Florida Broker Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Florida Broker Exam. Study with interactive quizzes, flashcards, and multiple choice questions that include hints and explanations. Ace your exam and start your real estate career today!

Practice this question and more.

What is a duty required only in a single agent relationship?

Exercise limited confidentiality
Account for all funds
Full disclosure
Present all offers

The correct answer is: Full disclosure

In a single agent relationship, the agent has a fiduciary duty to act in the best interest of their principal, which includes the obligation of full disclosure. This means the agent must inform the principal of all relevant facts that can affect their decision-making in the transaction. This duty is essential as it helps ensure that the principal is making informed decisions based on all available information, thus reinforcing the trust and reliance placed in the agent. The specific legal and ethical obligations of full disclosure are exclusive to single agents, setting them apart from other types of relationships, such as transaction brokers, where the nature of the relationship does not require such extensive disclosure to one particular party.