Arkansas Real Estate Practice Exam

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How much can a broker maintain in an account to cover bank service charges?

  1. The equivalent of twelve months' service charges

  2. The total of six months' service charges

  3. A variable amount decided by the broker

  4. No limit as long as it is reasonable

The correct answer is: The total of six months' service charges

A This option suggests that a broker can maintain the equivalent of twelve months' worth of service charges in an account, but this may be excessive and not necessary. C: This option suggests that a variable amount decided by the broker can be maintained in the account, but this could lead to inconsistent and potentially inadequate coverage for bank service charges. D: This option implies that there is no limit to how much a broker can maintain in the account as long as it is considered reasonable. However, this could lead to excessive amounts being kept in the account and potentially causing financial strain for the broker.

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