Arkansas Real Estate Practice Exam

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Get ready to ace your Arkansas Real Estate Exam. Use our engaging quizzes with flashcards and multiple choice questions to enhance your study experience. Prepare effectively by testing your knowledge and understanding of Arkansas real estate laws and practices!

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How must cash receipts for property management be prepared?

Consecutively pre-numbered and in duplicate form
In triplicate and electronically stored
Handwritten and signed by the tenant
Printed and notarized

The correct answer is: Consecutively pre-numbered and in duplicate form

Cash receipts for property management must be prepared consecutively pre-numbered and in duplicate form for record-keeping purposes. Option B is incorrect because while electronic storage may be convenient, it does not provide a physical backup in case of technical issues or discrepancies. Option C is incorrect because handwritten receipts may be difficult to read and tenant signatures may not always be legible or consistent. Option D is incorrect because property management receipts do not typically require notarization. Therefore, the most accurate and efficient method is to have consecutively pre-numbered receipts in duplicate form for tracking and organizational purposes.