Agency
The duty of accounting in an agency relationship requires the agent to:
AFile tax returns on behalf of the client
BSafeguard and account for all money and property entrusted by the client✓ Correct
CPrepare monthly profit and loss statements
DConduct annual audits of trust accounts
Explanation
The duty of accounting requires the agent to keep accurate records of all money and property entrusted by the client, report on their handling, and return funds promptly when required.
Related Georgia Agency Questions
- A Georgia agent's fiduciary duty survives which of the following?
- A Georgia licensee who represents both the buyer and seller in a transaction (dual agent) must:
- A Georgia licensee who has a buyer seeking to purchase a property that the licensee personally owns should:
- Sub-agency occurs when:
- In which scenario is an agent MOST likely to have a conflict of interest?
- Under the Georgia Brokerage Relationships in Real Estate Transactions Act (BRRETA), the disclosure of brokerage relationships must be made:
- In Georgia, which fiduciary duty requires an agent to place the client's interests above their own?
- Which of the following is an example of an expressed agency relationship?
Practice More Georgia Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Georgia Quiz →