In Nebraska, mixing client trust funds with a broker's personal or business operating funds is known as commingling. This practice is considered:
Correct Answer
B) A serious violation subject to disciplinary action
Commingling — the mixing of client trust funds with a broker's personal or operating funds — is strictly prohibited in Nebraska regardless of the amount or any consent given. It is a serious violation of Nebraska real estate license law and constitutes grounds for license suspension or revocation by the NREC.
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Market allocation is an illegal antitrust practice in which competing real estate brokerages agree to divide markets among themselves by geographic area, property type, or price range, thereby eliminating competition.
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
More Practice Of Real Estate Questions
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