North Dakota License Law
A North Dakota broker must maintain a broker trust account. Which of the following is a requirement for that account?
AIt must earn the highest available interest rate
BIt must be maintained at a federally insured depository institution✓ Correct
CIt must be co-signed by the NDREC
DIt must hold at least $10,000 at all times
Explanation
North Dakota requires broker trust accounts to be maintained at federally insured depository institutions (banks or credit unions). This protects client funds in case of bank failure.
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