Under Arizona law, which of the following is an agent's duty of disclosure to their principal?
Why Reporting all material information relevant to the transaction that the agent knows or should know Is Correct
Answer B: Reporting all material information relevant to the transaction that the agent knows or should know
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
People Also Study
Related Arizona Questions
- An Arizona agent learns that their seller client's property has an unpermitted addition. The agent MUST:Agency
- An Arizona agent learns their buyer client is willing to pay up to $50,000 more than the list price. The agent must:Agency
- An Arizona licensee who refers a client to a home inspector they have a financial interest in without disclosure is violating the duty of:Agency
- In Arizona, an agent who overhears the opposing party's private discussions during negotiations and uses that information to benefit their client is:Agency
- Under Arizona law, a licensee's duty to disclose known material facts to a buyer:Arizona License Law
- Arizona requires real estate licensees to disclose their license status when:Arizona License Law
- A real estate licensee in Arizona is found guilty of making a material misrepresentation to a client. Which ADRE action is most likely?Arizona License Law
- Under Arizona Commissioner's Rules, a licensee must provide a written agency disclosure to a client:Arizona License Law
Key Terms to Know
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 DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Study This Topic
Practice More Arizona Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →