Question

The broker has seven different escrow accounts because he wants to maintain good relationships with each of the different banks. These relationships will help the broker get financing for some of the builders with whom he works. The broker is a signatory on all the accounts and he maintains no more than $1000 of his own money in each account. He reconciles all of the accounts no more than 30 days from the last reconciliation. Can the broker have this many accounts

Answer 1

Yes, a  broker can have many accounts.

Who is a broker?

A broker can be defined as someone who deals in shares or someone who buy and sell shares to investors.

A broker can do the following:

• A broker can  have one escrow account
• A broker can maintain  or be  in charge of many escrow accounts.
• A broker must  tend to reconcile the account or  carryout reconciliation on the account no higher than 30 days from the last reconciliation.

Therefore a broker can have many accounts.

Learn more about who is a broker here:brainly.com/question/17011472

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