Which of the following duties refers to a broker's obligation to keep the principal informed about financial aspects of their assignment?
A) Disclosure
B) Accounting
C) Loyalty
D) Skill and care

Question

Quizplus · Accepted Answer

Accounting refers to the broker's obligation to keep the principal informed about financial aspects of their assignment, such as expenses and profits. Disclosure refers to the obligation to provide all material information and facts to the principal. Loyalty refers to the obligation to act in the best interest of the principal, and skill and care refer to the obligation to perform duties with the necessary level of competence and expertise.

Which of the Following Duties Refers to a Broker's Obligation