California Real Estate Practice Exam

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Study for the California Real Estate Exam with confidence. Engage with interactive questions designed to enhance your understanding of real estate principles, laws, and practices. Prepare thoroughly for your licensing test and ensure you have the knowledge to succeed in your real estate career!

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What is the maximum amount victims can collect from the Recovery Account if a broker has defrauded them?

$50,000
$100,000
$150,000
$200,000

The correct answer is: $100,000

The maximum amount that victims of a broker who has defrauded them can collect from the Recovery Account is $100,000. This is determined by the state in which the fraud took place and the particulars of each case. Options A, C, and D are incorrect because they either exceed the maximum amount that can be collected or are not within the range of options. The $100,000 limit is typically set to ensure that victims are not completely left without any compensation, but it may not be enough to cover all losses incurred.