confidence
4
Q
Loytalty
A
A requirement that an agent place the principals interest above his or her own
5
Q
Obedience
A
A requirement that an agent obey all legal instructions given by the principal
6
Q
Reasonable Care and Diligence
A
A requirement that an agent exhibit competence and expertise, keep clients informed, and take proper care of entrusted property
7
Q
Fiduciary duties: OLD CAR
A
obedience loyalty disclosure confidentiality accountability reasonable care and diligence
