Agency
In Hawaii, a real estate agent's duty of 'accounting' means they must:
AA. File the client's tax returns
BB. Keep accurate records of all funds received and disbursed on behalf of the client and report promptly✓ Correct
CC. Provide an annual financial statement to all clients
DD. Maintain a CPA license to handle client funds
Explanation
The duty of accounting requires agents to keep accurate records of all funds handled on behalf of clients and to provide an accounting promptly when requested.
Related Hawaii Agency Questions
- In Hawaii, an agent who fails to present an offer to the seller because they personally believe it is too low is:
- When a Hawaii real estate agent represents both the buyer and seller in the same transaction, this is known as:
- In Hawaii, which of the following best describes 'ostensible agency'?
- What is 'non-exclusive buyer agency agreement' and how does it differ from an exclusive one in Hawaii?
- Under Hawaii's agency disclosure requirements, a 'transaction broker' (facilitator) relationship means:
- What is a 'commission split' between a listing broker and buyer's broker in Hawaii?
- What is 'informed consent' for a Hawaii agent to purchase a listed property from their own client?
- What is a 'transaction broker' (non-agent facilitator) and is this recognized in Hawaii?
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