What must a licensee disclose according to federal law?

A licensee must disclose anything required to be disclosed by federal law to ensure compliance with relevant statutes and regulations governing real estate transactions. This encompasses a wide range of information, including but not limited to material facts about the property, known defects, and any specific disclosures related to environmental hazards or lead-based paint, as stipulated by various federal regulations. This requirement promotes transparency and protects both buyers and sellers in real estate dealings.

In contrast, the other options represent more limited scopes of disclosure. Financial information, property defects, and offers from potential buyers are all important aspects of a real estate transaction, but they do not encapsulate the entirety of what federal law mandates. Federal law requires a broader approach, including any disclosures that may be crucial for making informed decisions in real estate transactions, thus making the first option the most comprehensive and accurate choice.