North Dakota License Law
Which of the following is TRUE about a North Dakota broker's fiduciary obligation to their client?
AThe fiduciary obligation ends when a purchase agreement is signed
BThe fiduciary obligation continues throughout the transaction until it is closed or otherwise terminated✓ Correct
CThe fiduciary obligation only applies to sellers, not buyers
DThe fiduciary obligation is optional if disclosed to the client
Explanation
A broker's fiduciary duties to their client continue throughout the transaction—from the creation of the agency relationship through closing. The duties do not end when a purchase agreement is signed.
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