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Practice Of Real EstateLicense LawHARD

A training instructor in Concord is reviewing disciplinary process, sanctions, and reporting duties. Which statement is NOT accurate under current North Carolina law?

Correct Answer

C) A bookkeeper's mistake automatically excuses the BIC from trust account responsibility.

This choice is the inaccurate statement. The other three options describe the current North Carolina rule or guidance more accurately.

Answer Options
A
Failing to respond to Commission inquiries or requests for records can itself create disciplinary problems.
B
The Commission may discipline a broker on its own initiative or on complaint for conduct listed in G.S. 93A-6.
C
A bookkeeper's mistake automatically excuses the BIC from trust account responsibility.
D
Possible sanctions include reprimand, censure, suspension, or revocation, depending on the violation and disposition.

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Related Topics & Key Terms

Key Terms:

comminglingcore_rules_and_definitionsdifficulty_4disciplinary_process_sanctions_and_reportingnc_license_lawnc_statenorth_carolinarecords_requestresponsereversesanctions
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