Arkansas Real Estate Practice Exam

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Prepare for the Arkansas Real Estate Exam with our comprehensive quiz featuring multiple-choice questions and detailed explanations. Get ready to showcase your real estate knowledge and secure your license!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What details must be included for each deposit on a tenant's ledger?

Amount received, purpose, check number, date received, balance
Tenant's employment information, date received, amount
Check number, bank name, tenant's name, amount
Purpose, amount, tenant's signature, balance

The correct answer is: Amount received, purpose, check number, date received, balance

Each deposit on a tenant's ledger should include the amount received, purpose, check number, date received, and balance. Option B is incorrect because it only includes the tenant's employment information and amount received, but does not provide details about the deposit itself. Option C is also incorrect because it includes details about the check and bank, but does not include the purpose of the deposit. Option D is incorrect because it includes the tenant's signature, which is not necessary for recording a deposit on the ledger.