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Alabama Exam Final Questions with 100% Correct Answers
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Alabama Exam Final Questions with 100% Correct Answers
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1 of 20Term
Which of the following is TRUE of trust funds in the case that a
transaction is not consummated?
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Funds will be disbursed only with a written agreement signed by all parties
or pursuant to a court order.
, The new qualifying broker must notify the salesperson's change of employer with
the Association of Realtors.
A qualifying broker destroys old records of contracts, leases, listings, and other
real estate transaction records that are more than 3 years old.
buyer receives equitable title to the property.
"Equitable title" means that the prospective buyer has obtained the right to
acquire ownership of a property currently owned and occupied by another.
Don't know?
2 of 20
Term
Which of the following circumstances does NOT violate the license
law?
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A qualifying broker destroys old records of contracts, leases, listings, and
other real estate transaction records that are more than 3 years old.
The new qualifying broker must notify the salesperson's change of employer with
the Association of Realtors.
buyer receives equitable title to the property.
, "Equitable title" means that the prospective buyer has obtained the right to
acquire ownership of a property currently owned and occupied by another.
Funds will be disbursed only with a written agreement signed by all parties or
pursuant to a court order.
Don't know?
3 of 20
Term
For how long must a broker maintain records of all real estate
transactions?
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3 years 10 years
A minimum of 3 years 9 members.
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