California Real Estate Practice Exam

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How long does a broker have to place a buyer's deposit check into an escrow account after an offer's acceptance?

One business day
Two business days
Three business days
Five business days

The correct answer is: Three business days

After an offer has been accepted, a broker has three business days to place the buyer's deposit check into an escrow account. Option A and B are incorrect because they provide a shorter amount of time than the correct answer. Option D is incorrect because it provides a longer amount of time, which could potentially delay the closing process.