During a routine SREC audit of a Pennsylvania broker's escrow account, the auditor finds that client ledgers are accurate, all funds are fully accounted for, and monthly reconciliations are current. The broker deposited one client's earnest money one business day after receipt rather than the same day. Which of the following best describes the audit outcome?
Correct Answer
A) The audit is closed with no findings because next-business-day deposit satisfies RELA requirements
Under 49 Pa. Code §35.326, a broker must deposit escrow funds by the end of the next business day following receipt. Depositing one business day after receipt is fully compliant with this requirement. Because the ledgers are accurate, funds are accounted for, and reconciliations are current, the audit reveals no violations and is closed with no further action.
Why This Is the Correct Answer
Why the Other Options Are Wrong
Deep Analysis of This Pa Rela Brokerage Rules Question
Background Knowledge for Pa Rela Brokerage Rules
Real World Application in Pa Rela Brokerage Rules
Common Mistakes to Avoid on Pa Rela Brokerage Rules Questions
Related Topics & Key Terms
Key Terms:
More Pa Rela Brokerage Rules Questions
Under RELA, a Pennsylvania brokerage must ensure that all licensees affiliated with the brokerage have completed what requirement before practicing real estate?
Under RELA, a Pennsylvania broker of record has a duty to ensure that all affiliated licensees maintain current and active licenses. If the broker discovers that a salesperson's license has expired, what must the broker do?
Under RELA, a Pennsylvania brokerage receives a written complaint from a consumer about one of its salespersons. The broker of record must take what immediate action?
Under RELA, where must a Pennsylvania brokerage display its current real estate license?
Under RELA, a Pennsylvania brokerage employs both salespersons and associate brokers. What is the key difference between a salesperson and an associate broker under RELA?
- → Under RELA, when a Pennsylvania salesperson places their license with a new brokerage, the salesperson is said to be operating under the authority of which individual?
- → Under RELA, a Pennsylvania salesperson, Jake, earns a commission from a closed transaction. How should the commission be paid?
- → Under RELA, a Pennsylvania broker of record must maintain written office policies. Which of the following topics should these policies address?
- → Under RELA, a Pennsylvania broker of record, Sarah, is retiring and wants to close her brokerage. What steps must Sarah take regarding her affiliated salespersons?
- → Under RELA, when a Pennsylvania salesperson terminates their affiliation with a brokerage, what happens to the salesperson's license?
- → Under RELA, a Pennsylvania broker of record, Steve, wants to change the brokerage's physical office location. What must Steve do under RELA?
- → Under RELA, a Pennsylvania salesperson must operate under the supervision of which type of licensee?
- → Under RELA, a Pennsylvania brokerage is required to maintain a physical office location. Which of the following is a requirement for the brokerage office?
- → Under RELA, a Pennsylvania salesperson, Monica, wants to transfer from Brokerage A to Brokerage B. What is required for the transfer to be valid under RELA?
- → Under RELA, how long must a Pennsylvania brokerage retain transaction records?
People Also Study
Buyer Representation Agreement
8% of exam
Property Ownership
10% of exam
Land Use Controls and Regulations
8% of exam
Valuation and Market Analysis
10% of exam
Related Articles
Real Estate Exam Pass Rates by State: 2026 Data Report
Last updated: March 2026 | Sources: State licensing boards, ARELLO, Bureau of Labor Statistics
What to Do When Your Real Estate Exam Study Plan Looks Good on Paper but Keeps Slipping
If you are searching for real estate exam study plan keeps slipping , the practical answer is usually more useful than a motivational one. The biggest...
How to Prepare for the Real Estate Exam If You Learn Better by Writing Things Out
If you are searching for how to prepare for real estate exam by writing notes , the practical answer is usually more useful than a motivational one. The...
Previous Question
Under RELA, a Pennsylvania broker, Victor, manages 50 rental units and holds approximately $75,000 in security deposits in his escrow account. Under the Pennsylvania Landlord and Tenant Act, after how many years of a tenancy must a landlord (or the managing broker) place the security deposit in an interest-bearing escrow account?
Next Question
Under RELA, a Pennsylvania broker receives a buyer's earnest money check made payable to the brokerage. Into which account must the broker deposit this check?