Question

All licensees should give earnest money checks to their sponsoring broker immediately who must deposit said earnest money by:_______
a. the third day following the contract acceptance.
b. the next business day of contract acceptance.
c. within seventy four hours from the time the offer is delivered.
d. the third day following the final counteroffer.

Answer 1

Answer:

b)the next business day of contract acceptance.

Explanation:

A license which is reffered to as a permit to authority should make sure their sponsoring brokers were given earnest money checks after the contract has been accepted so that it can becomes a legal deal.

It should be noted that All licensees should give earnest money checks to their sponsoring broker immediately who must deposit said earnest money by the next business day of contract acceptance.