Florida Broker Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Florida Broker Exam. Study with interactive quizzes, flashcards, and multiple choice questions that include hints and explanations. Ace your exam and start your real estate career today!

Practice this question and more.

Under what condition will a broker not be held responsible for insufficient funds on a postdated check?

If the broker fails to deposit in a timely manner
If the broker has caused the check to be dishonored
If the check is not endorsed properly
If the broker deposits in a timely manner without culpable negligence

The correct answer is: If the broker deposits in a timely manner without culpable negligence

A broker will not be held responsible for insufficient funds on a postdated check if they deposit it in a timely manner without any culpable negligence. This condition assures that the broker acted appropriately and did not contribute to any potential dishonoring of the check due to delays or improper handling. Timely deposits help ensure that funds are accessed when available, and a lack of culpable negligence implies that there was no careless or reckless behavior in managing the transaction. It demonstrates that the broker fulfilled their responsibility, making it reasonable for them not to bear the consequences of insufficient funds. Thus, if the broker adheres to these standards, they maintain a level of protection against liability in the event a postdated check bounces.