Episode Details

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 six fiduciary duties defined by the acronym OLD CAR: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable Care. - How the duty of Obedience is strictly limited to lawful instructions, a common exam trap. - Why the duty of Confidentiality extends forever and survives the termination of the agency relationship in Texas. - The critical distinction between the fiduciary duty of Disclosure to a client versus the general duty to disclose known property defects to all parties. - The serious consequences for breaching a fiduciary duty in Texas, including license revocation by the Texas Real Estate Commission (TREC). 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