Agency
The duty of accounting in a real estate agency relationship requires the agent to:
APrepare the seller's tax returns
BPromptly account for all funds received on behalf of the principal✓ Correct
CAudit the brokerage's financial records
DProvide the client with a market analysis quarterly
Explanation
The duty of accounting requires the agent to promptly and accurately account for all money or property received on behalf of the client — including earnest money, deposits, and rents.
Related New Hampshire Agency Questions
- A NH seller's agent who accepts earnest money from the buyer on the seller's behalf must:
- A NH seller's agent who is also a licensed contractor and offers to do repairs on the property they are listing has a:
- A NH buyer's agent has the buyer's written authority to negotiate on their behalf. During negotiations, the agent can:
- A New Hampshire listing agent represents the seller. When a buyer without a buyer's agent contacts the listing agent, the listing agent may:
- A NH real estate agent shows a buyer a property and the buyer makes an offer. The seller accepts. The agent then tells the seller the buyer would have paid more. This violates the agent's duty of:
- When a NH buyer's agent learns that the seller has disclosed material defects in the property, the agent's duty to the buyer includes:
- A NH broker who is the designated agent for the seller in a transaction where their brokerage firm also represents the buyer has arranged:
- Which of the following best describes the difference between a 'general agent' and a 'special agent' in NH real estate?
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