DRE & LicensingIntermediateCalifornia Exam
Under California law, the maximum amount a broker may keep of their own funds in a trust account (to cover bank service charges) is:
A$100
B$200Correct
C$500
D$1,000
Why $200 Is Correct
Answer B: $200
A broker may keep up to $200 of their own funds in a trust account to cover bank fees and maintain the account. Keeping more than that constitutes commingling and is a violation of the Real Estate Law.
People Also Study
Related California Questions
- Under California law, a real estate broker who manages property for clients must maintain a separate trust account for client funds. Mixing client funds with the broker's personal funds is called:Agency
- A broker may maintain a personal (broker's) funds balance in the trust account of up to how much to cover bank service charges?Trust Funds
- A real estate licensee in California is found to have commingled client funds with their personal bank account. This violates:DRE & Licensing
- A broker may keep a maximum of how much of the broker's own funds in the trust account without it being considered commingling?Trust Funds
- California regulations require that a broker maintain a 'trust fund bank account record' (journal). What does this record show?Trust Funds
- What is the maximum amount a broker may keep in their trust account from personal funds?Trust Funds
- When a real estate broker receives a deposit check from a buyer, California law requires the broker to place the funds in a trust account or deliver them to the escrow within:DRE & Licensing
- What is the maximum amount a single claimant can recover from the California Real Estate Recovery Account for acts committed by one licensee?DRE & Licensing
State-Specific Concepts
Trust Account Rules
Study This Topic
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →