BROKERAGE OPERATIONS AND ETHICS
STUDY GUIDE 2026
◉ What happens to the interest accrued by brokers' trust accounts?
Answer: 75% goes to housing trust fund and 25% goes to real estate
education fund
◉ How long does a managing broker have to keep records of any
real estate transaction?
Answer: 3 years following the submission of records to the firm
◉ Within what time frame does the commission need to be notified
of a broker's move to a different firm?
Answer: 30 days, in writing
◉ True or false: the commission budget is part of the state budget
Answer: False
◉ What's the maximum fine the commission may impose for a
violation ?
Answer: $1,000