Core Concepts Page 2 Flashcards by Johna Desrosiers | Brainscape

Q

Failed to split commission as agreed

A

Can be charged with failure to account

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Q

Licensee operated recklessly & carelessly

A

Can be charged with culpable negligence

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Q

Relationship of sales assoc. to broker

A

General agency

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Q

OTS/Office of Thrift Supervision

A

Federal Agency regulating Savings & Loans

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Q

Sales assoc. working w/brokers principal

A

Both Broker & Sales Assoc. have fiduciary duties

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Q

Sales assoc. can sue who for commission

A

Only broker currently employing him or her

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Q

A

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