when must an employing broker keep a ledger ?

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RECORDKEEPING AND TRUST ACCOUNTS 2 Flashcards – Cram.com
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When must an employing broker keep a ledger? When paying salaries to brokers. When putting money in an account to maintain it. When accepting money belonging to others. When receiving an earned commission

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When Must An Employing Broker Keep A Ledger? – (FIND THE …

📒 When Must An Employing Broker Keep A Ledger?

This record must show the monetary transactions affecting each individual beneficiary and must segregate such transactions from those pertaining to other beneficiaries of the trust account. The Real Estate Commision does not require a ledger when an Employing Broker is only managing company money. However, if s/he accepts money belonging to others both an escrow account and a ledger for that …

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Colorado Real Estate Test 10 Flashcards | Quizlet
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When must an employing broker keep a ledger? A. When paying salaries to brokers B. When putting money in an account to maintain it C. When accepting money belonging to others D. When receiving an earned commission

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State Licensing Exam Questions – I just… – Colorado Real …
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7) when must an employing broker keep a ledger? 1) when putting money in an account to maintain it 2) paying salaries to brokers 3) don’t remember 4) don’t remember. Answer: Oh boy..need more clues as to the potential answers but… my best guess is when the employing broker receives any money belonging to others.

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Record keeping and Trust Accounts 1 Flashcards | Quizlet
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An employing broker (AKA sponsoring broker) is required to: interest may accrue to a nonprofit affordable housing fund. According to the provisions in the Contract to Buy and Sell Real Estate, if a broker has an interest-bearing trust account, the: have the words trust or escrow after the type of account.

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Study RECORDKEEPING AND TRUST ACCOUNTS 1 Flashcards | Quizlet
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The Real Estate Commision does not require a ledger when an Employing Broker is only managing company money. However, if s/he accepts money belonging to others both an escrow account and a ledger for that account is required.

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CRE: Recordkeeping & Trust Accounts 2 Exam Flashcards …
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When accepting money belonging to others If there is a dispute regarding earnest money The broker has a choice to interplead the money or await written instructions from the parties A broker must keep:

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Definition Of Employing Broker In Real Estate
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It is mandatory for a real estate agent to have an employing broker listed on their application in order to receive an active license. An employing broker also has the responsibility of mentoring agents, holding the license of the agents, provide office space, collect commissions, and make payouts to agents. A managing broker is a person designated to represent the company in front of the Commission. In order to be the manager of the company, you need to have the Managing Broker …

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4 Reasons to Keep a Physical Check Ledger
https://www.thebalance.com/four-reasons-for-keeping-a-physical-check-ledger-315491
Keeping the ledger with a checkbook offers an added bonus: emergency cash. If you need cash at the last minute, you can simply write a check to yourself, take it to your local bank and receive cash. You don’t have to go to an ATM and use a debit card and you won’t be hit with any additional fees for cashing a check. Writing a check only takes a minute and is accepted as payment (with ID) at most business establishments.

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