# Real Estate Exam [California] 40, Advanced Fees and Prepaid Rental Listing Services

Page: https://stenobird.com/podcast/real-estate-exam-prep-7644240/real-estate-exam-california-40-advanced-fees-and-prepaid-rental-listing-services
Text version: https://stenobird.com/podcast/real-estate-exam-prep-7644240/real-estate-exam-california-40-advanced-fees-and-prepaid-rental-listing-services.md
Podcast: [Real Estate Exam Prep](https://stenobird.com/podcast/real-estate-exam-prep-7644240)
Published: 2026-07-14T00:21:14+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/236c61f0-3849-4dc5-82b0-5f28bb7c0dad.mp3
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Duration seconds: 190

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - An advance fee agreement must be approved by the California DRE before a broker can collect any funds. - All advance fees must be deposited into a broker's trust account and remain the property of the principal until earned. - A Prepaid Rental Listing Service (PRLS) license is required to sell rental lists to tenants for an upfront fee and is valid for two years. - Real estate brokers can conduct PRLS activities without a separate license but must use a DRE-approved contract. - The core reason for strict regulation of advance fees is to protect consumers from potential fraud. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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