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Practice Of Real EstateLicense LawMEDIUM

A training instructor in Carrboro is updating the policy manual on disciplinary process, sanctions, and reporting duties. Which statement best applies under current North Carolina law?

Correct Answer

D) Commingling, conversion, and other trust money violations are among the serious grounds for discipline under North Carolina law and rules.

Commingling, conversion, and other trust money violations are among the serious grounds for discipline under North Carolina law and rules.

Answer Options
A
A bookkeeper's mistake automatically excuses the BIC from trust account responsibility.
B
Using trust money temporarily for office expenses is permitted if repaid before closing.
C
Trust account shortages are civil issues only and never licensing matters.
D
Commingling, conversion, and other trust money violations are among the serious grounds for discipline under North Carolina law and rules.

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Related Topics & Key Terms

Key Terms:

comminglingconversioncore_rules_and_definitionsdifficulty_3disciplinary_process_sanctions_and_reportingnc_license_lawnc_statenorth_carolinatrust_money
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