Agency
What is 'fiduciary duty' and why is it central to Nevada real estate agency law?
AA financial duty requiring agents to pay their clients' taxes
BThe highest standard of care and loyalty owed by an agent to their principal — in Nevada, licensed real estate agents owe fiduciary duties of loyalty, confidentiality, disclosure, obedience, accounting, and reasonable care to their clients✓ Correct
CA Nevada state requirement for agents to maintain fidelity bonds
DA duty only applicable when the agent is also the principal's attorney
Explanation
Fiduciary duty reflects the highest legal standard of care and trust. When a Nevada licensee acts as an agent (representing a client), they owe the client fiduciary duties: Loyalty (prioritize client's interests), Confidentiality (protect client's private information), Disclosure (reveal all material facts), Obedience (follow lawful instructions), Accounting (handle funds properly), and Reasonable Care (apply professional competence).
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