RESIDENTIAL REAL ESTATE EXAM 2024 |
COMPLETE SOLUTIONS 100% ACCURATE.
Fiduciary Duty Principles - • Loyalty
• Trust and confidence
• Best interest
What Are The 8 General Obligations? - • Exercise care and skill
• Act honestly
• Negotiate favorable terms
• Maintain confidentiality
• Disclose information
• Act in person
• Obey lawful instructions
• Perform mandate
what are the 6 Fiduciary Duties - • Provide utmost loyalty
• Not make secret Profits
• Handle confidential Information properly
• To account
• Avoid conflict of interest
• Disclose conflict of interest
5Ds Of Role Clarity - 1.Discuss
2.Determine
3.Document
4.Disclose
5.Do
Patent Defect - A visible, apparent defect that can be seen in a reasonably thorough
inspection of property.
Patent defects can be either minor or material
what are the three types of property defects? - • Patent Defect
• Latent Defect
• Material Latent Defect
Latent Defect - a hidden structural defect that would not be discovered by ordinary
inspection
COMPLETE SOLUTIONS 100% ACCURATE.
Fiduciary Duty Principles - • Loyalty
• Trust and confidence
• Best interest
What Are The 8 General Obligations? - • Exercise care and skill
• Act honestly
• Negotiate favorable terms
• Maintain confidentiality
• Disclose information
• Act in person
• Obey lawful instructions
• Perform mandate
what are the 6 Fiduciary Duties - • Provide utmost loyalty
• Not make secret Profits
• Handle confidential Information properly
• To account
• Avoid conflict of interest
• Disclose conflict of interest
5Ds Of Role Clarity - 1.Discuss
2.Determine
3.Document
4.Disclose
5.Do
Patent Defect - A visible, apparent defect that can be seen in a reasonably thorough
inspection of property.
Patent defects can be either minor or material
what are the three types of property defects? - • Patent Defect
• Latent Defect
• Material Latent Defect
Latent Defect - a hidden structural defect that would not be discovered by ordinary
inspection
