Agency
Under Idaho law, what fiduciary duty does an Idaho agent owe to their principal regarding accounting?
ATo account for all financial matters related to the transaction and promptly deliver money and property belonging to the principal✓ Correct
BTo audit the principal's personal finances
CTo maintain the principal's business accounts
DTo file the principal's tax returns
Explanation
The duty of accounting requires Idaho agents to promptly account for and deliver all money, documents, and property received on behalf of the principal. Agents must keep accurate records of all client funds, maintain trust accounts properly, and never commingle client funds with personal or business funds.
Related Idaho Agency Questions
- In Idaho, which agency relationship is created when both the buyer and seller are represented by agents from the same brokerage?
- Under Idaho law, what happens to the agency relationship when a real estate transaction closes?
- What does 'accounting' as an agent's duty mean in Idaho?
- A seller's agent receives an offer that is below the listing price. The agent believes the offer is fair given market conditions. The agent should:
- What is the duty of 'disclosure' in an Idaho agency relationship?
- In Idaho, if an agent who represents a buyer wishes to purchase the same property for themselves, they must:
- What is the duty of an Idaho agent to 'account' for money?
- The fiduciary duty of 'accounting' requires an agent to:
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →