Alabama License LawIntermediateAlabama Exam
Which of the following is TRUE about Alabama's Real Estate Recovery Fund?
AClaims are paid without limit per transaction
BThere is a maximum amount that may be paid per licensee and per transactionCorrect
CThe fund covers losses caused by licensed home inspectors, as a general rule
DThe fund is funded by the Alabama state budget
Why There is a maximum amount that may be paid per licensee and per transaction Is Correct
Answer B: There is a maximum amount that may be paid per licensee and per transaction
The Alabama Real Estate Recovery Fund has statutory limits on the maximum amount that may be paid out per transaction and per licensee over their career.
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