Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 2 Exam with our comprehensive quiz that covers essential concepts and topics. Enhance your understanding with multiple choice questions designed to test your knowledge and boost your confidence before the exam.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which of the following best describes "fiduciary duty"?

Duty to provide financial assistance to the client.
Duty to maintain client confidentiality, act in the client’s best interests, and provide full disclosure.
Obligation to adhere strictly to all client commands and demands.
Responsibility to disclose personal information to third parties.

The correct answer is: Duty to maintain client confidentiality, act in the client’s best interests, and provide full disclosure.

"Fiduciary duty" in real estate refers to the legal responsibility of a real estate agent to act in the best interests of their client. This duty includes maintaining client confidentiality, providing full disclosure of all relevant information, and making decisions that benefit the client. By upholding fiduciary duty, real estate agents must prioritize their clients’ needs and interests above all else. Options A, C, and D are incorrect because they do not fully capture the essence of fiduciary duty in real estate. Providing financial assistance, adhering strictly to client commands and demands, and disclosing personal information to third parties do not directly align with the comprehensive duties and obligations that constitute fiduciary duty in the real estate context.