Ace the Arkansas Real Estate Test 2025 – Unlock Your Property Pro Potential!

Question: 1 / 400

What must be provided for any cash funds received under a property management agreement?

A legible written receipt

Cash funds received under a property management agreement must be provided with a legible written receipt. This is because a written receipt serves as a tangible proof of transaction that both parties can refer to in case of discrepancies. An electronic receipt may not be sufficient as it can easily be altered or misplaced. A verbal confirmation is also not enough as it does not provide concrete evidence of the transaction. Similarly, a bank deposit slip may not be enough as it only indicates the deposit being made, but not specifically for the purpose of the property management agreement. Therefore, a legible written receipt is the most important and reliable form of documentation for cash funds received under a property management agreement.

Get further explanation with Examzify DeepDiveBeta

An electronic receipt

A verbal confirmation

A bank deposit slip

Next Question

Report this question

Download Arkansas Real Estate Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy