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. This episode covers content for the National Real Estate Exam.

In this episode you will learn:

• The legal distinction between a client and a customer in agency law.

• The four ways an agency relationship is created including express and implied methods.

• How to apply the OLD CAR mnemonic to fiduciary duty exam scenarios.

• The critical differences between the duties of loyalty and disclosure to a principal.

• Why the source of commission payment does not establish an agency relationship.

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