When the agency relationship has been terminated, the licensee is no longer cons

Question

When the agency relationship has been terminated, the licensee is no longer considered the principal’s agent and does not owe any further duties to the principal, except for the following?

Loyalty

Accounting

Obedience

Care

Designated agency means the clients do not have the full level of fiduciary duties available to them that they would have if they were fully involved in seller agency or buyer agency. In this situation, the client gives up the fiduciary duty of undivided what?

Loyalty

Confidentiality

Accountability

Blind obedience

Explanation / Answer

1 Accounting

This is because accounting cannot be terminated from the taxation and government and investors view point. Another principal agent will be confidentiality.

2 Loyalty

Fiduciary means involving trust, particularly relationship between a trustee and a beneficiary. So loyalty is the correct option.

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