Prep475
Home › Practice questions › Escrow and Brokerage Relationships
Florida Real Estate Exam Practice Questions: Escrow and Brokerage Relationships
4 practice questions on escrow and brokerage relationships for the Florida real estate sales associate exam. Each one has the correct answer, a full explanation of why the other options are wrong, and the statute it comes from.
What this topic covers
Deposits, disputes, and disclosures. Questions here test single agent, transaction broker, and no-brokerage-relationship rules, plus escrow deposits and disputes.
Sources these questions cite include: § 475.25, Fla. Stat.; § 475.278, Fla. Stat.; § 475.2755, Fla. Stat..
Question 1
A $20,000 deposit is due under a sales contract on Monday, March 2, 2026, and is to be held by ABC Title Company, which the buyer's licensee selected. The seller's agent did not nominate ABC Title in writing. No legal holidays fall in March. By what date must the buyer's licensee's broker make written request to ABC Title for verification of the deposit?
- A. Thursday, March 5
- B. Friday, March 13
- C. Monday, March 16
- D. Monday, March 30
Show the answer and explanation
Correct answer: C.
When a deposit is placed with a title company or attorney, the licensee who prepared or presented the contract must indicate the entity's name, address, and telephone number on the contract. Within ten business days after each deposit is due under the contract, that licensee's broker must request written verification of receipt, unless the deposit is held by a title company or attorney nominated in writing by the seller or the seller's agent (Rule 61J2-14.008(2)(b)). Ten business days after Monday, March 2: March 3 through 6 (4), March 9 through 13 (9), Monday, March 16 (10). A uses three business days, which is the broker's own deposit deadline. B stops at nine business days. D uses twenty business days. If the seller's side had nominated ABC Title in writing, no verification request would be required.
Source: Rule 61J2-14.008(2)(b), F.A.C.
Question 2
Which of the following transactions REQUIRES the licensee to give the written brokerage relationship disclosure?
- A. A licensee, acting as a certified appraiser, appraises a fourplex for a lender.
- B. A licensee answers a caller's general factual questions about an advertised townhome without eliciting confidential information.
- C. A licensee arranges a twelve-month lease of one duplex unit that includes an option to purchase the duplex.
- D. A licensee conducts a public auction of a residential lot.
Show the answer and explanation
Correct answer: C.
The disclosure requirements apply to residential sales of four or fewer units and to leases that include an option to buy such property (§ 475.278(5)(a)-(b)). A lease with an option to purchase the duplex is therefore covered. A is wrong because appraisals are exempt. B is wrong because answers to general factual questions about advertised property are exempt. D is wrong because auctions are exempt. A plain lease or rental without an option to buy is also exempt.
Source: § 475.278(5)(a)-(b), Fla. Stat.
Question 3
Broker Alma Cruz holds a $25,000 deposit. The buyer demands its return by letter received on Wednesday, April 1, 2026. The seller's conflicting written demand arrives on Monday, April 6, 2026, which is the last demand. Cruz cannot determine who is entitled to the funds. Counting only business days, with no legal holidays between April 6 and May 18, by what dates must she notify the Commission in writing and institute a settlement procedure?
- A. Notice by April 21 and a settlement procedure by May 6.
- B. Notice by Monday, April 27 and a settlement procedure by Monday, May 18.
- C. Notice by Monday, April 27 and a settlement procedure by Wednesday, May 6.
- D. Notice by Monday, May 18 and a settlement procedure by Monday, April 27.
Show the answer and explanation
Correct answer: B.
The broker must give the Commission written notice within 15 business days of the last party's demand and must institute a settlement procedure within 30 business days of the last demand (Rule 61J2-10.032(1)(a); § 475.25(1)(d)1.). Counting from the last demand on Monday, April 6: fifteen business days ends on Monday, April 27; thirty business days ends on Monday, May 18. Both periods run from the LAST demand, not the first. A converts the periods to calendar days. C pairs the correct notice date with a calendar-day settlement deadline. D reverses the two deadlines.
Source: § 475.25(1)(d)1., Fla. Stat.; Rule 61J2-10.032(1)(a), F.A.C.
Question 4
On Tuesday, March 3, 2026, a buyer delivers a $15,000 earnest money check to Broker Hines along with a fully executed contract. The contract states that the deposit is due 'within 3 days after the effective date,' which makes the contractual due date Friday, March 6. Hines keeps the check in the office safe and deposits it into the escrow account on Monday, March 9. No legal holidays fall in this period. Which statement is correct?
- A. Hines violated the deposit rule, because the three-business-day period ran from his receipt of the check on March 3 and ended on Friday, March 6.
- B. Hines complied, because the three-business-day period did not begin until the contractual due date of March 6.
- C. Hines complied, because the period is measured from the effective date and a Monday deposit is within three calendar days of the weekend.
- D. Hines violated the rule only if the buyer's bank returned the check unpaid.
Show the answer and explanation
Correct answer: A.
'Immediately' means placement in escrow no later than the end of the third business day following receipt of the item to be deposited (Rule 61J2-14.008(3)). The clock runs from Hines's receipt of the check, not from the contract's due date. From Tuesday, March 3: Wednesday, March 4 (day 1), Thursday, March 5 (day 2), Friday, March 6 (day 3). A Monday, March 9 deposit is late. B and C measure from the wrong event. D is wrong because the violation depends on timing, not on whether the check later clears; Rule 61J2-14.008(1)(b) separately addresses a broker's responsibility for a check that is dishonored.
Source: Rule 61J2-14.008(3), F.A.C.; § 475.25(1)(k), Fla. Stat.
Want more on this topic?
The full Prep475 kit has 15 questions on escrow and brokerage relationships, all with the same statute-cited explanations, plus a timed 100-question exam simulation.
Independent study aid, not legal advice. Not affiliated with or endorsed by the Florida Real Estate Commission, the DBPR, or Pearson VUE. Questions are original practice questions, not actual exam questions. Statutes, rules, and exam details change; always confirm against current Florida law and your pre-licensing course materials.
Last reviewed October 20, 2026.