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Real Estate Salesperson Exam — National Portion

Trust money (ID): practice questions

Our Real Estate (National) bank has 4 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Idaho

What must an Idaho sales associate do with earnest money received?

  1. Hold it until closing
  2. Give it to the broker
  3. Deposit it in their own account
  4. Give it to the seller
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B. Give it to the broker — Idaho Code 54-2045(4).

Question 2 · Idaho

When both parties demand the same Idaho earnest money, what must the broker do first?

  1. Pay the buyer
  2. Notify both in writing
  3. Pay the seller
  4. Keep it as a fee
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B. Notify both in writing — Idaho Code 54-2047(1).

Question 3 · Idaho

By when must an Idaho broker deposit money received for others?

  1. Same day
  2. Next banking day
  3. Within 3 days
  4. Within 10 days
Show the answer

B. Next banking day — Idaho Code 54-2045(1), unless the parties instruct otherwise in writing.

Question 4 · Idaho

If an Idaho broker can't reasonably decide a disputed deposit, what may they do?

  1. Keep it
  2. Await a court order
  3. Split it equally between the parties
  4. Give it to charity
Show the answer

B. Await a court order — Idaho Code 54-2047(3), with written notice to the parties.

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