Arkansas Real Estate Practice Exam

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For how long must copies of trust account reconciliations be kept by the broker?

  1. One year

  2. Two years

  3. Three years or as required by law, whichever is greater

  4. Five years

The correct answer is: Three years or as required by law, whichever is greater

Trust account reconciliations must be kept for at least three years or as required by law, whichever is greater. This is to ensure that there is a record of the account activity and that trust funds are being handled properly. Options A, B, and D do not meet the minimum requirement of three years. Option C is the best choice because it covers both the minimum time requirement and the possibility of any longer legal requirements.

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