California Real Estate Practice Exam

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Master the California Real Estate Exam with our comprehensive practice quiz. Get expert tips, detailed content review, and insider strategies to pass on your first try.

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How long must records be kept when a broker is involved in arranging mortgage loans?

Two years
Three years
Four years
Five years

The correct answer is: Four years

When a report is issued by a broker about a mortgage loan, the records must be kept for a minimum of four years. This is because the broker is involved in a complex process that involves many people, documents, and transactions, and it is important to have a record of this information for a significant period of time. Options A, B, and D are incorrect because they do not meet the minimum requirement of four years. Option A only covers half of the required time, while options B and D exceed the minimum requirement by two and one year, respectively. Therefore, option C is the most accurate and suitable answer in this case.