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Brokerage Activities ProceduresEscrow_trust_accountsMEDIUM

The difference between commingling and conversion:

Correct Answer

C) Commingling mixes client funds; conversion is unlawful misappropriation

Commingling is mixing client funds with personal funds; conversion is using client funds for personal use.

Answer Options
A
Conversion transfers property; commingling is unlawful transfer
B
Commingling transfers property; conversion is unlawful transfer
C
Commingling mixes client funds; conversion is unlawful misappropriation
D
Conversion mixes funds; commingling is unlawful misappropriation
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Related Topics & Key Terms

Related Topics:

fiduciary-dutiestrust-account-managementreal-ethics-violations

Key Terms:

comminglingconversionescrow accountFlorida Statute §475.25fiduciary duty
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