Tennessee Real Estate License Exam Practice Question
With respect to escrow or trust accounts, the broker MUST maintain accurate records for every real estate-related transaction showing all the following information EXCEPT the
Correct Answer: B
Rationale: Accurate record-keeping in escrow or trust accounts is crucial for transparency and compliance. The broker must document the depositor of the funds (A), as this identifies who provided the money. The payee of the funds (C) is essential to track where the money is going, ensuring proper disbursement. The date of deposit (D) is also necessary for chronological tracking of transactions. However, the listing agent's name (B) is not required for escrow records, as it does not directly pertain to the handling of funds, making it the exception in this context.
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