Law of Agency - Types of Agency

What is the best explanation of fiduciary?

• Being Bestfriends

• Putting someone else's interests and needs first

• Doing everything for your client

As an agent, you owe fiduciary responsibilities to the customer.

• True, you owe everyone fiduciary responsibilities

• True, you owe customers fiduciary responsibility

• False, you do not owe anyone fiduciary responsibilities

• False, you only owe fiduciary responsibilities to your client

What is the same type of relationship as Principal?

• Client

• Customer

• Agent

​ (a)   agency is when you represent both, the buyer and the seller.

• Dual
• Single
• Exclusive
• Independent
• Collaborative

Which of the following is NOT a type of agency?

• Universal

• Specific

• General

• Special

What kind of agency does real estate typically involve?

• Special

• General

• Universal

Under Universal agency, the agent can sign for the client.

• True

• False