Alabama Real Estate Practice Exam 2025 – All-in-One Guide to Master Your Real Estate License!

Question: 1 / 400

What does a credit represent in transactions related to closing costs?

Money that is to be paid at a future date

Money paid by one party to the other

A This option is incorrect because a credit represents money that is already paid, not to be paid at a future date.

C: This option is incorrect because a credit does not represent interest accrued. It represents a specific amount of money.

D: This option is incorrect because a credit does not represent a discount. It represents the actual amount paid by one party to the other.

Interest accrued on the loan

A discount on the services provided

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