Tennessee Real Estate Exam Practice Question
Trust-account records must document every related transaction EXCEPT the
Correct Answer: B
Rationale: Trust-account records are essential for maintaining transparency and compliance in financial transactions. Each transaction must document key details to ensure accountability.
A: The depositor of the funds is crucial for identifying who contributed to the trust account, making it necessary to document.
B: The listing agent's name is not required in trust-account records, as the focus is on the funds and their movement rather than the agents involved.
C: The payee of the funds must be documented to track who receives the money, ensuring proper record-keeping.
D: The date of deposit is vital for tracking the timeline of transactions, making it essential to include.
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