Florida Broker Practice Exam

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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.

Which of the following duties does NOT apply to a Transaction Broker?

Account for all funds
Act with full obedience
Present all offers in a timely manner
Disclose all known facts affecting value

The correct answer is: Act with full obedience

In a transaction broker relationship, the broker's role is to facilitate the transaction without representing either party as a fiduciary. This means that the transaction broker does not owe the same level of duties to either party as a fiduciary would, which includes the duty of full obedience. Instead, a transaction broker is expected to act in a neutral manner. This role includes duties such as accounting for all funds, presenting all offers in a timely manner, and disclosing all known facts that might affect the value of the property. However, acting with full obedience would typically require the broker to follow the specific instructions of one party, which is not part of the transaction broker's responsibilities since their duty is to assist both sides without advocating for one over the other. Therefore, the absence of the duty to act with full obedience is what differentiates the transaction broker from other agency relationships, making this option the correct choice.