FREC requires brokers to reconcile escrow accounts:
Correct Answer
B) Monthly
FREC requires monthly reconciliation of escrow accounts to ensure proper handling of trust funds.
Why This Is the Correct Answer
Related Concepts
Brokers in Florida have strict responsibilities for managing escrow accounts, including monthly reconciliation and proper handling of trust funds.
FREC has the authority to impose fines and other disciplinary actions on licensees who violate real estate laws and rules.
Commingling is the illegal act of mixing client trust funds with a broker's personal or business operating funds; conversion is the misappropriation of those funds.
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