License Law & RulesQuestion 28 of 120
Which of the following is one of the duties a Florida single agent owes that a transaction broker does not?
a.Dealing honestly and fairly
b.Accounting for all funds
c.Disclosing known material facts affecting value
d.Loyalty and full confidentiality to the principal
Explanation
A single agent owes full fiduciary duties including loyalty, confidentiality, obedience, and full disclosure to the principal. A transaction broker owes a more limited set of duties and does not owe loyalty or full confidentiality. Both relationships require honesty, accounting, and disclosure of material facts.
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