Agency
What is the principle that a Nevada agent cannot represent adverse interests simultaneously without disclosure and consent?
AThe principle of confidentiality
BThe conflict of interest rule — an agent cannot represent two parties whose interests are opposed without full disclosure and written consent of both✓ Correct
CThe fiduciary loyalty principle with no exceptions
DThe anti-commingling rule
Explanation
A Nevada agent may not represent parties with conflicting interests in the same transaction without full disclosure and written informed consent from both parties. This is the foundation of the dual agency rules and Nevada's agency disclosure requirements.
Related Nevada Agency Questions
- What is the duty of 'reasonable care and diligence' owed by a Nevada licensee?
- What is 'self-dealing' in the context of Nevada real estate agency law?
- What is the duty of 'disclosure' that a Nevada agent owes to their principal?
- A Nevada licensee representing a buyer discovers the seller is a relative. The licensee must:
- What does the term 'ratification' mean in the context of Nevada agency law?
- What does 'ostensible agency' (apparent authority) mean for Nevada real estate brokers?
- What is a 'seller's agent' sometimes called in Nevada, and what are their primary duties?
- What is a 'ready, willing, and able' buyer in Nevada real estate?
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →