Real Estate Exam [California] 15, Agency Relationships and Fiduciary Duties

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - The crucial difference between a client (owed fiduciary duties) and a customer (owed honesty and fairness). - How to distinguish between a special agent (for a specific transaction) and a general agent (with ongoing duties). - The six fiduciary duties represented by the mnemonic OLDCAR: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable Care. - Common exam traps, such as handling a client's unlawful instructions or a buyer asking for confidential information. - Key ways an agency relationship is created and terminated in California, including by operation of law like the death of the principal. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep