What is the minimum amount a broker must maintain in an escrow account to keep it active when no transactions are pending?

Correct Answer

D) $50

Correct: D - $50. Florida law allows brokers to maintain a minimum balance of $50 in escrow accounts to keep them active when no client funds are being held. This prevents account closure fees and maintains the account for future transactions. Why not A: This option is incorrect because "$1,000" does not match the rule tested by the question. The correct answer is "$50". Florida law allows brokers to maintain a minimum balance of $50 in escrow accounts to keep them active when no client funds are being held. This prevents account closure fees and maintains the account for future transactions. Why not B: This option is incorrect because "No minimum required" does not match the rule tested by the question. The correct answer is "$50". Florida law allows brokers to maintain a minimum balance of $50 in escrow accounts to keep them active when no client funds are being held. This prevents account closure fees and maintains the account for future transactions. Why not C: This option is incorrect because "$500" does not match the rule tested by the question. The correct answer is "$50". Florida law allows brokers to maintain a minimum balance of $50 in escrow accounts to keep them active when no client funds are being held. This prevents account closure fees and maintains the account for future transactions.