Arizona License LawIntermediateArizona Exam
An Arizona licensee who receives a gift of significant value from a service vendor in connection with a client's transaction must:
AReturn it immediately
BAccept it as a thank-you since gifts between professionals are customary
CDisclose the gift to the client and brokerCorrect
DOnly disclose if the gift exceeds $50
Why Disclose the gift to the client and broker Is Correct
Answer C: Disclose the gift to the client and broker
A licensee who receives a gift from a vendor in connection with a client's transaction has a conflict of interest and must disclose this to the client and broker, regardless of the gift's value, to avoid violating the duty of loyalty.
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