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 minimum surety bond requirement for an escrow agent?

$15,000
$25,000
$20,000
$30,000

The correct answer is: $25,000

The minimum surety bond requirement for an escrow agent is $25,000. This amount is determined by state regulations and can vary depending on the state where the escrow agent is operating. Option A ($15,000) and Option C ($20,000) are both lower than the correct answer, so they do not meet the minimum requirement. Option D ($30,000) is higher than the minimum requirement, so it is not the correct answer either. It is important for an escrow agent to have a surety bond in place to protect the funds and assets they are handling for their clients. Choosing a bond amount that meets or exceeds the minimum requirement can provide added security and peace of mind for both the agent and their clients.