An Agency Disclosure Statement is required to document who represents whom.
Before you read
Test yourself first: 5 questions
Question 1 of 5
An Ohio salesperson deposits an earnest money check into her personal checking account instead of the brokerage trust account. This conduct is best described as:
Answer: B. Placing client or third-party funds (like earnest money) into a personal or operating account mixes them with personal funds (commingling) and using them is conversion. Ohio license law requires such funds be held in a separate trust/escrow account, and violations are grounds for discipline.
Question 2 of 5
Where can earnest money deposits be held in an Ohio transaction, and who is responsible for safeguarding them?
Answer: B. Under Ohio license law, earnest money and other trust funds must be deposited into and held in the broker's trust/escrow account, separate from the broker's own funds. The broker is accountable for safeguarding, accurately accounting for, and promptly depositing these funds; commingling is prohibited.
Question 3 of 5
Which licensee is responsible for maintaining and supervising the brokerage's trust account in Ohio?
Answer: B. The principal (managing) broker is responsible for the proper handling and supervision of the brokerage's trust/escrow account in Ohio.
Question 4 of 5
Where must an Ohio licensee deposit earnest money and other trust funds received in a transaction?
Answer: B. Trust funds such as earnest money must be deposited into the broker's trust/special account and kept separate from the broker's own funds; commingling is prohibited.
Question 5 of 5
How must an Ohio brokerage handle earnest money and other funds belonging to clients or others?
Answer: B. Ohio brokers must deposit funds belonging to others (such as earnest money) into a separate trust or special account. Commingling client funds with the broker's own funds is prohibited.
Keep the streak going with more questions like these, each with a full rationale.
Must-know rules
- Sellers of most residential property must provide a Residential Property Disclosure Form covering known conditions.
- An Agency Disclosure Statement is required to document who represents whom.
- Federal lead-based paint disclosure applies to homes built before 1978.
- Earnest money and client funds must be held in the broker's trust/escrow account, separate from the broker's own money.
- Commingling client trust funds with personal or operating funds is prohibited.
- Pre-license education total: 120 college-level hours across the four required courses.
- Ohio is a non-community-property state; do not assume automatic spousal co-ownership.
Ohio Disclosures, Escrow/Trust Funds & Key Numbers Cheat Sheet: FAQs
Is Ohio Disclosures, Escrow/Trust Funds & Key Numbers Cheat Sheet on the real estate exam?
Yes. State License Law is a scored domain on the Ohio real estate licensing exam, and this topic appears in the state license-law portion.
Is this cheat sheet free?
Yes — every page on Cinna RE's resource library is free to read, print and share. The app adds practice questions, mock exams and a readiness score.
Does Ohio test this differently?
Ohio applies its own license law on top of the national portion. This page covers the Ohio rules specifically, which is what the state section of your exam tests.
