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The Broker of a Real Estate Office Wanted to Deposit

Question 11

Multiple Choice

The broker of a real estate office wanted to deposit funds from a recently opened transaction. He had his trust account, business account, and personal account all at the same bank. Inadvertently, he made out the deposit slip to deposit the client's funds into his personal account.


A) This was an innocent mistake. He can just redeposit the money into his trust account before the close of escrow.
B) The broker should call and immediately transfer the funds into his trust account.
C) The broker doesn't have to worry unless the DRE audits his account.
D) the broker is guilty of commingling funds.

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