Agency
An agent who has an undisclosed interest in a property they are selling on behalf of a client is guilty of:
ANormal business practice
BA breach of fiduciary duty (specifically the duty of loyalty and disclosure)✓ Correct
CA violation of RESPA only
DNo violation if the price is fair
Explanation
An agent must disclose any personal interest in a transaction to their principal. Failing to disclose a personal interest while representing a client breaches the fiduciary duties of loyalty, disclosure, and good faith.
Related New Jersey Agency Questions
- In New Jersey, a 'designated agency' arrangement allows a brokerage firm to:
- An NJ agent's duty of care requires them to:
- In New Jersey, the Consumer Information Statement (CIS) must be provided to buyers and sellers:
- In New Jersey, which form must be provided to a consumer at the first substantive contact with a licensee?
- Under NJ's Buyer Agency Act, a buyer who signs an exclusive buyer agency agreement with one broker and then purchases a property through another broker without consent may:
- An agent who reveals the seller's bottom-line price to the buyer without authorization is guilty of:
- In NJ, an agent representing a buyer who learns during negotiations that the seller is in financial distress should:
- A listing agreement is a contract between the seller and:
Practice More New Jersey Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Jersey Quiz →