Florida Real Estate Practice Exam

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Prepare for your Florida Real Estate Exam with a comprehensive quiz featuring multiple-choice questions, hints, and detailed explanations. Gain the confidence you need to succeed in obtaining your real estate license!

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How can landlords and property managers avoid commingling funds?

Ask another real estate professional to hold onto the funds.
Deposit all funds received into a business account.
Deposit all funds received into their own, separate accounts.
Hold the funds in a safety deposit box.

The correct answer is: Deposit all funds received into their own, separate accounts.

Landlords and property managers can avoid commingling funds by depositing all funds received into their own, separate accounts. This option ensures that personal and business funds are kept separate, preventing any potential issues with mixing or misuse of funds. Option A may not always be practical or feasible, and option D does not provide easy access for managing funds. Option B may seem like a good solution, but using a business account does not necessarily prevent mixing of personal and business funds, especially if the landlord or property manager is the sole account holder. Therefore, the best option is C to ensure proper handling of funds.