Tennessee Real Estate Exam Practice Question
Trust-account records must document every related transaction showing all the following information EXCEPT the
Correct Answer: B
Rationale: Trust-account records are essential for maintaining transparency and accountability in financial transactions. They must include detailed information about the funds being managed.
Option A, the depositor of the funds, is crucial as it identifies who contributed the money. Option C, the payee of the funds, is necessary to track who receives the payments. Option D, the date of deposit, is vital for maintaining accurate records and timelines.
In contrast, the listing agent's name (Option B) is not required in trust-account records, as it does not directly pertain to the transaction of the funds themselves.
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