Real Estate Math
A South Carolina broker holds $125,000 in client trust funds. The broker's own funds in the account total $500 (allowed minimum for bank charges). What is the maximum allowed balance in personal funds?
A$0
B$500✓ Correct
C$1,000
D$5,000
Explanation
SC regulations allow brokers to maintain a small amount of personal funds in the trust account (typically up to $500 or a similarly minimal amount to cover bank charges). Any excess personal funds constitute commingling.
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