California Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

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.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

In the event a transaction does not close, a broker must retain the records for how long?

One year from listing
Two years from listing
Three years from listing
Five years from listing

The correct answer is: Three years from listing

Brokers must retain records for a period of three years from the date of the listing. Options A and B are incorrect because they are shorter periods of time. Option D is incorrect because it is a longer period of time. Keeping records for longer than necessary can take up valuable storage space and create unnecessary clutter. Overall, three years is the industry standard for record retention in the event of a transaction not closing.