Agency
What is the duty of an Idaho agent to 'account' for money?
AFiling tax returns on behalf of clients
BAccurately tracking, holding, and reporting all funds received on behalf of clients, including earnest money and rents✓ Correct
CProviding a monthly financial statement to clients
DNotifying IREC of all financial transactions
Explanation
The duty to account requires agents to maintain accurate records of all client funds, deposit them in the appropriate trust accounts, and provide clients with an accurate accounting of funds received and disbursed on their behalf.
Related Idaho Agency Questions
- What is the 'dual agency disclosure form' required in Idaho disclosed limited agency transactions?
- The duty of obedience in agency relationships requires an agent to:
- In Idaho, a seller's agent who discovers a hidden structural defect while showing the property is required to:
- Stigmatized property refers to property that:
- Which of the following best describes 'puffing' in real estate?
- A seller instructs their Idaho listing agent to disclose the minimum price they will accept to any interested buyer. The agent should:
- Can an Idaho buyer's agent show properties that are not listed on the MLS?
- In Idaho, an agent representing a buyer must disclose to the seller which of the following?
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →