Arkansas Real Estate Practice Exam 2025 – Comprehensive All-in-One Guide for Exam Success

Question: 1 / 400

Under what condition may a broker maintain a specific minimum balance in an account in their own name?

If the bank requires a service charge for the account

If the bank designates a specific minimum balance to keep the account open

Brokers may maintain a specific minimum balance in an account in their own name if the bank designates it as a requirement to keep the account open. Option A is incorrect because a bank service charge is a separate fee and may not necessarily be related to a specific minimum balance requirement. Option C is also incorrect because annual fees are separate from a minimum balance requirement. Option D is incorrect because there is a specific condition (bank designation) under which a broker may maintain a minimum balance.

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To cover annual fees

None of the above

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