AgencyIntermediateAlaska Exam

When a seller's agent accidentally discloses confidential seller information to the buyer, the agent has violated the duty of:

ADisclosure, in general

BObedience

CConfidentialityCorrect

DLoyalty

Why Confidentiality Is Correct

Answer C: Confidentiality

Confidentiality is one of the fiduciary duties owed to a client. An agent representing the seller must not disclose confidential information such as the seller's motivation, financial position, or minimum acceptable price to the buyer or other parties.

Exam Tip: Agency

Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.

Key Agency Terms in This Question

Lien

A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.

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Key Terms to Know

Lien

A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.

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.

Buyer's Agent

A 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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Agency Law Guide

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