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AgencyDual_and_designated_dual_agencyMEDIUM

A compliance reviewer in Greenville is preparing an exam-prep note on dual agency and designated dual agency. Which statement best applies under current North Carolina law?

Correct Answer

C) The purpose of designated dual agency is to allow separate affiliated agents to assist opposite sides while the firm remains in a dual agency posture.

The purpose of designated dual agency is to allow separate affiliated agents to assist opposite sides while the firm remains in a dual agency posture.

Answer Options
A
Designated dual agency is only a marketing term and has no compliance effect.
B
Designated dual agency means there is no dual agency at all under current North Carolina rules
C
The purpose of designated dual agency is to allow separate affiliated agents to assist opposite sides while the firm remains in a dual agency posture.
D
Designated dual agency creates two entirely unrelated firms for one transaction.

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Related Topics & Key Terms

Key Terms:

designated_dual_agencydifficulty_3dual_agencydual_and_designated_dual_agencyfirm_structurenc_agency_brokerage_relationshipsnc_statenorth_carolinatiming_forms_exceptions_and_authority
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