Alberta Real Estate Licensing Exam Practice · Question
What is 'fiduciary duty' in the context of a real estate agency relationship?
Fiduciary duty is a legal obligation to act in the utmost good faith and loyalty for the client's benefit.
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Question: What is 'fiduciary duty' in the context of a real estate agency relationship?
Answer options: ✅ The obligation to act in the best interests of the client
- The duty to advertise the property widely
- The responsibility to set the property's sale price
- The requirement to only represent one client at a time
Correct answer: The obligation to act in the best interests of the client
Explanation: Fiduciary duty is a legal obligation to act in the utmost good faith and loyalty for the client's benefit.
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