Draw

### What is the primary action involved in a financial draw? - [x] Withdrawing money from an account - [ ] Depositing money into an account - [ ] Transferring money between accounts - [ ] Balancing the account > **Explanation:** A financial draw typically refers to the action of withdrawing money from an account. ### Can a draw be an advance against future commissions? - [x] Yes - [ ] No - [ ] Only in special circumstances - [ ] Depends on the amount > **Explanation:** A draw can indeed be an advance against future commissions, often agreed upon in employment contracts. ### What is drawn during the execution of a check? - [x] Money from a specified account - [ ] A loan from a bank - [ ] Advance payment - [ ] Financial advice > **Explanation:** During the execution of a check, money is drawn from a specified bank account. ### Who typically draws legal documents? - [x] Legal professionals - [ ] Bankers - [ ] Accountants - [ ] Retail managers > **Explanation:** Legal documents are typically drawn by legal professionals such as attorneys. ### What does it mean to draw up a will? - [x] To prepare a draft of a legal document for distribution of assets after death - [ ] To withdraw funds for legal fees - [ ] To allocate investments - [ ] To apply for a loan > **Explanation:** Drawing up a will involves preparing a legal document that details the distribution of assets after death. ### What is typically required to draw funds from an account? - [x] Account holder authorization - [ ] A legal authorization - [ ] Special bank permits - [ ] None of the above > **Explanation:** Authorization from the account holder is typically required to draw funds from their account. ### Is drawing a check related to legal drafting? - [ ] Yes - [x] No - [ ] Only in contractual contexts - [ ] Sometimes > **Explanation:** Drawing a check refers to a financial transaction and is not directly related to legal drafting. ### What does a realtor's draw against commission involve? - [x] Advance payment before final commission payout - [ ] Deducting expenses from commission - [ ] Full commission payment beforehand - [ ] Reimbursement of previous payments > **Explanation:** A realtor's draw against commission involves an advance payment of a portion of the expected commission before the final payout. ### What type of account is commonly associated with drawing checks? - [x] Checking account - [ ] Savings account - [ ] Investment account - [ ] Retirement account > **Explanation:** A checking account is commonly associated with drawing checks to facilitate smooth transactions. ### For what duration can legal documents like complaints and wills be drawn by attorneys? - [x] Over any essential period needed - [ ] Within 24 hours - [ ] Only during business hours - [ ] Immediately > **Explanation:** Legal documents like complaints and wills can be drawn by attorneys over any essential period needed, depending on their complexity and requirements.