Ohio License Law
What does 'earnest money commingling' mean and why is it prohibited?
AEarning interest on client funds
BMixing client escrow funds with the broker's personal or operating funds, which is prohibited to protect client money✓ Correct
CCombining funds from multiple transactions
DA standard banking practice for escrow accounts
Explanation
Commingling is the mixing of client trust funds with the broker's personal or operating funds. It is strictly prohibited in Ohio because it puts client funds at risk and makes accounting impossible.
Related Ohio Ohio License Law Questions
- Under Ohio license law, when a real estate broker retires or becomes incapacitated, salespersons affiliated with the broker:
- An Ohio broker must supervise affiliated salespersons by:
- How many hours of continuing education must an Ohio real estate salesperson complete each two-year renewal cycle?
- Under Ohio license law, all of the following activities are prohibited EXCEPT:
- What is the role of the Ohio Association of Realtors (OAR)?
- Under Ohio law, 'earnest money' in a transaction must be placed in the broker's trust account:
- Which state agency regulates real estate licenses in Ohio?
- Under ORC 4735, what is the minimum continuing education requirement for Ohio real estate salespersons to renew their license?
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →