Kansas Real Estate Salesperson Exam — All Questions
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1 questions
Real Estate Practice in Kansas
When a Kansas salesperson receives an earnest-money deposit, the funds must be:
- a.Kept by the salesperson until closing
- b.Deposited into the salesperson's personal account
- c.Delivered to the supervising broker to be held in the broker's trust account✓
- d.Mailed to the Kansas Real Estate Commission
Earnest money and other client funds must be handled through the supervising broker's trust (escrow) account. A salesperson must deliver received funds promptly to the broker, who must keep trust money separate from personal and business funds. Commingling or converting trust money is a serious violation of Kansas license law.