Reconciling the trust account means closing it and sending the funds back to the clients.
Correct Answer:
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Q1: IOLTA stands for
A)income on latest trial activity
B)interest
Q3: IOLTA first started in
A)England
B)Florida
C)Virginia
D)Washington,DC
E)California
Q4: Which of the following funds are deposited
Q5: A separate trust account may be opened
Q6: Whenever a check is written,it is documented
Q7: Before a check is deposited into a
Q8: Which of the following documents withdrawals of
Q9: Segregation of cash is
A)keeping clients' funds separate
Q10: The purpose of a trust account is
Q11: An individual client's trust account balance is
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