Trust escrow accounts - Study guides, Class notes & Summaries

Escrow Midterm Study Question and answers correctly solved 2023/2024Escrows Required by law - correct answer probated property, liquor licenses, mortgage impound accounts, negotiable securities (like selling 2nd deeds of trust) Escrows Recommended - correct answer sales of real property, loans, and exchanges The third person: - correct answer is the escrow officer called the "stakeholder" Stakeholder: - correct answer is the agent of the respective parties until the escrow closes e...

NALA Paralegal Certification Exam Set Questions And Answers. NALA Canon 1 - correct answer.A paralegal must not perform duties that only an attorney may perform. Nala Canon 2 - correct answer.A paralegal may only perform tasks that are delegated and supervised by an attorney. Nala Canon 3 - correct answer.Paralegals must not engage in UPL, establish attorney client relationships, fees, or give legal opinions. Nala Canon 4 - correct answer.Paralegals may use discretion and p...

1 REAL ESTATE FL EXAM 2024/25 REVIEW QUESTIONS AND ANSWERS, RATED A+ A sales associate works under - -the direction of a broker or in some cases an owner developer A licensed appraiser is compensated for an appraisal - -With a flat fee The product/service that all real estate professionals sell is - -their expert knowledge Which area of real estate requires the highest degree of expertise? - -Counseling Which Florida Administrative Code expands upon the statutory provisions of Chapter 475,...

Idaho Insurance Questions and Answers Already Passed Each of the following is listed under the Idaho statute defining "transacting insurance" EXCEPT: premium trust accounting. The Director of Insurance has the power to regulate Insurance transactions under: Title 41 of Idaho statutes. It is illegal for an insurance company to advertise: that it is a member of the Guaranty Fund. Client funds received by the Producer may be kept in the following accounts EXCEPT: Office checking account. Whi...

MASSACHUSETTS REAL ESTATE SALESPERSON LICENSE/ EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+ RE Salesperson License requirements? - -18 years old, 40 hour class, pass the exam, must affiliate with a broker to practice and may not accept direct client payments Broker's License requirements? - -3 years salesperson experience, 40 hour class, pass the exam, $5,000 bond and pay a fee. What is MLS? - -Multiple Listing Service. It's a marketing tool used by Salespeople to show their listings...

What is the purpose of an escrow account? - Answer- Keep money that doesn't belong to you SEPARATE from personal account/money Who is responsible for looking after Escrow Accounts for property? - Answer- Broker Another name for Escrow Money (earnest money, security deposits) is_________? - Answer- Trust Money When a Broker gets Escrow/Trust money and deposit into the Escrow Account they MUST do what as well? - Answer- The Broker must write on the check and the deposit slip either the w...

SC Real Estate - State Portion Exam Practice Questions and Answers Associated Licensee - Correct Answer ️️ -Licensee who is affiliated with a BIC Broker - Correct Answer ️️ -For a fee, salary, commission Negotiates, Auctioins, Solicits a referral, Offers advisory services, Offers to act as an agent, Advertises Broker-in-Charge - Correct Answer ️️ -Has responsibility over actions of all associated licensees and real estate trust accounts Client - Correct Answer ️️ -Person ...

SC Property Management License Exam with Complete & Verified Solutions | 2024 Update PM & PMIC licenses need to renewed biennially - Answer ️️ -June 30th (end of state's fiscal year) Conversion - Answer ️️ -to use trust funds for the purpose other than the purpose of which they are held. Unlawful use of funds. Customer - Answer ️️ -a buyer, seller, landlord or tenant who uses the services of a real estate licensee but does not establish an agency relationship through a writte...

Georgia Real Estate Exam Study Guide 2024 Questions and Answers Accession - Answer- The acquisition of title by the owner of real property to those things attached to the property by others, such as tenants, trespassers, or by nature. Acre - Answer- A measure of land area equal to 43560 square feet. 43560 - Answer- The number of squarefeet in one acre. Active License - Answer- Status of an individual who has met all qualifications to practice real estate as a broker, associate broker, or ...

Each of the following is listed under the Idaho statute defining "transacting insurance" EXCEPT: - correct answer premium trust accounting. The Director of Insurance has the power to regulate Insurance transactions under: - correct answer Title 41 of Idaho statutes. It is illegal for an insurance company to advertise: - correct answer that it is a member of the Guaranty Fund. Client funds received by the Producer may be kept in the following accounts EXCEPT: - correct answer O...