If an earnest money deposit is $10,000 or less, it must be placed into:
A. A pooled trust account with interest payable to the broker
B. A pooled trust account with interest payable to the state
C. A separate trust account with interest payable to the buyer
D. A separate trust account with interest payable to the seller
Answer: B. A pooled trust account with interest payable to the state
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The interest rate commercial banks charge their best customers, usually large corporations, for short-term loans is the:
a. trade credit. b. promissory note. c. prime interest rate. d. commercial paper. e. collateral.
Which of the following statements is TRUE?
a) Management accounts are normally prepared less frequently than financial accounts b) The content of management accounts is more heavily regulated than that of financial accounts c) Financial accounts are available to a wide range of users d) Management accounts are more historically-focused than financial accounts