Test Drive Quiz

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1.  Which of the following is considered trust funds?:

a) - Cash
b) - A check used as a deposit.
c) - A personal note made payable to the seller.
d) - All of the above.


2.  A real estate licensee who accepts funds from others in connection with any transaction for which a license is required must place them in:

a) - A neutral escrow depository.
b) - The hands of the offeree or owner.
c) - A trust account maintained by the licensee.
d) - All of the above.