Iowa License Law
Iowa's real estate license law requires a broker to maintain a trust account. Which of the following funds should NOT be deposited into the trust account?
AEarnest money deposits
BRental security deposits
CThe broker's personal commission earned from a completed transaction✓ Correct
DProperty management rent receipts held for owners
Explanation
Trust accounts must contain only client/customer funds — such as earnest money, security deposits, and managed rental receipts. The broker's own earned commission is the broker's personal income and must not be deposited into the trust account to avoid co-mingling.
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