Tennessee Real Estate License Exam Practice Question
All of the following information regarding escrow accounts must be maintained for at least 3 years EXCEPT the
Correct Answer: D
Rationale: Escrow accounts require specific information to be maintained for regulatory compliance. The depositor's identity (A), the amount of deposit (B), and the amount of withdrawal (C) are all essential details that must be tracked for at least three years to ensure transparency and accountability. In contrast, bank administrative fees (D) do not need to be retained for this duration, as they are not directly tied to the transaction details of the escrow account itself. Thus, option D is the only information not required to be kept for three years.
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