Alaska License LawIntermediateAlaska Exam
Under Alaska law, trust account funds belonging to clients must be kept:
AIn an interest-bearing account for the broker's benefit, in general
BSeparate from the broker's personal and business operating fundsCorrect
CIn cash in a secure office safe
DIn any account as long as records are maintained
Why Separate from the broker's personal and business operating funds Is Correct
Answer B: Separate from the broker's personal and business operating funds
Alaska law requires that all client funds held in trust be maintained in a separate trust account, completely apart from the broker's personal or business funds. This prevents commingling and protects client funds.
Key Alaska License Law Terms in This Question
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Key Terms to Know
State-Specific Concepts
Trust Account Rules
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