New Jersey License Law
A NJ broker who deposits all escrow funds into their operating account 'just to keep things simple' is:
APermissible if they maintain detailed records
BCommitting commingling, a serious violation of NJ license law✓ Correct
CAcceptable for deposits under $1,000
DRequired by NJ tax law
Explanation
Commingling—mixing client trust funds with the broker's business or personal funds—is strictly prohibited by NJ license law. Client funds must always be kept in a separate, designated escrow account.
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