Practice and Disclosures, 25% of the examination
Record retention
The broker's duty to keep specified transaction, listing, trust-fund, and related records for at least three years.
The three-year period generally runs from closing, or from the listing date when the transaction does not close. DRE may inspect covered records. Good files also preserve later changes, disclosures, communications, and evidence of supervision so the transaction can be reconstructed.
Test the distinction
A relevant question from Practice and Disclosures, selected because its facts or explanation use this concept.
For how long must a broker retain listings, deposit receipts, canceled checks and trust records?
Written to DRE's published topic list. Not a real examination question, since reproducing those is a misdemeanor under B&P Code section 123.
Primary sources
Use these authorities when a course summary, forum answer, or older flashcard conflicts with the current California rule.