Florida Broker Practice Exam

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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.

When must a sales associate deliver the escrow deposit to the broker?

The end of the current day
Before the close of business
Within three business days
The end of the next business day

The correct answer is: The end of the next business day

The requirement for a sales associate to deliver the escrow deposit to the broker is set at the end of the next business day after the deposit is received. This timeline ensures that the funds are handled promptly and are secure, adhering to best practices in real estate transactions. This rule helps maintain the integrity of the transaction process, providing clarity and protection for all parties involved. Timely delivery of these deposits is also crucial for compliance with state regulations, helping to prevent potential disputes or issues related to escrow funds. Understanding this timeline is important for sales associates, as it reinforces their responsibility in managing client funds safeguarding their fiduciary duty.