Alberta Real Estate Licensing Exam Practice · Question
Which of the following describes a 'fiduciary relationship' in real estate?
A fiduciary relationship, central to agency, means the professional must act with utmost loyalty and good faith towards their client.
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Question: Which of the following describes a 'fiduciary relationship' in real estate?
Answer options: ✅ A relationship based on trust and confidence, where one party acts in the best interest of another.
- A relationship where both parties advise each other equally on legal matters.
- A relationship strictly defined by a formal written contract, with no implied duties.
- A relationship where the real estate professional guarantees a specific outcome for the client.
Correct answer: A relationship based on trust and confidence, where one party acts in the best interest of another.
Explanation: A fiduciary relationship, central to agency, means the professional must act with utmost loyalty and good faith towards their client.
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