Montana Property Question and Answer
[2026] | UPDATED ACTUAL Exam | Final
Review
• How long do you have to retain trust account records? -✓✓ 8 years
• How many days to deposit funds into trust accounts? -✓✓ -3 business days for
residential leasing
-3 business days for sales and non-residential leasing
• What is the max amount of personal funds that can be held in a trust account? -
✓✓ $1,000.00
• True or false the trust fund account(s) must be in Montana? -✓✓ True
• Can property managers keep funds in an interest bearing account? -✓✓ Yes,
interest cant go to anyone as long as it is designated in the contract.
• How often must you reconcile trust accounts? -✓✓ Monthly
• Who must a property manager keep a ledger for? -✓✓ Tenant
Transaction
Owner
Bank Account
Personal Funds
, • Notice to enter -✓✓ 24 hours
• Notice to clean / Cleaning notice -✓✓ 24 hours
• Notice of non-payment of rent or pets or occupants -✓✓ 3 days to correct or
vacate
• Notice of damage to property or a safety risk to others -✓✓ 3 days to vacate
• Notice of 2nd lease violation of same nature within 6 months -✓✓ 5 days
• How many days does the court have to rule on an action for possession? -✓✓ 5
days
• What is the default length for roomers? -✓✓ 7 days
• What is the minimum time needed to advise tenant that abandoned property will
be disposed of? -✓✓ 10 days
• What is the maximum time for tenant to answer a complaint? -✓✓ 10 days
• What is the maximum length to refund a security deposit are due and utilities are
paid? -✓✓ 10 days
• What is the time frame for all other infractions of a rental agreement? -✓✓ 14
days
[2026] | UPDATED ACTUAL Exam | Final
Review
• How long do you have to retain trust account records? -✓✓ 8 years
• How many days to deposit funds into trust accounts? -✓✓ -3 business days for
residential leasing
-3 business days for sales and non-residential leasing
• What is the max amount of personal funds that can be held in a trust account? -
✓✓ $1,000.00
• True or false the trust fund account(s) must be in Montana? -✓✓ True
• Can property managers keep funds in an interest bearing account? -✓✓ Yes,
interest cant go to anyone as long as it is designated in the contract.
• How often must you reconcile trust accounts? -✓✓ Monthly
• Who must a property manager keep a ledger for? -✓✓ Tenant
Transaction
Owner
Bank Account
Personal Funds
, • Notice to enter -✓✓ 24 hours
• Notice to clean / Cleaning notice -✓✓ 24 hours
• Notice of non-payment of rent or pets or occupants -✓✓ 3 days to correct or
vacate
• Notice of damage to property or a safety risk to others -✓✓ 3 days to vacate
• Notice of 2nd lease violation of same nature within 6 months -✓✓ 5 days
• How many days does the court have to rule on an action for possession? -✓✓ 5
days
• What is the default length for roomers? -✓✓ 7 days
• What is the minimum time needed to advise tenant that abandoned property will
be disposed of? -✓✓ 10 days
• What is the maximum time for tenant to answer a complaint? -✓✓ 10 days
• What is the maximum length to refund a security deposit are due and utilities are
paid? -✓✓ 10 days
• What is the time frame for all other infractions of a rental agreement? -✓✓ 14
days
