Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Which of the following best describes "fiduciary duty"?

Duty to provide financial assistance to the client.
Duty to maintain client confidentiality, act in the client’s best interests, and provide full disclosure.
Obligation to adhere strictly to all client commands and demands.
Responsibility to disclose personal information to third parties.

The correct answer is: Duty to maintain client confidentiality, act in the client’s best interests, and provide full disclosure.

"Fiduciary duty" in real estate refers to the legal responsibility of a real estate agent to act in the best interests of their client. This duty includes maintaining client confidentiality, providing full disclosure of all relevant information, and making decisions that benefit the client. By upholding fiduciary duty, real estate agents must prioritize their clients’ needs and interests above all else. Options A, C, and D are incorrect because they do not fully capture the essence of fiduciary duty in real estate. Providing financial assistance, adhering strictly to client commands and demands, and disclosing personal information to third parties do not directly align with the comprehensive duties and obligations that constitute fiduciary duty in the real estate context.