California licensing laws define- Real Estate Brokerage, Handling Trust Funds, and Managing Escrow Accounts. Thus, the correct answer is option D.
Escrow is a legal arrangement in which a third party accepts and disburses funds or property on behalf of the principal parties to a transaction, with the disbursement subject to terms established by those parties.
A trust fund is a mechanism for estate planning that enables one to set money and/or other assets aside for distribution to the trust's beneficiaries in the future. They are created with the guidance of an estate planning lawyer to hold assets for another person.
The licensing laws for real estate in California include a real estate brokers who needs to be paid brokerage, have to handle trust funds and manage escrow accounts.
Therefore, all the options define California licensing laws.
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