If a Broker Is a Little Short of Funds and "Borrows

question 9

Multiple Choice

If a broker is a little short of funds and "borrows" some money from his escrow account to pay monthly bills, this activity is called

• A) commingling and is illegal.
• B) conversion and is illegal.
• C) misrepresentation and may be illegal.
• D) shrewd business and is legal.

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Definitions:

Critical-Thinking

The process of objectively analyzing and evaluating an issue in order to form a judgment.

Clustering Related

Grouping together items, data, or information based on shared qualities or characteristics to analyze patterns or relationships.

Identifying Gaps

The process of discovering missing elements, discrepancies, or areas for improvement within a given context.

Chronic Medical Problems

Long-standing, persistent health issues that affect a person's lifestyle and may require ongoing management.