Florida License Law
Under Florida law, a real estate broker is required to maintain escrow account records for a minimum of:
A1 year
B2 years
C3 years
D5 years✓ Correct
Explanation
Florida Rule 61J2-14.012 requires brokers to maintain all escrow account records for a minimum of 5 years. This includes bank statements, deposit records, disbursement records, and reconciliation statements. The 5-year retention requirement ensures adequate records for FREC audits and potential legal actions.
Related Florida Florida License Law Questions
- Under Florida law, how many members serve on the Florida Real Estate Commission (FREC)?
- A Florida real estate licensee who also holds a mortgage broker license wishes to earn fees on both the real estate commission and the loan origination. This dual compensation:
- Under Florida law, a licensee may accept a referral fee or compensation from a party other than their employing broker only if:
- Which agency directly regulates real estate licensees in Florida?
- A Florida sales associate must work under the supervision of:
- In Florida, which of the following best describes a 'broker associate'?
- A Florida broker associate is a licensed broker who chooses to:
- The Florida Real Estate Recovery Fund is designed to:
Practice More Florida Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Florida Quiz →