California Real Estate Practice Exam

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What is the minimum surety bond requirement for an escrow agent?

$15,000
$25,000
$20,000
$30,000

The correct answer is: $25,000

The minimum surety bond requirement for an escrow agent is $25,000. This amount is determined by state regulations and can vary depending on the state where the escrow agent is operating. Option A ($15,000) and Option C ($20,000) are both lower than the correct answer, so they do not meet the minimum requirement. Option D ($30,000) is higher than the minimum requirement, so it is not the correct answer either. It is important for an escrow agent to have a surety bond in place to protect the funds and assets they are handling for their clients. Choosing a bond amount that meets or exceeds the minimum requirement can provide added security and peace of mind for both the agent and their clients.