For the Hawaii salesperson state portion, a brokerage keeps client money with operating funds. Which statement is correct?
Correct Answer
B) The broker must not commingle client funds with other money except for the narrow allowed trust-account exceptions
HAR 16-99-4 prohibits commingling client funds with other money, subject to narrow exceptions such as a minimum amount to keep the account open. Source basis: Hawaii DCCA PSI state outline hi.III Property Management plus official HRS chapter 521 and HAR title 16 chapter 99 trust-property rules; checked 2026-04-30.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
In real estate, the distinction between an independent contractor and an employee determines tax treatment, liability, and the level of control a broker may exercise over the agent's daily activities. Most real estate agents operate as independent contractors.
Florida real estate licenses must be renewed biennially, and sales associates have specific post-license education requirements for their first renewal.
License requirements are the mandatory qualifications—including pre-licensing education, examination, and background checks—that a person must satisfy before legally practicing real estate. These requirements are established and enforced by each state's real estate commission.
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