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Pass Georgia

Georgia-specific term

Trust account

The designated account in which a Georgia broker holds money belonging to others, such as earnest money, separate from brokerage operating funds.

How the exam uses trust account

Mixing trust funds with operating funds is commingling and is a disciplinary matter regardless of intent or of whether anyone lost money.

This is one of the terms Georgia handles differently from most states. If you prepared with a national question bank, check what it taught you here, because that is exactly where the state supplement takes marks back. The full list of Georgia differences.

What a question on this looks like

Under BRRETA, a customer is owed:

Answer: Honesty and disclosure of material facts A customer has no brokerage engagement, so they receive honesty and material-fact disclosure. Loyalty, confidentiality and obedience belong to clients.

Drill this in context at practice by topic, or browse the full glossary.