Florida Broker Practice Exam

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What is the maximum amount a broker can place in a property management escrow account as personal or brokerage funds?

  1. Up to $1,000

  2. Up to $2,500

  3. Up to $5,000

  4. Up to $10,000

The correct answer is: Up to $5,000

In Florida, when a broker operates a property management escrow account, they are allowed to deposit personal or brokerage funds into that account to maintain its operations. The maximum amount permitted for these types of funds is $5,000. This limit is in place to ensure that tenant funds remain protected and that the accounts are used primarily for managing client funds, not for the broker's personal or business expenses. The requirement helps uphold the integrity of the escrow process and protects tenants' and clients' interests by ensuring that escrow funds are distinctly handled and not intermixed with personal or brokerage funds in larger amounts.

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