Massachusetts License Law
A Massachusetts broker engages in 'commingling' of trust funds. The most serious consequence could be:
AA written reprimand from the Board
BLicense revocation and criminal charges for conversion or fraud✓ Correct
CA mandatory CE requirement
DA fine up to $500
Explanation
Commingling is a serious violation. Combined with misuse of client funds (conversion), it can lead to license revocation and criminal prosecution for theft, fraud, or conversion under Massachusetts law.
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Key Terms to Know
State-Specific Concepts
Continuing EducationTrust Account Rules
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