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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?

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

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

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

Under what circumstances should the form be used?

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

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

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

What triggers the need for using the disclosed form?

The Licensee or an affiliated licensee having a financial interest in a recommended service. 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)

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