DRE & Licensing
Real estate trust funds must be deposited into the trust account within how many business days of receipt?
A1 business day
B3 business days✓ Correct
C5 business days
D7 business days
Explanation
Under California law, a broker must deposit trust funds (such as earnest money deposits) into a trust account within 3 business days of receipt, unless the purchase agreement specifies otherwise.
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