Disclosure of Financial Interest Quiz
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Questions and Answers

What must be disclosed at the time any service provider is recommended?

  • Payment terms
  • Service provider's qualifications
  • Consumer's personal information
  • Financial interest (correct)

    • What action is not required regarding recommended services?

  • Recommending to others
  • Purchasing the services (correct)
  • Accepting by signing and dating
  • Disclosing financial interest

    • Who must accept and date the disclosure of financial interest?

  • Consumer (correct)
  • Service Provider
  • Realty Company
  • Homeowner

    • When should the disclosed form be used?

    <p>When the Licensee or an affiliated licensee has a financial interest in a service recommended to a consumer.</p> Signup and view all the answers

    What is the purpose of the disclosed form mentioned in the text?

    <p>To inform the consumer about the Licensee's financial interest in recommended services.</p> Signup and view all the answers

    Under what circumstances should the form be used?

    <p>Only when financial gain is involved for the Licensee or an affiliate.</p> Signup and view all the answers

    What does it mean if a consumer purchases a service in which the Licensee has a financial interest?

    <p>The Licensee will receive payment or financial gain from the purchase.</p> Signup and view all the answers

    What triggers the need for using the disclosed form?

    <p>The Licensee or an affiliated licensee having a financial interest in a recommended service.</p> Signup and view all the answers

    In your own words, please give a brief explanation of this document as you would present it to client. (Role Play)

    Signup and view all the answers

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