Arizona Real Estate Salesperson Exam — All Questions

An Arizona salesperson receives an earnest money check from a buyer. The salesperson must:

• a.Deposit it into a personal checking account for safekeeping
• b.Hold it until after closing to avoid bank fees
• c.Cash it and give the seller the funds directly
• d.Promptly deliver it to the employing broker for handling per the contract✓

A salesperson must promptly turn earnest money over to the employing broker, who deposits it into the broker's trust (escrow) account or handles it as the contract directs. Commingling client funds with personal accounts is a serious violation, and the salesperson may not personally decide to cash or hold the funds.