Aceable Agent – Finance Practice Test

Which term describes a broker who represents both sides in a transaction under intermediary rules?

Transaction Broker Dual Agent Fiduciary Limited Agent

Correct Answer:

Dual Agent

Explanation:

Representing both the buyer and the seller in the same transaction is called dual agency. In this setup, the broker must balance duties to both parties and typically obtain written consent from each side to proceed, while avoiding conflicts and maintaining confidentiality where appropriate. The term dual agent specifically captures the idea of representing two clients in one deal, which is distinct from acting as a transaction broker (neutral helper without fiduciary duties), a fiduciary (loyal to one client), or a limited agent (restricted duties to one client).

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