A firm owner in Apex is answering a client question about trust money receipt, deposit timing, and exceptions. Which statement best applies under current North Carolina law?
Correct Answer
A) A broker should not commingle trust money with operating funds except for the limited amount of broker funds permitted to cover bank service charges.
A broker should not commingle trust money with operating funds except for the limited amount of broker funds permitted to cover bank service charges.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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Florida real estate licenses must be renewed biennially, and sales associates have specific post-license education requirements for their first renewal.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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