North Carolina License LawIntermediateNorth Carolina Exam
The NCREC requires that all trust account records be retained by the broker for a minimum of:
ASimply a flat 1 year, shorter than North Carolina's actual license-experience or record-retention requirement
B3 yearsCorrect
CSimply a flat 5 years, longer than the actual federal Fair Housing Act private lawsuit statute of limitations
D7 years
Why 3 years Is Correct
Answer B: 3 years
NC license law requires brokers to maintain trust account records (and other transaction records) for a minimum of 3 years.
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State-Specific Concepts
Trust Account RulesLicense Law
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