Over time, common and statutory laws have evolved in terms of agency and fiduciary duties. As real estate representation evolves, new court cases emerge annually in states across the nation, actively increasing the expectations of clients and courts regarding agent responsibility in real estate transactions. If an agent impinges on one of the fiduciary duties or doesn’t implement them as required, they can be held liable. And in real estate, being held liable usually entails lawyers. To assist you in avoiding the lawyers, you should clearly understand the topic of laws of agency and fiduciary duties. This topic is a part of the real estate test that is imperative for brokers and real estate to take.
Earning a high score on the topic of laws of agency and fiduciary duties is not easy because this topic is immensely challenging and requires you to retain a lot of information. For example, exclusively for fiduciary duties, there are six duties that an agent owes their client, namely obedience, loyalty, disclosure, confidentiality, accounting, and reasonable care. But, don’t worry. We’ve got you covered. We will provide you with a myriad of multiple-choice Real Estate Property valuation and financial analysis practice test questions that enable you to practice laws of agency and fiduciary duties at your own pace. We are sure that after you complete this set of questions, this arduous topic is no longer your obsession anymore. Let’s get started and see what we have prepared for you!