Alberta Real Estate Licensing Exam Practice · Question
According to the Real Estate Act Rules, a broker must ensure that all funds held in the brokerage's trust account are:
Trust funds must be kept separate from the brokerage's operating funds to protect client monies.
Start free practice for Alberta Real Estate Licensing Exam Practice
400 questions · no signup required · 40 free questions per day
Question: According to the Real Estate Act Rules, a broker must ensure that all funds held in the brokerage's trust account are:
Answer options: ✅ Held separate from the brokerage's general operating funds.
- Invested in high-yield securities.
- Transferred to the designated official's personal account.
- Used to cover brokerage expenses if necessary.
Correct answer: Held separate from the brokerage's general operating funds.
Explanation: Trust funds must be kept separate from the brokerage's operating funds to protect client monies.
Start free practice for Alberta Real Estate Licensing Exam Practice
400 questions · no signup required · 40 free questions per day
More about Alberta Real Estate Licensing Exam Practice
Related Questions
- A buyer is purchasing a property for $550,000. They have secured a mortgage for $440,000. What is the Loan-to-
- Commission in Alberta is:
- A real estate associate, Sarah, is representing a buyer. While showing a property, the buyer expresses a stron
- An associate prepares a listing agreement for a seller. Which of the following is NOT typically required to be
- A brokerage receives a certified cheque for a $15,000 deposit on a residential property. Within how many busin
- A real estate associate, Maria, wants to purchase a property that her brokerage has listed. What is Maria's pr
More for Alberta Real Estate Licensing Exam Practice candidates
Study guides
FAQs
Question explanations
- A buyer is purchasing a property for $550,000. They have secured a mortgage for $440,000. What is the Loan-to-
- Commission in Alberta is:
- A real estate associate, Sarah, is representing a buyer. While showing a property, the buyer expresses a stron
- An associate prepares a listing agreement for a seller. Which of the following is NOT typically required to be
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free Alberta Real Estate Licensing Exam Practice Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.