Commingling funds - Study guides, Class notes & Summaries

1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 CORRECT ANSWER c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real estate CORRECT ANSWER a. attorneys admitted to pract...

Broker Zeke is busy and doesn't have time to go to the bank, so he deposits his client's earnest money funds into his personal account. He plans to move the funds to the appropriate account within a week. This violation is an example of ______. a. Commingling b. Contractual Interference c. Failure to disclose an agency relationship d. Performing services that would qualify as practice of law - ANSWER-a. Commingling Which regulation sets forth the Virginia Real Estate Board's licensin...

FAMILY LAW FINAL EXAM 2024 WITH 100% ACCURATE SOLUTIONS Spouses can agree on their own what is in the best interest of their child. - correct answer False Family law paralegals who violate ethics can be disciplined by the bar association. - correct answer False Commingling of funds is mixing general law firm funds with client funds in a single account. - correct answer True Paralegals who violate ethical rules can be: -both a & c -disbarred by a court -none of the above -su...

The Department of State's ability to enforce license laws through reprimand and denial as well as the suspension and revocation of licenses is known as...? - correct answer Administrative Discipline To mingle or mix funds is known as what...? - correct answer Commingling Chris is a real estate broker involved in a residential transaction. When Chris illegally places his client's funds into his personal account, what is he engaged in...? - correct answer Commingling of Funds The ...

Pearson Vue Test Questions and answers, 100% Accurate, Graded A+. Approved. Which of the following terms BEST describes personal property that, by its attachment to real property, is regarded as real estate? A. Emblements B. Personality C. Fixtures D. Appliances - -C A salesperson who completes a written listing agreement with a seller is helping to create a contractual relationship between the: A. salesperson and the seller B. salesperson and the buyer C. sal...

1. To be licensed as a real estate broker, an individual must be at least how old? a. 16 b. 18 c. 20 d. 21 - Answer c. 20 2. Which of the following individuals is exempt from licensure? a. attorneys admitted to practice in the New York courts b. property managers who manage property for more than one individual or company c. individuals who only list property for sale d. auctioneers who only auction commercial real estate - Answer a. attorneys admitted to practice in...

What is the form you sign that says you will pay the loan back ? -ANSWER promissory note What is the post licensing grace period after first expiration ? -ANSWER none Deposits is a form of... -ANSWER valuable consideration Physical land and improvements -ANSWER real property Is it a violation if a sales associate work for two brokers Monday-Friday, and Saturday and Sunday and getting paid commission from both -ANSWER Yes What is the maximum fine per offense ? -ANSWER $5,000 per fi...

Enable the agency to pass specific regulations and rules to support the administration of the license law Regulatory Powers Enable it to conduct hearings and investigations into the activities of licensees and to rule on license suspensions or revocations Judicial Powers Enable it to establish the staff organization, records, and facilities to manage the licensing process and the licensees themselves Administrative Powers Protect the public Mission of the Tennessee Real ...

1. Which law is the foundation of statistical prediction of loss upon which rates for insurance are calculated? A) Law of Group Evaluation B) Law of Large Numbers C) Law of Masses D) Law of Averages Answer : B) Law of Large Numbers 2. A producer who fails to segregate premium monies from his own personal funds is guilty of: A) Theft B) Commingling C) Larceny D) Embezzlement Answer : B) Commingling 3. In insurance, an offer is usually made when: A) The completed application is submit...

PSI PA Property and Casualty Exam Study Guide Already Graded A According to the insurance law, who is the principal? Broker An application as a resident agent must be made in how many days if an individual establishes a principal place of residence within Pa from another state? 90 days issued for 180 days for surviving spouse, surviving inactive officer or partner, legal representative. Can be used upon death or incompetency of producer, or when individuals are serving in the milita...