Agency
Which of the following is NOT a fiduciary duty owed by an agent to a principal?
ALoyalty
BObedience
CFull disclosure to all third parties✓ Correct
DCare and diligence
Explanation
The fiduciary duties owed to a principal include loyalty, obedience, care/diligence, accounting, and confidentiality (OLDAC). 'Full disclosure to all third parties' is not among them — in fact, the duty of confidentiality often prevents disclosing client information to third parties.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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