If you borrowed a friend's car and you are involved in an accident, any physical damage insurance on borrowed car is primary and your physical damage coverage is excess.

A broker should NOT disburse trust funds from a designated trust account under the following circumstances:

A. Upon rejection of an offer to buy the real estate. B. Upon the withdrawal of an offer to buy real estate. C. Upon written consent of the buyer only to pay for a termite inspection. D. At the closing of the real estate transaction.

The major disadvantage of a sole proprietorship is:

A) The difficulty in transferring ownership to others. B) The unlimited liability for the business's debts. C) The sharing of management authority with others. D) The difficulty and cost of formation.