In the acronym OLDCAR, what does the 'L' stand for?

In the acronym OLDCAR, what does the 'L' stand for?

• A. Obedience
• B. Disclosure
• C. Loyalty
• D. Confidentiality

Answer: (C)

L stands for Loyalty. In agency work, a broker must put the client’s interests first and avoid conflicts of interest, acting faithfully and in good faith to advance the client’s goals. This means not pursuing personal gain at the client’s expense and, when conflicts could arise, disclosing them and obtaining appropriate consent. This duty sits among other fiduciary duties like obedience, disclosure, confidentiality, accounting, and reasonable care, which together guide how a broker must behave in representing a client.

L stands for Loyalty. In agency work, a broker must put the client’s interests first and avoid conflicts of interest, acting faithfully and in good faith to advance the client’s goals. This means not pursuing personal gain at the client’s expense and, when conflicts could arise, disclosing them and obtaining appropriate consent. This duty sits among other fiduciary duties like obedience, disclosure, confidentiality, accounting, and reasonable care, which together guide how a broker must behave in representing a client.