Real Estate Escrow Account Rules Quiz

Brokers may deposit personal or business funds in an escrow account to cover service charges assessed to the account or to maintain a minimum balance as required by the bank. (correct)

Never—commingling personal or business funds with escrow funds is prohibited.

Brokers may deposit such funds if the broker maintains one account that serves as both the personal or business account and an escrow account simultaneously.

Brokers may make such a deposit only if it appears they will not be able to deposit the funds in the personal or business account by close of business the next business day.

Brokers may deposit personal or business funds in an escrow account to cover service charges assessed to the account or to maintain a minimum balance as required by the bank. (correct)

Brokers may deposit such funds if the broker maintains one account that serves as both the personal or business account and an escrow account simultaneously.

Brokers may make such a deposit only if it appears they will not be able to deposit the funds in the personal or business account by close of business the next business day.

None of the above

Never—commingling personal or business funds with escrow funds is prohibited.

Only if they are unable to maintain a minimum balance as required by the bank.

Only if it appears they will not be able to deposit the funds in the personal or business account by close of business the next business day. (correct)

Only if the broker maintains one account that serves as both the personal or business account and an escrow account simultaneously.

<p>To protect clients' and third parties' funds from being used inappropriately. (D)</p> Signup and view all the answers