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 should a sales person do with a deposit check received as part of an offer on a house?

  1. Deposit it into their personal account

  2. Return it to the buyer

  3. Give the check to their broker immediately

  4. Hold onto it until the sale is finalized

The correct answer is: Give the check to their broker immediately

A Depositing the check into a personal account could be seen as unethical and potentially cause issues with accounting and taxes. B: Returning the check to the buyer without consulting the broker could result in the loss of the sale and damage the buyer-seller relationship. D: Holding onto the check until the sale is finalized could also be seen as unethical and potentially cause issues with accounting and taxes. It is best practice to consult with the broker and follow their instructions for handling the deposit check.

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