The Agency Disclosure Statement must be provided to disclose agency relationships.
Before you read
Test yourself first: 5 questions
Question 1 of 5
Which record-keeping practice is required of an Ohio broker regarding trust/special account funds?
Answer: B. Ohio brokers must keep complete and accurate records of all trust-account deposits and disbursements. These records must be retained for the period required by law and made available to the Ohio Division of Real Estate upon request or audit.
Question 2 of 5
Which of the following is permitted in an Ohio brokerage trust/special account without it being considered commingling?
Answer: B. Ohio allows a broker to deposit a minimal amount of the broker's own money strictly to cover bank service fees or to keep the account open at a required minimum balance. Beyond that limited exception, mixing personal/business funds with trust funds is prohibited commingling.
Question 3 of 5
An Ohio licensee receives an earnest money deposit on Friday afternoon. What is the licensee's obligation regarding that deposit?
Answer: B. A salesperson must turn earnest money over to their broker promptly so it can be deposited into the brokerage trust/special account as required by Ohio law. Salespersons may not hold or commingle client funds.
Question 4 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 5 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.
Keep the streak going with more questions like these, each with a full rationale.
Must-know rules
- Sellers of residential property generally must provide a Residential Property Disclosure Form.
- The Agency Disclosure Statement must be provided to disclose agency relationships.
- Federal lead-based-paint disclosure applies to most homes built before 1978.
- Ohio is NOT a community-property state; marital property is handled under other Ohio law.
- Brokers must deposit earned/held funds, such as earnest money, into a trust or special (escrow) account.
- Trust/escrow funds must be kept separate from the broker's personal or operating funds (no commingling).
- Maintain accurate records of all trust-account deposits and disbursements for the period required by the Division.
Ohio Required Disclosures & Escrow/Trust Quick Sheet: FAQs
Is Ohio Required Disclosures & Escrow/Trust Quick 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.
