Arkansas Real Estate Salesperson Exam — All Questions

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1 questions

Real Estate Practice in Arkansas

Earnest money an Arkansas salesperson receives from a buyer must be:

  • a.Delivered promptly to the principal broker for deposit in the firm's trust account✓
  • b.Held by the salesperson until closing
  • c.Deposited in the salesperson's personal account
  • d.Given directly to the seller with the offer

Trust funds, including earnest money, are handled through the firm's trust account, for which the principal broker is responsible. A salesperson who receives such funds must deliver them promptly to the principal broker. Commingling or converting trust money is a serious violation of Arkansas license law.

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