Which of the following best describes a trust fund Study guides, Class notes & Summaries

Rebecca receives an earnest money deposit in the amount of $12,000. Which of the following statements best describes the deposit of this trust money? Rebecca may deposit it in the firm's regular trust account. Rebecca must deposit it in an individual trust account set up for just this client. Rebecca must deposit the funds in a non-interest bearing trust account. Rebecca must deposit the funds into a DOL special trust fund account. - ANSWERS**Rebecca may deposit it in the firm's re...

CIW IBA Certification Test Questions and Answers Already Graded A You opened an e-mail attachment and it launches a virus. The virus takes control of your system and you are unable to run your anti-virus software. Which of the following is the best step for you to take next? Turn off your computer and reboot from a known, clean system disk. You just received a joke that was e-mailed to you by a co-worker. You find the joke funny and consider forwarding it to another co-worker that you trust. W...

Cannon CTFA Prep Questions with complete Answers 2023 Jean and John Simmons are married and own their own home as tenants by entirety. When John dies the home is valued at $350,000. How much will be counted in his gross taxable estate? A. None, as it passes directly to his spouse, Jean. B. $175,000 - or one-half of the value C. $225,000 - or the full amount minus the $125,000 one-time exclusion for capital gains on a person residence. D. $350,000 - the full amount is includable. B. $175,...

Auditing Exam 1|359 Questions with Verified Answers 1. Which of the following would be considered an assurance engagement? a. Giving an opinion on a prize promoter's claims about the amount of sweepstakes prizes awarded in the past. b. Giving an opinion on the conformity of the financial statements of a university with generally accepted accounting principles. c. Giving an opinion on the fair presentation of a newspaper's circulation data. d. Giving assurance about the average drive len...

30 HR WA Real Estate Practice Exam With Answers Latest 2023/2024 Graded A+. You are recording an accrued expense for your seller client, Sam Bosworth. This represents an item that Sam ____________________. - Answer Has incurred but hasn't paid Because proper trust fund handling and record keeping is extremely important, the ________ conducts routine audits of real estate companies. - Answer Washington State Department of Licensing Karen would like to sell her own home. What's the minimum...

CPH Exam Practice 87 Questions with Verified Answers Public Health professionals have to learn to work effectively with the media. Public health is potentially appealing for the popular press because: 1. its stories have urgency, drama and novelty. 2. it is a source rich in detail, facts and figures. 3. scientists and journalists have a long history of mutual trust. 4. public information officers issue press releases. - CORRECT ANSWER its stories have urgency, drama and novelty in th...

Turn off your computer and reboot from a known, clean system disk. - Answer- You opened an e-mail attachment and it launches a virus. The virus takes control of your system and you are unable to run your anti-virus software. Which of the following is the best step for you to take next? Offending a recipient who receives the joke as a result from further forwarding - Answer- You just received a joke that was e-mailed to you by a co-worker. You find the joke funny and consider forwarding it to ...

WASHINGTON STATE PORTION (REAL ESTATE EXAM) EXAM | QUESTIONS & 100% VERIFIEDANSWERS | LATEST UPDATE | PASSED Rebecca receives an earnest money deposit in the amount of $12,000. Which of the following statements best describes the deposit of this trust money? Rebecca may deposit it in the firm's regular trust account. Rebecca must deposit it in an individual trust account set up for just this client. Rebecca must deposit the funds in a non-interest bearing trust account. Rebecca mus...

Florida Real Estate Final Exam Questions and Answers Latest Updated GradedA+. Can a new licensee specialize in the sale of farm and ranch property? a. Not until the licensee has at least five years of experience in agricultural real estate b. Not until the licensee passes additional courses in agricultural real estate c. Yes, a new licensee can specialize in agricultural real estate d. Yes, as long as the new licensee has a degree in agriculture c. Specialization doesn't require additiona...

Primerica Life Insurance Exam: Questions & Answers (with explanations) GRADED A An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock A. mutual funds not paid out after paying claims and other operating costs...