A NC property manager who collects a finder's fee from a vendor (such as a contractor) for directing management work to them, without disclosing this to the property owner, has:
Why Violated the fiduciary duty of loyalty and the duty of accounting Is Correct
Answer B: Violated the fiduciary duty of loyalty and the duty of accounting
Exam Tip: Property Management
Property management questions cover landlord-tenant law, security deposits, and maintenance responsibilities. Know the differences between gross, net, and percentage leases.
Key Property Management Terms in This Question
People Also Study
Related North Carolina Questions
- A property manager's primary fiduciary duty is owed to:Property Management
- A management agreement between a property manager and owner should include all of the following EXCEPT:Property Management
- A 'seller's agent' in NC owes the seller the fiduciary duty of loyalty, which means the agent must:Agency
- A property manager charges a 9% management fee on collected rents. If the property collects $18,500/month, the annual management fee is:Real Estate Math
- A NC residential property manager whose client (property owner) wants to raise rent by 50% immediately in violation of a valid lease should:Property Management
- A NC property manager who discovers a tenant is operating a home-based business in violation of the lease's 'residential use only' provision should:Property Management
Key Terms to Know
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Study This Topic
Practice More North Carolina Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →