California Real Estate Practice Exam

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Who licenses escrow agents?

Department of Corporations
Department of Real Estate
Internal Revenue Service
State Banking Commission

The correct answer is: Department of Corporations

The Department of Corporations licenses escrow agents. This is because escrow agents are primarily responsible for handling financial transactions related to real estate and other types of transactions that are regulated by the Department of Corporations. The Department of Real Estate may also have some regulatory authority over escrow agents, but the primary licensing authority lies with the Department of Corporations. The Internal Revenue Service and State Banking Commission do not have direct jurisdiction over escrow agents and are therefore not responsible for licensing them.