Question

Which of the following is NOT required on the initial form when opening a client trust account?

Select one:
a. The date the account was opened
b. A statement authorizing the Real Estate commissioner to examine the account
c. The account number
d. The starting balance in the account

Answer 1

The starting balance in the account is not required on the initial form when opening a client trust account.

Step-by-step explanation:

The answer is d. The starting balance in the account.

When opening a client trust account, the initial form typically requires the date the account was opened, a statement authorizing the Real Estate commissioner to examine the account, the account number, but not the starting balance in the account.

These details are important for recordkeeping and ensuring transparency in handling client funds.